Overview
This role supports finance and operational leadership with advanced patient cost analytics, including statistical analysis, predictive modeling, and data visualization. The cost accounting team uses analytical tools that combine clinical, payroll, and financial information to calculate the complete cost of patient care and translate findings into informed decisions about capital investments, support payor negotiations, and evaluating “what if” financial scenarios.
Under the direction of the Director, Cost Accounting, this position leads operational cost accounting activities for the network.
Responsibilities
- Provide management for the department (25%): Includes hiring and termination decisions, coaching and development, rewards and recognition, performance management, and staff productivity. Plan, organize, staff, direct, and control day-to-day operations; develop and implement policies and programs as necessary; may have budgetary responsibility and authority.
- Establish and maintain cost accounting guiding principles across network entities (15%): Define cost types (variable/fixed; direct/indirect), indirect cost allocation methodologies, and direct cost assignments to patient care activities. Work with responsible finance team members to generate and maintain cost center hierarchy definitions and other identifiers needed for proper categorization and allocation of costs.
- Direct cost analyst activities for rule/process management (10%): Oversee 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. Ensure periodic updates to assign cost to new activities and supplies.
- Use decision support tools to deliver actionable reporting and analysis (10%): Utilize tools such as SAS, Excel, Tableau, Alteryx, and others to produce reports and analyses for decision support teams and leadership in easily understandable, interactive visual formats, including:
- Diagnosing the financial health and viability of various clinical delivery methods and settings to help keep quality healthcare accessible and affordable
- Enabling institute-level financial reporting based on primary diagnosis data
- Informing payor reimbursement discussions
- Developing business cases supporting long-term operating strategies
- Prioritizing capital equipment purchases and real estate development projects
- Develop and empower the team (10%): Mentor and coach team members using company-endorsed education and training resources; identify growth opportunities that support personal development, business goals, and core behaviors.
- Build collaborative relationships and lead complex discussions (10%): Partner with hospital leaders and clinical teams to develop accurate and timely cost and productivity metrics. Lead discussions translating clinical activity into productivity metrics using a combination of analytical tools, site visits, and video communications. Strong interpersonal skills with a focus on customer service are essential.
- Train departments on cost data and tools (10%): Provide training and assistance across the enterprise for teams that use cost data and related reporting tools to ensure understanding of the data and proper usage.
- Maintain data credibility through compliance and audits (5%): Coordinate processes to maintain data credibility through compliance with standards set by leadership, plus diligent and timely data processing, audits, and reconciliation practices.
- Other duties as assigned (5%)
Qualifications
Minimum
- Bachelor’s Degree in Accounting or relevant experience and/or education as determined by the employer in lieu of a bachelor’s degree
- 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
Preferred
- 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, including the ability to:
- Read and discuss professional communications such as industry news, technical procedures, and government regulations
- Write reports, use e-mail appropriately, and present information in an organized way
- Respond to inquiries and complaints constructively, articulate complex topics to broad audiences (including senior leadership), and speak publicly to diverse management levels
- Ability to identify and define complex scenarios, gather facts, and draw valid conclusions; present findings and recommended course of action to the appropriate audience
Compensation & Benefits
- Pay range minimum: $42.13
- Pay range maximum: $66.99
- Base pay is determined by factors including qualifications, experience, expected contributions, internal peer equity, market considerations, and business needs. The displayed range may not reflect any geographic differential for certain locations.
Compliance & Data Privacy
- This role requires adherence to ethical and legal standards and behavioral expectations set forth in the organization’s code of business conduct and company policies.
- Employees may have access to covered information, cardholder data, or other confidential customer information that must be protected at all times.
- As part of job responsibilities, employees must comply with the Health Insurance Portability and Accountability Act of 1996 (HIPAA) and applicable privacy and security policies and procedures.
Location
- Not specified in the provided job description.