Financial Analyst, Program

Financial Analyst, 340B Program, Finance
Valley Health Partners, Allentown, PA
Job Summary:
The Financial Analyst, 340B Program, is responsible for the supporting VHP's 340B Program. This position will oversee aspects of the inventory purchasing process and have a thorough understanding of third party administrator systems and functions. This position will build out a suite of reports to monitor program eligibility, use, and effectiveness. The Financial Analyst, 340B Program, will ensure compliance with program requirements, represent VHP in all program audits, and continuously assess opportunities for improvement and cost savings.
Qualifications:
Education: Bachelor's degree in accounting, finance, healthcare administration, or a related field. Relevant master's degree preferred.
Experience: Two years of 340B and/or financial analyst experience required.
S kills and Knowledge:

• Strong understanding of 340B Programs.
• Strong knowledge of MS Office applications including Excel.
• Must be well organized, detail oriented and able to prioritize tasks appropriately.
• Ability to communicate effectively both verbally and in writing with various levels of staff and other constituents
• Must have the ability to effectively handle multiple tasks, duties, responsibilities, and the management of time while meeting deadlines.
• Must have ability to maintain strict confidentiality and use discretion with sensitive matters.

Essential Functions:
Purchasing/Inventory

• Oversee aspects of the inventory purchasing process for pharmacies and clinics.
• Monitor ordering processes, integrating the most current pricing from wholesalers.
• Analyze invoices, shipping, and inventory processes.
• Comply with all track-and-trace legal requirements of the Drug Supply Chain Security Act for purchasing and distribution of drug products.

Third-Party Administrator

• Develop a thorough understanding of the split-billing/third party administrator systems and the functions to be perform
• Educate others involved in the purchasing process to ensure proper operation and complian
• Review referral claims as needed to determine eligibility to be included in 340B drug savings

Reporting

• Use provided tools to monitor prescription data, patient data, hospital data, payer data, site of care, and, if required, ICD-10 cod Summarize and report results to the appropriate individuals.
• Develop reports that can be used to educate staff and assist management in tracking the overall financial impact to the organizatio Build other reports, as appropriate, to monitor and improve 340B Program compliance and performance.
• Maintain copies of reports for compliance and audit purpose
• Assist leadership in developing appropriate financial metrics to assess areas of improvement.
• Develop and update 340B Program reporting packages detailing volume, financial value, and other reporting metrics as neede
• Monitor, report, and analyze contract pharmacy 340B activities; make recommendations that would improve efficiency.
• Perform covered entity-specific gross financial analysis and make recommendations to improve program performance. Track financial impact over time, identify root causes of adverse trends, and make recommendations to improve the program's financial stability.
• Review and refine monthly 340B cost savings reports detailing purchasing and replacement practices, as well as dispensing patterns.

Audits

• Represent VHP in all 340B Program audit
• Ensure compliance with 340B Program requirements for qualified patients, drugs, and location
• Evaluate patient eligibility for qualified and non-qualified patients in mixed-use areas and clinics by reviewing patient medical records, insurance plans, and, if applicable, hospital stat
• Ensure that facilities maintain adherence to 340B Program regulations and guidelines.
• Develop and foster working relationships with other departments to facilitate productive exchanges of information to improve program efficiency and promote program compliance. Provide data, information, and reports as needed for other areas within the organization.

Program Enhancement & Optimization

• Develop a thorough understanding of the 340B Program and improve the overall efficiency, value, and internal support of the 340B Program.
• Assess opportunities for cost savings and system improvements to yield higher compliance.
• Continue to build knowledge of the health care and pharmacy services industry; use that knowledge to identify ways, and make recommendations, to improve the 340B Program.
• Evaluate and implement cost savings opportunities

Financial Analysis

• Analyze past and present financial data and performance.
• Work with AP to analyze billing trends.
• Perform periodic reviews and financial evaluations.
• Create financial models to inform forecasts.

Other Duties

• Performs other related duties as assigned for the purpose of ensuring the efficient and effective functioning of the department and 340B program.

Benefits:

• Choice of 2 Medical Plans
• Choice of 2 Dental Plans
• Choice of a Vision Plan
• 403b Retirement Plan with company match
• Paid Time Off for holidays, vacation, sick & personal days
• Employee Assistance Program
• Tuition Reimbursement
• Company paid long and short-term disability.