Department/Unit:
Budget & PlanningWork Shift:
Day (United States of America)Salary Range: $65,057.00 - $107,348.80Senior Financial Analyst
The Pharmacy Financial Planning Specialist will be primarily responsible for supporting system-wide financial planning and analysis processes for Pharmacy, including Pharmacy-related value analysis.. The position will provide comprehensive analyses needed by Pharmacy teams in order to achieve critical business goals. The Pharmacy Financial Planning Specialist will collaborate with various departments to develop financial modeling techniques that consider numerous factors, including 340B implications, to assist with budgetary forecasting and variance analysis for pharmaceutical revenue and expenses. This position will extract and analyze data, develop analytical tools, measure performance to targets, identify issues and opportunities, and present recommendations to Pharmacy, Finance, and other applicable internal leadership.
Essential Duties and Responsibilities:
Primary individual responsible, in collaboration with Finance, Pharmacy, and Legal, for development of financial analysis to support impact assessment for Pharmacy-related business plans and strategic initiatives.
Develops and maintains expertise regarding the 340B drug program in order to ensure appropriate consideration of program impacts and opportunities in development of financial plans and analysis of financial impact of initiatives.
Performs in-depth analysis of performance on revenue and cost aspects for the system’s involvement in the 340B program, including financial analysis of contract pharmacy activity.
Acts as the primary financial analysis resource for the P&T committee in its consideration of new drug requests and deletions from the formulary.
Provides analysis to be used by the Pharmacy team to develop operating and capital budgets.
Develops and maintains an in-depth understanding of Pharmacy operations in order to facilitate ability to provide high-quality financial analysis.
Develops standardized analytic tools and key metrics, and facilitates efficient reporting processes to enable monitoring of Pharmacy finances and reporting on specific initiatives. Develops expertise in using various information systems (EPIC HER, Workday ERP, Strata Jazz) to support this key responsibility.
Provides financial information and analysis used by Pharmacy staff to understand deviations from budget and assists in financial aspects of developing corrective action plans to address variances.
Develops and maintains expertise regarding payor-specific drug reimbursement practices and the various cost measures (ex. ASP) impacting reimbursement and costs for pharmaceuticals.
Provides analysis for the Revenue Integrity team to support standardization, efficiency, and effectiveness of the Pharmacy revenue cycle, including maximization of charge capture and reimbursement for pharmaceuticals.
Qualifications:
Bachelor's Degree in Accounting, Finance, or Pharmacy related field - required
MBA or CPA - preferred
3 - 5 years of business or healthcare finance experience - required
3+ years of project management experience - preferred
1-3 years previous experience using Lean and/or Six Sigma structured business process improvement - preferred
Prior experience performing complex data analysis with experience creating data models to support business decisions - required
Previous experience with Workday, StrataJazz, or Epic - preferred
Knowledge of the regulatory environment as it relates to health care reimbursement, compliance, and the 340B drug program - preferred
Ability to read and comprehend instructions
Excellent oral and written communication skills
Ability to translate and make complex subject matter understandable to a diverse customer base
Facilitation and presentation skills
Effective Project and Change Management skills, including initiating, planning, design, executing, monitoring, closing, and post‐event evaluation
Strong interpersonal skills. Self‐starter with ability to deal with ambiguity and frequent change
Ability to work in an independent proactive manner effectively managing multiple concurrent projects involving internal customers, external vendors, and other shareholders. Ability to be an effective contributor as an individual and team member in a fast‐paced, ever‐changing environment
Ability to document findings and analysis, including system and process documentation
Solid data analysis skills and familiarity with spend analysis, contract management and other decision support tools and concepts
Drive to learn and understand product specifications, supply chain systems, and business relationships
Ability to perform the job according to conduct defined by the AMC Code of Conduct and Employee Manual
Ability to use good judgment when performing the functions of the job or when interacting with others
Accept and carry out direction, work cooperatively with others and avoid interpersonal conflict
Adhere to AMC policies, procedures, and practices, and to utilize AMC’s problem‐solving processes for resolving grievances or disagreements
Intermediate‐level competency with Microsoft Windows, Outlook, Word, PowerPoint, Teams, WebexAbility to work at an advanced level within Microsoft Excel to provide sufficient data analysis and presentation
Prior experience performing complex data analysis with experience creating data models to support business decisions
Business or healthcare finance experience
Equivalent combination of relevant education and experience may be substituted as appropriate.
Physical Demands
Working Conditions
Thank you for your interest in Albany Medical Center!
Albany Medical Center is an equal opportunity employer.
This role may require access to information considered sensitive to Albany Medical Center, its patients, affiliates, and partners, including but not limited to HIPAA Protected Health Information and other information regulated by Federal and New York State statutes. Workforce members are expected to ensure that:
Access to information is based on a “need to know” and is the minimum necessary to properly perform assigned duties. Use or disclosure shall not exceed the minimum amount of information needed to accomplish an intended purpose. Reasonable efforts, consistent with Albany Medical Center policies and standards, shall be made to ensure that information is adequately protected from unauthorized access and modification.
Thank you for your interest in Albany Medical Center!
Albany Medical is an equal opportunity employer.
This role may require access to information considered sensitive to Albany Medical Center, its patients, affiliates, and partners, including but not limited to HIPAA Protected Health Information and other information regulated by Federal and New York State statutes. Workforce members are expected to ensure that:
Access to information is based on a “need to know” and is the minimum necessary to properly perform assigned duties. Use or disclosure shall not exceed the minimum amount of information needed to accomplish an intended purpose. Reasonable efforts, consistent with Albany Med Center policies and standards, shall be made to ensure that information is adequately protected from unauthorized access and modification.