This job will support finance and operational leadership with advanced patient cost analytics, including statistical analysis, predictive modeling and data visualization. The cost accounting team specifically uses a combination of analytical tools that combine clinical, payroll and financial information to calculate the complete cost of patient care and translate that to making informed decisions about capital investments, support payor negotiations, and answer numerous financial what if scenarios. Under the direction of the Director, Cost Accounting, this incumbent leads all operational cost accounting activities for the Network.
Perform management responsibilities to include, but are not limited to: involved in hiring and termination decisions, coaching and development, rewards and recognition, performance management and staff productivity. Plan, organize, staff, direct and control the day-to-day operations of the department; develop and implement policies and programs as necessary; may have budgetary responsibility and authority. (25%)
Establish and maintain consistent guiding principles for cost accounting across all network entities, including cost type definitions (variable/fixed; direct/indirect), indirect cost allocation methodologies, and direct cost assignments to patient care activities. Includes working with responsible finance team members to generate and maintain cost center hierarchy definitions and any other identifiers required to ensure the proper categorization and allocation of costs. (15%)
Provide direction to cost analysts responsible for:
(10%) Day-to-day activities related to generating and maintaining cost allocation rules and processes to produce actionable and materially accurate patient care cost information for each fiscal year, including periodic updates required to assign cost to new activities and supplies. (10%)
(10%) Utilize decision support tools (ie SAS, Excel, Tableau, Alteryx, etc.) to produce reports and analyses for members of decision support teams and leadership that call attention to opportunities and provide recommendations in easily understandable and interactive visual formats to:
diagnose the financial health and viability of various clinical delivery methods and settings to identify how to keep quality healthcare accessible and affordable
enable institute level financial reporting based on primary diagnosis data
inform payor reimbursement discussions
develop business cases in support of long-term operating strategies
prioritize capital equipment purchases and real estate development projects
Develop and empower the team through mentoring and coaching in conjunction with company-endorsed education and training resources. Requires the ability to identify growth opportunities that support personal development, business goals and core behaviors. (10%)
Actively develop and maintain collaborative relationships with hospital leaders and clinical teams to develop accurate and timely cost and productivity metrics. This includes leading complex discussions that translate clinical activity to productivity metrics using a combination of analytical tools, site visits and video communications. Excellent people skills with a focus on customer service is essential. (10%)
Provide training and assistance to departments across the enterprise who use cost data and related reporting tools to ensure adequate understanding of the data and proper usage. (10%)
Manage and coordinate processes for maintaining data credibility through compliance with objective standards deemed appropriate by leadership, as well as diligent and timely data processing procedures, audits, and reconciliation practices. (5%)
Other duties as assigned. (5%)
Bachelors Degree in Accounting OR 8+ years cost accounting experience at a Healthcare organization OR Masters Degree in Business Administration
3 years in a leadership or management role
3 years of database development
3 years with cost accounting
Advanced Excel skills
Ability to adapt to changing computer technologies
Strong understanding of relational database structures, applications, and transactional systems
3 years in Healthcare systems
Certified Public Accountant (CPA)
Certified Managerial Accountant (CMA)
Certified Healthcare Financial Professional (CHFP)
Understanding of SQL, macros and visual basic.
Experience using healthcare-specific cost accounting systems such as EPSi, StrataJazz, etc.
Strong comprehension and communication skills. (Comprehends general business concepts demonstrated by the ability to read and discuss professional communications such as industry news, technical procedures, and government regulations. Written communication skills include: the ability to write reports, use e-mail appropriately, and present information in an organized way. Oral communication skills; the ability to respond to inquiries and complaints in a constructive manner, articulate complex subject matter to a broad audience to include Senior Leadership, and public speaking to large audiences of diverse management levels.)
Ability to identify and define complex scenarios, gather facts, and draw valid conclusions; be able to present findings and recommended course of action to the appropriate audience.
Disclaimer: The job description has been designed to indicate the general nature and essential duties and responsibilities of work performed by employees within this job title. It may not contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees to do this job.
Compliance Requirement : This job adheres to the ethical and legal standards and behavioral expectations as set forth in the code of business conduct and company policies.
As a component of job responsibilities, employees may have access to covered information, cardholder data, or other confidential customer information that must be protected at all times. In connection with this, all employees must comply with both the Health Insurance Portability Accountability Act of 1996 (HIPAA) as described in the Notice of Privacy Practices and Privacy Policies and Procedures as well as all data security guidelines established within the Company's Handbook of Privacy Policies and Practices and Information Security Policy.
Furthermore, it is every employee's responsibility to comply with the company's Code of Business Conduct. This includes but is not limited to adherence to applicable federal and state laws, rules, and regulations as well as company policies and training requirements.
Highmark Health and its affiliates prohibit discrimination against qualified individuals based on their status as protected veterans or individuals with disabilities, and prohibit discrimination against all individuals based on their race, color, religion, sex, national origin, sexual orientation/gender identity or any other category protected by applicable federal, state or local law. Highmark Health and its affiliates take affirmative action to employ and advance in employment individuals without regard to race, color, religion, sex, national origin, sexual orientation/gender identity, protected veteran status or disability.
Highmark Health and its affiliates prohibit discrimination against qualified individuals based on their status as protected veterans or individuals with disabilities, and prohibit discrimination against all individuals based on their race, color, age, religion, sex, national origin, sexual orientation/gender identity or any other category protected by applicable federal, state or local law. Highmark Health and its affiliates take affirmative action to employ and advance in employment individuals without regard to race, color, age, religion, sex, national origin, sexual orientation/gender identity, protected veteran status or disability.