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Overview

The Financial Analyst 3 is responsible for financial and other market analytics that support provider contract negotiations and network development activities through analyses, routine, and ad hoc reporting of external provider financial and other critical information, including spend and utilization data, and makes recommendations regarding implementation of various reimbursement models, rate strategies, and contract terms. Stays current on industry trends and regulations affecting provider reimbursement, claims payment and modeling systems capabilities, and provider reimbursement methodologies such as changes to Medicare, Medicaid, State or Federal reimbursement mandates and Pay 4 Performance models. Provides complex financial support to various internal stakeholders including Provider Contracting leadership and staff, VP's and other senior leaders, including CFO's for both Northwest Permanente (NWP) and Kaiser Foundation Health Plan (KFHP) in contracting and network development initiatives, and in identification and summarization of market dynamics and cost trend initiatives both affecting Kaiser Permanente's contracted medical expenditure and potential cost savings opportunities.

Join Our Medical Group

Northwest Permanente is a self-governed, physician-led, multi-specialty group of 1,500 physicians, surgeons, and clinicians, caring for 630,000 members in Oregon and Southwest Washington. Kaiser Permanente is one of the nation's preeminent health care systems, a benchmark for comprehensive, integrated, value-based, and high-quality care.

Responsibilities

Major Responsibilities / Essential Functions

• Analyzes contract proposals, calculates financial impact, develops scenarios and counter proposals to maximize savings or minimize increases
• Provides complex financial support to the senior leaders, including CFOs for both NWP and KFHP on major strategic contract initiatives, especially in the development and management of provider network(s) and innovative payment models that support growth and financial objectives
• Creates, maintains, and compares rates and proposals against internal and external benchmarks to aid in crafting counter proposals
• Develops and maintains rate guardrails to enable fast-track negotiations
• Provides input into the rates and volumes of Single Case Agreements and converting them into Provider Contracts
• Performs QA/review of analytics to ensure data quality is preserved and accuracy in calculations is maintained

Reimbursement Methodologies

• Demonstrates expertise in knowledge of Medicare and Medicaid reimbursement methodologies for various Provider Types - Physicians, Inpatient and Outpatient Hospitals, ASCs, SNFs, Home Health, Hospice, Alternative Health etc.
• Monitors changes and updates in CMS/State regulations for RVUs, DRGs, APCs, ASCs, SNFs, Home Health, Hospice etc. on an annual or quarterly basis
• Analyzes and reconciles financial impact from rate changes as well as CMS unit weight updates

Configuration and Validation

• Validates configuration documents to ensure they accurately reflect the compensation terms of the negotiated contract
• Monitors claims payments to ensure contract terms are being adjudicated as intended
• Facilitates resolution to auditor questions by reconciling claims payment with contract terms

Dashboards, Scorecards and Performance Reporting

• Designs and develops Performance Reporting for the department via Scorecards focusing on financial trends, contract turnaround time, and timeliness of submissions to Claims department, among other metrics
• Maintains dashboards on vendor data, slicing and dicing by spend, contract status, line of business, place of service, GL Entity, and provider type
• Designs and develops actionable automated reports (routine, dashboard or ad hoc) to inform decision makers and other users
• Liaises and accommodates requests for information and analytical insight from Care Delivery Operations, Program Office, Sales, Marketing, General Accounting, Actuarial and Executives

Project Management

• Manages projects on systems integration, implementation of new federal or state legislation, and organizational or departmental initiatives
• Responds to requests for data and analysis by OR and WA states, such as on Mental Health Parity and All-Payer Claims Database
• Partners in performing Make/Buy analysis in care delivery externalization business cases

Other

• Data analyst duties, e.g., assists in the research, analysis, and remediation of moderately complex data issues that directly impacts network and financial reporting and analysis
• Business systems analyst duties, e.g., help define business rules applicable to the development and/or use of the application
• Perform other duties as requested

Qualifications

Minimum Education

• Bachelors Degree in Finance, Accounting or Business required or equivalent education and experience

Minimum Work Experience

• Minimum five (5) years of expert level knowledge in Financial Analysis and the use of MS Office applications and relational database design concepts

Additional Requirements

• Must understand and have working knowledge of all aspects of Managed Care, both institutional and professional, contracting by line of business including by not limited to Commercial, Medicare and Medicaid, capable of developing and incorporating into contracting strategy and reimbursement methodology
• Understand contracting and negotiating process
• Must understand and have working knowledge of provider contract types, concepts and data
• Experience in analyzing and modeling provider contracts involving various current rate methodologies: MS-DRG, APC, CPT, Capitation, Fee-for-Service, RBRVS, Per Diem, Per Case and Percent of Charges; and at a minimum, an understanding of performance/risk-based payment concepts and structure
• Ability to apply mathematical and financial techniques to complex analyses
• Ability to integrate sophisticated financial analysis techniques with financial modeling
• Strong computer skills with either SAS or SQL, advanced knowledge of Microsoft Excel and other analytics or database software
• Excellent oral and written communication skills, including delivering presentations to, and communicating and explaining complex technical and financial information with personnel at all levels of an organization
• Ability to negotiate and persuade - Strong interpersonal skills
• Ability to work effectively in both independent and team environments
• Must be adaptable and flexible: a "self-starter" with a strong sense of initiative and follow-through
• Ability to work independently in high-pressure circumstances with little or no supervision
• Knowledgeable in managed care contracting principles and language and regulatory requirements
• Knowledgeable in Medicare and Medicaid reimbursement methodologies and the associated regulations and requirements
• Self-motivated and able to apply judgment in the prioritization and coordination of multiple assignments and projects and adapt within a dynamic environment with competing priorities
• Excellent problem-solving skills
• Organized and efficient in their approach to the work and can work both independently and as a team member in achieving objectives
• Strong work ethic and flexibility in meeting the demands and strategic priorities of the department and organization

Preferred Education

• Master of Business Administration (MBA) or Public Health (MPH) or Master of Arts (MA) in Finance, Accounting, Economics, Healthcare Administration or related field or equivalent combination of education, knowledge, and work experience

Preferred Work Experience and Qualifications

• Five (5) years of experience in working with Medicare and Medicaid and managed care rate setting and contract modeling in either a healthcare provider or a health plan environment
• Five (5) years of experience working with financial analysis supporting managed care contracting with providers including but not limited to hospitals, professionals ranging from large medical groups to solo practitioners, mental health practitioners, ASCs, skill nursing facilities, renal dialysis facilities, home health and DME. Current working knowledge of all aspects of a provider contract.
• Five (5) years of expert level knowledge in the use of MS Office applications and relational database design concepts
• Knowledge of health care delivery systems and operations, specific knowledge of Kaiser Permanente medical care delivery operations and systems highly desired
• Experience with relevant corporate data systems including Tapestry, Financial Modeling System

Equal Opportunity Employer

At Northwest Permanente, we are committed to providing an environment of mutual respect where equal employment opportunities are available to all applicants without regard to race, color, religion, sex, pregnancy (including childbirth, lactation, and related medical conditions), national origin, age, physical and mental disability, marital status, sexual orientation, gender identity, gender expression, genetic information (including characteristics and testing), military and veteran status, and any other characteristic protected by applicable law. Northwest Permanente believes that equity, inclusion, and diversity among our employees are critical to our success, and we seek to recruit, develop, and retain the most talented people from a diverse candidate pool.