Senior Financial Analyst - WMU Homer Stryker, M.D. School of Medicine

Overview

WMU Homer Stryker MD School of Medicine (WMed) is seeking a Senior Financial Analyst to join the finance department. The Senior Financial Analyst performs a broad range of planning and analysis for WMed and affiliated companies.  Monitors actual results of financial data against plans and budgets, determines trends, and explains financial results.  Prepares detailed reports and presentations for review by all levels of management. Also, provides moderately complex financial analyses and reports as needed.  Analyzes financial data by collecting, monitoring, and creating budgets and benchmarks, determines trends and helps to explain results.  Gathers, organizes and documents relevant financial information. Provides oversight and coordination of operating reports and statutory filings for assigned functional areas. Leads and manages projects and continuous improvement efforts as defined by Administration, using standard approach (define, plan, implement, and monitor).   Provides analytical expertise and comparative analysis to support complex decision-making by Administration. 

Areas of focus may include:

Faculty compensation analysis 

Assists Associate Dean of Administration and Finance in implementing and overseeing elements of the Physician Compensation Program, to include quantitative and qualitative analysis of healthcare and financial data, annual compensation calculations, oversight of payroll approvals and financial accruals, benchmarking of faculty and physician comp and productivity statistics, budgeting physician data (labor budget, revenue budget, and statistical budget); assists with decision support for financial proformas; provides construction of databases and reports. 

Revenue cycle analysis:

Independently reviews and monitors the overall financial status of clinical revenue from services provided in clinical settings. Reviews, designs, and implements processes for pricing and performs financial analyses to ensure that the clinical revenue cycle is effective. Performs close revenue monitoring following events that could impact the physician revenue cycle including the addition of outpatient clinics, new services or specialties. Presents findings, when appropriate, to providers and clinic leadership. 

Management and monitoring of state sponsored programs:

Regular review for program participation eligibility and required attestations.  Reconciliation of funds flow and calculation of fund distribution to participants. 

This position requires a high level of integrity as it deals closely with confidential information. 

Responsibilities

• Provide timely, relevant and accurate reporting & analysis of the results of the organization’s performance against historical, budgeted, and strategic planning results to facilitate decision-making toward the achievement of the budget and strategic plan.
• Possesses an understanding of the business and user needs in order to provide budget insight and solutions.
• Analyze data to ensure proper accounting procedures have been followed. Investigate and report inconsistencies or improprieties.
• Analyze financial data by collecting, monitoring, identifying trends, and creating financial models to share and recommend actions to administration.
• Maintain controls to assure the integrity of financial data and compliance with GAAP which may include:
  • Develop sound revenue cycle analysis and reporting; track metrics related to the patient engagement cycle. Responsible for updating and maintaining the Charge Master/Fee schedules and propose process improvements related to reimbursement methodologies   
• Participate in compensation management by providing financial and analytical support for the compensation accounting processes. Respond to ad-hoc projects related to compensation program.
• Assist with new business processes.
• Prepares and distributes detailed reports and presentations for review by all levels of management.
• Prepare and analyze account reconciliations and analysis promptly for assigned functional areas.
• Assists with the development, implementation and ongoing integrity of the financial accounting system.
• Prepare monthly balance sheet, income statement and changes in financial position/budget variance analysis for assigned functional areas.
• Recommend actions by analyzing and interpreting data and making comparative analyses.
• Maintain and develop various financial models for use by the organization during the planning processes, ensuring quality, accuracy and focused analytic review.
• Assist with the annual budgeting process.
• Prepare financial reports, charts, tables and other exhibits as requested
• Demonstrate appropriate understanding / working knowledge of accounting principles and internal controls, and apply them.
• Provide financial tracking support to departments.
• Identify non-value-added processes within the department and seeks solutions.
• Responsible for performing special projects to improve process efficiency and performance.
• Availability to work on weekends and evenings to complete time sensitive or seasonal projects.
• Availability for occasional overnight/out-of-town travel.
• Acquires knowledge for new technology and policy/procedure revisions.
• All other duties as assigned.

Qualifications

EDUCATION AND/OR EXPERIENCE: 

• Bachelor’s degree in Finance, Accounting, Healthcare Administration, Business, or a related field required. 
• A minimum of three (3) years’ experience analyzing healthcare or equivalent data and a minimum of four (4) years’ experience analyzing quantitative or financial compensation data preferred.
• Requires strong database management, analytical, and reporting skills. 
• Requires high level of proficiency in ERP systems, data mining systems, Excel, and Microsoft Word, Microsoft Power BI, and related office productivity tools. 
• Responsible for communications with providers and clinic leadership.
• Excellent written and verbal communication skills.
• Ability to manage multiple priorities and deliver timely results. 

OTHER SKILLS AND ABILITIES:

•  High level of communication skills to effectively interact with executive level management, physicians, faculty, and employees.
• Ability to plan, implement, and administer financial information and control systems.
• Knowledge of the principles, processes, and standards for integrated financial analysis and reporting. Strong financial analysis foundation including experience with data mining, creating budgets, and performing quantitative and qualitative analysis.
• Demonstrated ability to provide proactive analysis of and resolution to potential hurdles affecting the company’s reimbursement and accounts receivable.
• Proactive strategic planner incorporating strong financial insight with highly focused project management skills, analytical ability, good judgment, and strong operational focus.
• Demonstrates effective verbal and written communication that is clear, well-organized, and demonstrates an understanding of audience needs.
• Through genuine and positive communication, makes each customer feel informed, understood, and supported.
• An effective team player who contributes valuable ideas and feedback and can be counted on to meet commitments and deadlines.
• Ability to train, educate and lead finance staff
• Ability to resolve complex problems.
• Ability to analyze and interpret data and make recommendations.
• Broad knowledge of organizational and departmental policy and procedure.
• Can work independently with a high level of analytical thinking and ability to concurrently manage multiple tasks.
• Ability to interpret, comprehend, and transmit complicated and detailed data accurately.
• Demonstrates the ability to recognize priorities in organization of work flow.
• Able to perform duties independently, with a minimal need for direct supervision.
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About Western Michigan University Homer Stryker M.D. School of Medicine (WMed)

We are committed to excellence and health equity through transformative medical education, high-quality, patient- and family-entered care, innovative research, and community partnerships within a just culture of diversity, equity, inclusion, and belonging. Our vision is health equity for all in Southwest Michigan through innovation in the practice and study of medicine.

The medical school is a collaboration of Western Michigan University and Kalamazoo's two teaching health systems, Ascension Borgess and Bronson Healthcare. The medical school is a private nonprofit corporation supported by private gifts, clinical revenues, research activities, tuition, and endowment income. WMed is the recipient of a $100 million foundational gift and the Empowering Futures Gift, a philanthropic commitment of $300 million to support the mission of the medical school. WMed contributes to the economic vitality of Southwest Michigan through the services we provide as well as the creation of 1,600 new jobs and an annual estimated economic impact of $353 million in Kalamazoo and Calhoun counties.

WMed is fully accredited by the Liaison Committee on Medical Education and the Higher Learning Commission. The medical school offers a comprehensive, innovative four-year Doctor of Medicine degree program and a Master of Science degree program in Biomedical Sciences. We train physicians in 10 residencies and five fellowships accredited by the Accreditation Council for Graduate Medical Education. To support our educational mission, we have Joint Accreditation for interprofessional continuing education, which incorporates accreditation by the Accreditation Council for Continuing Medical Education.

WMed Health is the clinical practice of the medical school with more than 300 providers offering comprehensive primary care and specialty services in several locations throughout the Kalamazoo and Battle Creek areas. Faculty in the Department of Pathology serve as the Office of the Medical Examiner for counties throughout Michigan and northern Indiana.

The W.E. Upjohn M.D. Campus located in downtown Kalamazoo serves as the primary educational facility with student study and social spaces, team-based learning halls, faculty and administrative offices, a state-of-the-art Simulation Center accredited by the Society for Simulation in Healthcare, basic science research labs, as well as toxicology and forensic pathology labs.

WMed builds upon Kalamazoo’s century-long foundation of drug discovery and medical device development with a strategic investment in clinical, laboratory, community, and educational research. The Center for Immunobiology, Center for Clinical Research, Research Histology Lab, Innovation Center, and Human Research Protection Program contribute to the medical school’s advancement of knowledge through innovation and discovery. 

Western Michigan University Homer Stryker M.D. School of Medicine is an Equal Employment Opportunity/Affirmative Action employer of females, minorities, individuals with disabilities, and protected veterans, and actively strives to increase diversity within its community. We provide a drug- and tobacco-free workplace. 

EEO Minorities/Women/Disabled/Protected Veterans.