Senior Financial Analyst

Boston Medical Center is an extraordinary community of health care providers devoted to the proposition that every person, regardless of his or her social or economic circumstances, deserves the best health care.

Our mission is simple: to provide exceptional care, without exception.

As a private, not-for-profit, 496-bed academic medical center and the primary teaching affiliate for Boston University School of Medicine, BMC is the largest safety net hospital in New England, serving more than a quarter million people annually.

Located in Boston's historic South End, BMC is recognized for its commitment to uncompromising excellence and compassionate care for all.

Responsible for operation and maintenance of cost accounting software and production of service line profitability reports. The analyst will function as an internal consultant, evaluating new programs and performing cost-benefits analysis and other analysis as needed. Analyzes financial information and develops revenue/expense analyses, projections, reports, and presentations. Works with department managers and administrators to evaluate new business opportunities. Locates data sources and identifies trends and developments in competitive environments.

Presents findings to senior management. This position will work with hospital and physician leadership, Finance staff, department managers, administrators and others.

• System maintenance and production:
• Maintain and update the decision support/cost accounting software (EPSI). This software will provide cost and revenue data which will permit the hospital to better understand the financial contribution of specific services. This will assist in business planning by giving the organization more precise and timely information on profitability. This includes identification of data sources, data review and validation
• Creates data feeds and develops algorithms to support calculation of both costs and revenues. Reviews and validates monthly data loads. Produces periodic reports.
• Maintain the decision support system (EPSI) SQL server database. Produce monthly reports on various volume and profitability metrics e.g. OR volume and profitability
• Work with the vendor on the pending decision support system upgrade and testing
• Works with the other analysts, vendor, and staff in other BMC departments to maintain the data in the system and troubleshoot if necessary.
• Development of Cost and Revenue estimates:
• Helps to lead the development of RVU-based costing methodology. Works with individual departments throughout the hospital to calculate BMC-based RVU values for specific services and procedures, to permit more accurate and detailed analysis of costs and profitability.
• Works with the other analyst to periodically maintain and update the departmental RVUs to reflect new services and operational changes.
• Works with other finance staff including Managed Care, Reimbursement, and Revenue Integrity to calculate the revenue associated with specific services. Develops revenue allocation methodologies for payors such as Medicaid that use SPAD and PAPE payment system.
• Reporting and Analysis:
• Participates in the development of service line profitability reports. Creates and distributes reports.
• Work with ITS to develop profitability report on Business Objects e.g. Clinic P&L dashboard
• Support OR work groups on volume and profitability data.
• Provides training to allow end‑users to run reports and interpret the results. Develop profitability pivot tables to enable end‑users to get the needed data
• Coordinates communication and roll‑out of new reports. Meets with department managers, chiefs and others to help them understand the information presented.
• Creates new reports and analyses as needed, including development of reports to support ACO management, managed care contracting, and business planning for proposed new services.
• Supports development of financial models and business plans for new program proposals
• Completes ad‑hoc financial analyses, special projects and other duties as requested on behalf of the Chief Financial Officer, Director of Financial Planning and Manager of Decision Support.