Financial Analyst - Pharmacy Division

Financial Analyst – Pharmacy Division

The primary purpose of the Financial Analyst position is to provide analysis of business and management financial data for strategic financial planning and assist in implementing processes to maximize efficiencies, as required for efficient accounting management. Provides skilled accounting experience for a variety of department financial processes. Impacts operational procedures and practices in multiple departments within the Division to ensure compliance with divisional and institutional compliance guidelines as well as best accounting practices. Performs special assignments as required.

Ideal Candidate will have a bachelor’s degree in Accounting  and five years’ experience in data analysis, accounting or financial project management. 

Working Hours - This position will be remote. 

At MD Anderson, we offer careers built on care, growth, and balance. Our employees enjoy a benefits package designed to support every stage of life, starting on day one.
 

• Paid employee medical benefits (zero premium) starting on first day for employees who work 30 or more hours per week
• Group Dental, Vision, Life, AD&D and Disability coverage
• Paid time off (PTO) and Extended Illness Bank (EIB) paid leave accruals
• Paid institutional holidays, wellness leave, childcare leave, and other paid leave programs
• Tuition Assistance Program after six months of service
• Teachers Retirement System defined-benefit pension plan and two voluntary retirement plans
• Employer paid life, AD&D and an illness-related reduced salary pay program
• Extensive wellness, recognition, fitness, employee health programs and employee resource groups

Accounting Operations & Reconciliation

• Coordinate, execute, and maintain all processes, information, analysis, reporting, and communication related to assigned accounting functions.
• Maintain controlling records to ensure accuracy of data entered into the accounting system.
• Complete all aspects of the monthly STAT Reconciliation for Division of Pharmacy processes and reconcilers in compliance with UT System (UTS) Policy 142.1.
• Reconcile designated departments and accounts to ensure accounting accuracy and monitor expenditures for compliance with institutional and divisional policies.
• Implement and maintain reconciliation procedures.
• Perform monthly audits to ensure reconciliations comply with institutional requirements.
• Coordinate and prepare financial transactions for entry into financial systems.
• Research, advise, and educate staff on appropriate spending guidelines.
• Initiate and maintain communication with departmental representatives, external agencies, and personnel to resolve accounting-related issues.
• Audit postings and documentation processed during daily operations for accuracy and compliance with established procedures, system requirements, and state regulations.
• Assist with revenue and expense projections using departmental, divisional, and institutional data.

Revenue Analysis & Monitoring

• Perform financial impact analysis of daily reconciliation, monitoring, and reporting for all divisional revenue activities.
• Support investigatory analysis, planning, and correction of financial discrepancies.
• Identify trends and problem areas; develop strategic solutions to improve compliance with divisional, institutional, UT System, and best accounting practices.
• Provide trending and root cause analysis of related financial activities.
• Issue weekly alerts to divisional administrative management for pending items requiring remediation.
• Audit revenue postings for accuracy and compliance with procedures, system rules, and state regulations.
• Coordinate all manual divisional revenue charge capture activities to ensure accurate and timely revenue recognition, including Clinic Pharmacy charges and Investigational Drug upfront fees.

Pharmacy Revenue Collection & Receivables Management

• Coordinate, manage, and maintain all processes, analysis, reporting, and communication related to the collection of pharmacy clinic patient charges from third-party payers, including:
  • Medicare and Medicaid
  • Medicare and Medicaid Supplements
  • Third-Party PBM Administrators
  • Commercial healthcare insurance companies
• Manage and ensure timely follow-up of receivables with all responsible parties until payment is secured.
• Coordinate and manage appeals related to claim denials and underpayments.
• Execute and manage projects, analysis, and reporting related to the pharmacy revenue collection model.
• Analyze, evaluate, and prepare the division-wide monthly Clinic Pharmacy Receivable.
• Manage relationships with M.D. Anderson and required PBM vendors involved in claims processing.

Financial Reporting (25%)

• Prepare monthly, quarterly, and annual financial analysis and reports for divisional and institutional leadership review.
• Provide recommendations and develop more efficient financial management methods through enhanced reporting and standard operating procedures.
• Export data and create ad hoc OBIEE dashboard reports to support departmental needs.
• Analyze and prepare financial dashboards and statements to support forecasting, trending, and results analysis.
• Perform budget-to-actual monitoring and variance analysis.

Budget & Forecast Reporting and Analysis (15%)

• Assist in the design, preparation, coordination, analysis, and execution of the divisional annual budget process.
• Provide support by completing templates, projections, data analysis, and documentation using departmental, divisional, and institutional data.

Service Orientation & Professional Conduct

• Provide reliable, responsive, safe, friendly, and courteous service to patients, caregivers, referring physicians, and colleagues.
• Promote inclusiveness and collegiality by consistently demonstrating respect and professionalism.
• Model safe and ethical behavior, mitigating institutional risk through sound business practices and adherence to MD Anderson’s Standards of Conduct, policies, and procedures.
• Meet time and attendance expectations and respond to requests in a timely manner.
• Communicate clear expectations regarding procedures, service timelines, and project deliverables.
• Take accountability by acknowledging errors, apologizing when appropriate, and proactively resolving issues to support patients and coworkers.