Financial Analyst

Financial Analyst serving in a healthcare setting will be responsible for the following: analyzing financial data, preparing reports, forecasting, and providing insights to improve financial performance, with a focus on healthcare-specific areas like physician compensation and cost analysis.

Key Responsibilities:

Financial Data Analysis:

Gather, analyze, and interpret financial data to understand the medical group's performance.

Conduct variance analysis, comparing actual results to budgets and forecasts.

Identify trends and patterns in financial data to inform decision-making.

Financial Reporting:

Prepare financial reports, statements, and presentations for management and stakeholders.

Develop and maintain financial models for forecasting and budgeting.

Budgeting and Forecasting:

Assist in the development and management of budgets

Prepare financial forecasts and projections to anticipate future financial performance.

Physician Compensation Analysis:

Analyze physician compensation under a collections-based model, clinical quality compensation, and value-based metrics.

Provide insights and recommendations on physician compensation strategies.

Cost Analysis and Optimization:

Analyze clinical and other costs to identify areas for cost reduction and efficiency improvements.

Develop and implement cost-saving strategies.

Collaboration and Communication:

Work with leadership, physicians, and other staff to understand financial needs and objectives.

Communicate financial information and insights effectively to stakeholders.

Compliance:

Ensure compliance with relevant financial regulations and policies.

Ad-hoc Projects:

Assist with ad-hoc financial analysis projects, proformas, or reporting requests.

Attend physician meetings as required.

Skills and Qualifications:

Education: Bachelor's degree in finance, accounting, or a related field.

Certifications: CPA or other relevant financial certifications are a plus.

Experience: Relevant experience in financial analysis, preferably in a healthcare setting.

Skills:

Strong analytical and problem-solving skills.

Proficiency in financial modeling and forecasting.

Excellent communication and interpersonal skills.

Ability to work independently and as part of a team.

Knowledge of healthcare finance principles and practices.

Experience with healthcare data analysis tools and software.

Proficiency in Microsoft Excel required.

PowerBI & SQL experience preferred.

Specific examples of tasks:

Analyzing physician productivity and revenue generation.

Developing and maintaining physician compensation models.

Identifying opportunities to improve financial performance.

Providing financial support to leadership.

Preparing reports for regulatory agencies.