Job Details

Pharmacy Financial Analyst

Reports to Pharmacy Business Manager. Prepares and supports budget process, forecasting, and financial/operational analyses activities for Brown University Health Pharmacy, LLC; 340B contract pharmacy arrangements; consolidated service center; and affiliate inpatient pharmacies at Rhode Island Hospital, The Miriam Hospital, Newport Hospital, Bradley Hospital, Morton Hospital, and Saint Anne's Hospital. Responsible for oversight of business operations for various pharmacy programs. Provides support to other pharmacy areas as needed. Brown University Health employees are expected to successfully role model the organization's values of Compassion, Accountability, Respect, and Excellence as these values guide our everyday actions with patients, customers and one another. In addition to our values, all employees are expected to demonstrate the core Success Factors which tell us how we work together and how we get things done. The core Success Factors include: Instill Trust and Value Differences Patient and Community Focus and Collaborate

Responsibilities:

• Participates in the development and implementation of pharmacy operating and capital budgets.
• Assists directors and managers in the timely and accurate completion of their operating and capital budgets.
• Prepares short and long-range financial planning analyses/forecasts for administration and department managers.
• Tracks system-wide pharmacy capital expenditures reconciling to Brown University Health finance reports.
• Analyzes financial and statistical data used in forecasting financial operations.
• Reviews, evaluates, and reports on monthly actual to budget variances.
• Responsible for reviewing and adapting key performance indicators per business segment.
• Research significant variances and collaborates with appropriate team members to reconcile and prepare a report for review by pharmacy leadership.
• Monitors revenue and expenses, including departmental charge backs across the inpatient pharmacy enterprise and follows up with managers on items of concerns.
• Monitors drug expenses and investigates fluctuations.
• Maintains monthly trending reports in various areas related to financial performance covering top line, expense trending, and bottom-line results.
• Monitors, reports, and analyzes all 340B contract financial activities including the development and maintenance of financial reports and internal dashboards for covered entities relative to fiscal impact and liabilities of 340B contract pharmacy relationships, including making recommendations to improve system efficiencies.
• Prepares Brown University Health Pharmacy, LLC monthly financial reports and collaborates with Brown University Health accounting department to produce monthly financial statements.
• Prepares Brown University Health Pharmacy, LLC internal invoices and reconciles and audits Brown University Health Pharmacy, LLC bank accounts.
• Manages and resolves EPIC Professional Billing work queues and identifies and resolves all related issues.
• Develops associations with provider relations and claims processing managers within payer organizations.
• Communicates and resolves reimbursement issues and manages payer/provider relations between payers and pharmacy staff.
• Responsible for Pharmacy Benefit Manager (PBM) re-credentialing, communication, audits, and information requests.
• Coordinates annual renewal of state licenses and other registrations.
• Facilitates new PBM contracts.
• Keeps Business Manager informed on areas of concern which may affect the financial planning/budgeting process.
• Prepares and tracks Position Control Change Forms.
• Monitors overtime, labor and productivity reports and follows up with managers on areas of concern.
• Compiles pharmacy performance data and reports monthly to Pharmacy Leadership.
• Prepares reports on business trends.
• Analyzes and scrutinizes data and financial reporting to ensure accuracy of systems and data.
• Plans, coordinates, monitors, verifies, and analyzes special projects and activities in the pharmacy department's budgeting, forecasting and product line development.
• Ensures accuracy, efficiency, and integrity of all manual and automated planning information systems pertaining to budgeting, forecasting and product line development.
• Troubleshoots existing and/or potential problems in financial planning process, recommending changes as appropriate.
• Develops and maintains working relationship with Brown University Health finance and information services departments to facilitate full data exchange.
• Participates in administrative staff meetings, committees, and quality improvement teams, as required.
• Designs and develops educational materials for interpreting and communicating results of financial analyses to pharmacy leadership.
• Contributes to development of departmental policies and procedures.
• Performs other duties as assigned.

Basic Knowledge:

• Bachelor's degree required, concentration in accounting, finance, or healthcare preferred.
• MBA highly desirable.
• Expertise and proficiency with accounting procedures, financial operating systems, data collection and data processing.
• Decision support and cost accounting knowledge strongly desired.

Experience:

• Three years progressively more responsible experience in health care with working knowledge of operating and capital budgets, reimbursement, forecasting, revenue cycle management, and financial reporting.
• Proficient with Microsoft Office Suite.
• Experience with PowerBI, EPSI, and Datawatch preferred.

Work Environment and Physical Requirements:

• Work is performed in a typical office environment requiring extended periods of sitting.
• Requires the visual acuity and manual dexterity necessary to operate a computer and use a typical keyboard and computer mouse to navigate screens on multiple computer monitors.
• May require occasional travel between affiliates.

Independent Action:

• Performs independently within department policies and procedures.
• Refers specific complex problems to supervisor where clarification of departmental policies and procedures may be required.

Supervisory Responsibility:

• None.

Pay Range: $67,724.80-$111,716.80

EEO Statement: Brown University Health is committed to providing equal employment opportunities and maintaining a work environment free from all forms of unlawful discrimination and harassment.

Location: Rhode Island Hospital - 593 Eddy Street Providence, Rhode Island 02903

Work Type: Monday - Friday

Work Shift: Day

Daily Hours: 8 hours

Driving Required: No