Covenant Health

Financial Analyst III – Financial Analytics

Full Time, 80 Hours Per Pay Period, Day Shift

Covenant Health Overview:

Covenant Health is the region’s top-performing healthcare network with 10 hospitals, outpatient and specialty services, and Covenant Medical Group, our area’s fastest-growing physician practice division. Headquartered in Knoxville, Covenant Health is a community-owned integrated healthcare delivery system and the area’s largest employer. Our more than 11,000 employees, volunteers, and 1,500 affiliated physicians are dedicated to improving the quality of life for the more than two million patients and families we serve every year. Covenant Health is the only healthcare system in East Tennessee to be named a Forbes “Best Employer” seven times. 

Position Summary:

As a financial analyst, this position provides service line analytical, operational, and business insights to executive leadership, as well as forecasts expected future performance as a result of internal or external changes. The Financial Analyst III works extensively with executive and physician leaders at the facility and corporate level. It functions as an integral resource and advisor to service line operational teams, identifies performance gaps, and contributes to improvement and optimization.

Recruiter: Kathleen Rice || kkarnes@covhlth.com || 865-374-5386

• Leverages encounter-level datasets to understand key financial drivers for designated service lines, further researching and identifying underlying causes of strong- or poor-performing services. Collaborates with accounting and finance to develop service line financial performance reporting.

• Identifies opportunities for improvement for designated service lines across Covenant by analyzing and interpreting complex datasets and KPIs to recognize trends, patterns, and opportunity areas. Provides recommendations to the Manager of Financial Analytics along with other members of service line leadership and serves as communicator and change agent to achieve improved results.

• Develops positive, collaborative relationships with service line constituents including service line administrative and financial leaders, physicians, and facility leadership, resulting in well-informed perspectives and rapport to guide leadership towards desired recommendations.

• Prepares and/or reviews statistical and financial reports for the service line at each hospital, as well as for the enterprise. These reports will include profitability of major services of the service line.

• Provides a strong knowledge base of service lines and their clinical components, including pertinent clinical quality measures. Maintains knowledge of regulatory and economic changes and new trends in service lines and assesses their potential impact on operations.

• Applies knowledge of reimbursement value analysis for high-cost supplies and other operational and financial factors related to assigned service lines to perform role effectively.

• Evaluates the need for new equipment, technology, or services through submissions to the Clinical Quality Value Analysis (CQVA) team by modeling new supply items using expertise in cost accounting, reimbursement, coding, research, and levels of care, considering various scenarios as needed to optimize organization decision making.

• Designs scorecards as an enterprise tool for evaluation and communication of strategic objectives that align with our mission and enterprise goals.

• Prepares and delivers effective presentations to groups including enterprise service line meetings, executive leadership, facility medical staff meetings, and operational teams to communicate key findings, opportunities, and service line goals.

• Attends professional/society/business meetings. Participates in in-house training and development activities including service on system-wide administrative and operational committees. Maintains professional growth through continuing education and attending workshops, seminars, conferences, and classes.

• Provides work leadership and direction for less experienced staff members. Takes lead in training others in financial analyses, as needed. Proactively cross-trains with others within the department to ensure continuity of key financial analytics processes.

• Proactively identifies opportunities for improvement in how the Financial Analytics teams operates, provides recommendations to leadership, and takes charge to implement needed changes.

• Maintains and communicates analysis standards for Covenant Health. Promotes the adoption of consistent practices enterprise wide. Communicates and guides business units on appropriate financial analysis standards to maintain consistency in financial reporting across business units.
• Follows policies, procedures, and safety standards. Completes required education assignments annually. Works toward achieving goals and objectives and participates in quality improvement initiatives as requested.
• Performs other duties as assigned

Minimum Education:

BS in Business, Accounting, Finance, or related discipline from an accredited academic program. Advanced degree or CPA preferred.

Minimum Experience:

Minimum of six (6) years of similar experience. Healthcare experience, preferably in a hospital setting, required.  Advanced demonstrated analytical, numerical, and computer capabilities. Requires strong human relations and communication skills. Health care experience preferred

Licensure Requirements:

None.

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