Financial Decision Support Analyst, On-Site

General Summary

Under limited supervision coordinates financial and clinical Decision Support services. Researches, designs, negotiates and executes Financial Decision Support projects with clinical and administrative staff. Operations include the following areas: Budgeting, Cost Accounting, Clinical Resource Management, Financial Business Planning, and Managed Care Contracting.

Principal Responsibilities and Tasks

The following statements are intended to describe the general nature and level of work being performed by people assigned to this classification.  They are not to be construed as an exhaustive list of all job duties performed by personnel so classified. 

1. Provides support to department staff in the day to day operations of the Department and in accordance with UMMS policies and procedures.
2. Utilizing the Decision Support and financial systems, independently prepares various reports, surveys and special projects as requested by management inaccordance with departmental procedures.
3. Provide analytical and technical support regarding cost accounting analysis, budgeting analysis, clinical utilization analysis and financial planning analysis.

              Specializations

Specialization in Hospital Decision Support

1. Prepares and/or validates assumptions, calculations, schedules and other documentation in developing the organization’s annual capital and operating budgets in accordance with generally accepted accounting principles (GAAP) and departmental procedures.
2. Participates in the analyses of financial and statistical reports to ascertain trends and to isolate deviations from established plans in accordance with GAAP and report such data to management.
3. Compiles financial and statistical reports of a specific nature in accordance with departmental procedures.  This includes preparing monthly financial statements and other regular management reports, analyzing nominal accounts to determine the adequacy of presentations based upon accruals, calculation, estimates and general provisions.
4. Monitors and investigates transactions.  Reviews and verifies transactions to confirm authorization, conformity with the capital or operating budget, compliance with expenditure management policy, and the adequacy of coding to support accounting systems and management reports in accordance with departmental procedures.
5. Communicates with various departments in order to resolve various budget-related financial problems and procedures.  Reviews with cost center managers, on a routine basis, the financial reports for their areas.  Assists manager/analyst in understanding variances from budget and assists in documenting new issues that impact the current and future budget development.
6. Maintains a working knowledge of the hospital’s financial and patient accounting practices and uses this information to create/modify cost accounting methodology within the Decision Support system.
7. Prepares and/or validates assumptions, complex calculations, schedules and other documentation in developing the Decision Support clinical services profitability statements and other Medical Center analyses.
8. Communicates with various departments on changes surrounding operational and financial charges and incorporates these changes into the cost accounting methodology.

Specialization in Clinical Analysis

1. Ensures clinical analyst data quality and integrity.
2. Develops, implements, and maintains executive reporting tool in coordination with the Intranet Committee.
3. Responsible for maintaining accuracy and data integrity in the Decision Support system through audits and routine reviews of data.
4. Responsible for contributing to the creation and analysis of service line Profit and Loss to support decision-making and change within UMMS departments.
5. Using the Decision Support system responsible for maintaining and analyzing accurate and timely revenue, cost and utilization data used by all levels of management within the organization.
6. Using Decision Support system data and analysis, direct and guide all levels of the institution in the strategic decision-making process while maintaining the required degree of confidentiality and professionalism.
7. Communicates with groups of various sizes to discuss/debate alternatives with other professionals and/or arbitrate differences of opinion or focus related to Decision Support system.

Specialization in Strategic Financial Planning and Subsidiary Ventures

1. Prepares and/or validates assumptions, complex calculations, schedules and other documentation in developing the Medical Centers and Medical Systems annual capital and operating budgets in accordance with generally accepted accounting principles (GAAP) and departmental procedures
2. Development of long-term financial forecasts that incorporate the changes in patient service activity, the reimbursement environment, payor mix, operating costs, capital financing structure and overall capital requirements primarily utilizing the ENUFF model.
3. Maintains the Medical System’s strategic capital plan and determines how these capital issues will affect the long-range financial forecast.  Produces regular updates of this document for internal use.
4. Reports and maintains external and internal benchmarking indicators.