About the Role
This position focuses on supporting the development and maintenance of various costing methodologies essential for patient care and service lines. You will collect, validate, and analyze financial and operational data to facilitate cost accounting purposes while assisting in the preparation of related reports and analyses. The role requires monitoring cost allocations, analyzing operational efficiencies, and collaborating with various teams to enhance financial performance and transparency within the organization.
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Responsibilities
- Support the development and maintenance of patient, service line, departmental, and procedural costing methodologies.
- Collect, validate, and analyze financial and operational data for cost accounting purposes.
- Assist in the preparation of cost reports, dashboards, and variance analyses.
- Monitor direct and indirect cost allocations across departments and cost centers.
- Analyze labor, supplies, pharmaceuticals, and overhead costs to identify efficiency opportunities.
- Support annual budgeting, forecasting, and financial planning activities.
- Assist in determining the cost of clinical services, procedures, and programs.
- Maintain costing systems, cost drivers, and allocation methodologies.
- Collaborate with Revenue Cycle teams to support pricing and reimbursement analyses.
- Prepare ad hoc financial and operational analyses for leadership decision-making.
- Support benchmarking initiatives and comparison of cost performance against internal and external standards.
- Ensure data integrity and compliance with organizational costing policies and accounting standards.
- Participate in process improvement initiatives to enhance financial performance and cost transparency.
Requirements
Qualifications
- Bachelor's degree in Accounting, Finance, Economics, Healthcare Administration, Business Administration, or a related field.
- Professional certification such as CMA, CPA, ACCA, CIMA, or equivalent is preferred.
- Advanced training in healthcare costing, financial analysis, or business analytics is an advantage.
Additional Requirements
- 2-4 years of experience in healthcare finance, cost accounting, financial analysis, or related fields.
- Experience with healthcare costing methodologies and cost accounting principles preferred.
- Strong analytical and problem-solving skills.
- Advanced proficiency in Microsoft Excel and financial reporting tools.
- Experience working with ERP systems, cost accounting systems, and healthcare information systems.
- Knowledge of budgeting, forecasting, variance analysis, and financial modeling.
- Ability to interpret large datasets and translate findings into actionable recommendations.
- Strong communication and stakeholder management skills.
- Ability to work effectively with clinical, operational, and finance teams.
