Decision Support Specialist III (Sr. Financial Consultant)

If you're ready to be part of our legacy of hope and innovation, we encourage you to take the first step and explore our current job openings. Your best is waiting to be discovered.

Day - 08 Hour (United States of America)

This is a Stanford Health Care job.

A Brief Overview
Decision Support Specialists are used by the Finance Division and have responsibility for analyzing and evaluating clinical, budget, and financial data in support of hospital service lines and cost centers to reduce/contain costs, identify adverse trends, conduct financial feasibility studies for new initiatives, improve efficiency and quality, and further the mission, goals and objectives of the hospital and clinics, and for presenting the results to management, physicians, task forces, and others.
• Employees in this job class are distinguished from related jobs in that they use decision support systems, databases, and spreadsheets to extract, compile, assimilate, analyze, and present data in a framework within which SHC's financial, budgetary, and operational performance can be continually measured and management can make sound business decisions.
• Key aspects of the job include evaluating the financial feasibility of programs and services, both proposed as well as existing; evaluation of operating and capital budget requests and performance; and cost, revenue, and outcomes impacts of alternative treatment practices.
• The successful Decision Support Consultant will be adept in understanding operational issues and their financial impact on hospital and clinic service lines.

What you will do
  • Budget Development and Analysis
  • Advises and counsels SHC staff in assigned areas in budget preparation procedures and processes.
  • Responsible for a group of assigned budgets by administrator and selected service lines.
  • Maintains liaison with department or service line business managers and administrative staff in the preparation and analysis of budgets and financial analysis of departmental or service line operations.
  • Develops operational and capital budgets in conjunction with department managers.
  • Monitors actual expenditures versus budget and prepares written reports and analyses to hospital management setting forth progress, adverse trends, and appropriate recommendations or conclusions.
  • Suggests improvements to enhance the budget process.
  • Financial Planning, Modeling and Analysis
  • Provides fiscal support to administrators, department managers and service line managers.
  • Evaluates new programs and services for financial feasibility with respect to inpatient and outpatient clinical operations, hospital services, as well as medical group services.
  • Assists service line management in the ongoing evaluation of products, programs, and/or clinical initiatives; recommends modifications and corrective actions to existing practices as appropriate.
  • Coordinates collection, interpretation, and analyses of clinical and financial data to respond to proposals for new products, services, and/or programs; identify and validate sources of data to include, but not be limited to: medical records, financial data, competitor data, patient volumes, benchmark data from other healthcare institutions, etc. and ensures accurate and timely submissions to external regulatory and reporting agencies as required.
  • Participates in the cost data development process and validation of cost standards.
  • Supports special projects and analytical activities as assigned.
  • Analyzes clinical revenue programs as requested by departments, administrators and other managers.
  • Prepares reports and analyses setting forth progress, adverse trends, and appropriate recommendations or conclusions.
  • Management Reporting and Analysis:
  • Performs variance analysis for assigned cost centers and selected service lines and advises management, including department or service line business managers, in order to provide information and to resolve problems concerning variances from approved budget.
  • Assists managers in understanding variance and other financial reports distributed by the Finance Department.
  • Develops or recommends improvements/enhancements to management reporting tools as needed.
  • Provides information to hospital and clinics management for the development of cost allocations.
  • Assists in reconciling decision support or budget data to source systems.
  • Decision Support:
  • Maintains liaison with hospital physicians, managers, departments, third-party payors, and clinical personnel to facilitate progress of clinical service line programs and objectives.
  • Assists in the further development of the DSS function at SHC.
  • Tests Decision Support Software and participates in the upgrade process.
  • Other:
  • Performs other related and incidental duties as needed or required.

Education Qualifications
  • Requirements at this level consist of those identified at Level II.
    Master's Degree preferred.

Experience Qualifications
  • 5 - 8 years of financial analysis experience with a Bachelor's Degree;
  • a Master's Degree and 3-6 years of financial analysis experience.

Required Knowledge, Skills and Abilities
  • Analysis & Problem Solving
  • Knowledge of the principles and practices of financial analysis and cost accounting.
  • Knowledge of analytical research procedures and methods.
  • Knowledge of local, state, and federal regulatory requirements related to the functional area.
  • Ability to analyze and develop solutions to problems.
  • Ability to analyze information, reach valid conclusions, and make sound recommendations.
  • Ability to apply judgment and make informed decisions.
  • Ability to communicate complex concepts in simple form to non-finance users to understand the appropriate use and limits of the information provided.
  • Ability to manage, organize, prioritize, multi-task, adapt to priorities, and meet deadlines.
  • Ability to learn new solutions, functionality, and technology.
  • Reporting & Data Management
  • Ability to prepare, distribute and explain regular and ad hoc financial reports and analyses for clients/customers.
  • Ability to assess reporting systems and develop process/procedural improvements.
  • Ability to capture data from available sources and turn it into useful information for decision-making.
  • Ability to develop management reporting tools or make recommendations regarding their improvement or enhancement.
  • Ability to perform tests, data auditing, and implementation of Decision Support software.
  • Customer Support / Interactions with Others
  • Ability to communicate effectively, orally and in writing, including summarizing data and presenting results both one-on-one and in group settings.
  • Ability to direct SHC staff on procedures and processes.
  • Ability to support the education and training of end-users.
  • Ability to provide advice and counsel clients/customers on a broad range of financial, budgetary, and operational matters with regard to cost/benefit analysis, cost effectiveness, and efficiency.

These principles apply to ALL employees:

SHC Commitment to Providing an Exceptional Patient & Family Experience

Stanford Health Care sets a high standard for delivering value and an exceptional experience for our patients and families. Candidates for employment and existing employees must adopt and execute C-I-CARE standards for all of patients, families and towards each other. C-I-CARE is the foundation of Stanford's patient-experience and represents a framework for patient-centered interactions. Simply put, we do what it takes to enable and empower patients and families to focus on health, healing and recovery.

You will do this by executing against our three experience pillars, from the patient and family's perspective:

  • Know Me: Anticipate my needs and status to deliver effective care
  • Show Me the Way: Guide and prompt my actions to arrive at better outcomes and better health
  • Coordinate for Me: Own the complexity of my care through coordination

#LI-RL1

Equal Opportunity Employer Stanford Health Care (SHC) strongly values diversity and is committed to equal opportunity and non-discrimination in all of its policies and practices, including the area of employment. Accordingly, SHC does not discriminate against any person on the basis of race, color, sex, sexual orientation or gender identity and/or expression, religion, age, national or ethnic origin, political beliefs, marital status, medical condition, genetic information, veteran status, or disability, or the perception of any of the above. People of all genders, members of all racial and ethnic groups, people with disabilities, and veterans are encouraged to apply. Qualified applicants with criminal convictions will be considered after an individualized assessment of the conviction and the job requirements.