Summary:
This role is a key member of the CHRISTUS Institute for Innovation & Advanced Clinical Care (CIIACC) and will be responsible for providing support within the Office of Research Finance Administration (ORFA) to the CHRISTUS facilities, senior leadership, and other affiliates. The Research Budget Analyst facilitates Federal, State, industry, or privately funded research activities through research award management for the pre-award and post-award phases. The analyst will prepare and negotiate study budgets and payment terms to ensure financially sound contracts for new awards and negotiate and optimize budget and payment terms for active studies to maximize financial objectives for revenue and compliance as needed. The analyst will be responsible for entering and maintaining the financials in ORFA's CTMS system, timely invoicing for funded trials, and ensuring timely payment of vendor invoices. This role will be responsible for the timely tracking and collection of payments, reconciliation of payments received to the CTMS system, and ensuring all funds are allocated to the appropriate facilities. This position will serve as the financial liaison for finance interactions between ORFA, the accounting teams, the Office of Investigator Support, and various sponsors and funding sources. The analyst will synthesize financial data from multiple sources into clear, meaningful analysis for monthly and annual reporting and will assist in identifying, quantifying, and prioritizing opportunities to improve net revenue realization and cash flow at the system and facility level. Additionally, the analyst ensures accurate records are maintained and in compliance with system and institutional policies, practices and governing rules and regulations.
Responsibilities:
- Meets expectations of the applicable OneCHRISTUS Competencies: Leader of Self, Leader of Others, or Leader of Leaders.
- Coordination and management of patient stipends system and contract coverage, onboarding and training regional leadership and their respective associates on process and access provisioning.
- Review and interpret clinical research protocols and develop budgets to capture trial activity and all research revenue items.
- Collaborates with regionals leaders and other team members in clinical and technical settings to ensure complete, comprehensive, accurate and timely budgets.
- Negotiates directly with commercial sponsors/CROs, academic sties, and other extramural funding sources to reach an agreement on budget and payments terms. This includes documenting progress and providing timely updates to all affected parties and teams.
- Analyzes sponsors' budget proposals to determine if the proposed funding is adequate to cover costs associated with trials depending on the complexity, frequency of patient visits, and reporting requirements. Counters proposals if required and finalizes budgets with sponsors.
- Ensures a quick turnaround time to complete budgets and activate studies in a timely manner to meet industry standards.
- Responsible for entering and maintaining the budget and other financial information into the CTSM system or other software to maintain proper reimbursement and revenue integrity.
- Creates, updates, and maintains files which include all pertinent correspondence and information regarding pre-aware activities for clinical trials.
- Works with regional leaders and research accounting to ensure the appropriate cost centers are used and internal transfer of funds are timely and accurate.
- Reviews coverage analysis to ensure coverage determinations are accurately negotiated for within study budgets. Provides necessary information to the coverage analysis team during and after finalization of study budgets.
- Ensures accurate costs to patients are captured in the budget and informed consent.
- Works with research accounting to ensure timely and accurate monthly and annual revenue reporting.
- Reviews payment details and reconciles to CTMS system.
- Assists in maintaining a database that will provide up-to-date financial information about all department sponsored trial and investigator-initiated funding.
- Investigates and obtains supporting documentation to assist in the collection of aged receivables.
- Manages the participant payment system to ensure accurate and compliant payments are issued to trial participants in accordance with the budgets and Informed Consent Forms.
- Successfully maintains quality requirements for work through established quality monitoring processes and actively participates in audit findings resolution, when assigned.
- Conduct special department related projects as they are assigned.
- Meets all productivity requirements required by established department guidelines.
- Prepares detailed audit reports, cost reports, etc. for departmental and institutional use.
- Supports and manages existing capabilities related to the standardization and consolidation of daily/weekly/monthly reporting revenue cycle reporting.
- Facilitates development and implementation plans to enable the effective benchmarking and comparative reporting of key revenue cycle metrics.
- Performs financial opportunity assessments to identify opportunities to improve revenue cycle performances, improve cash flow and net revenue realization.
- Provides training and support to team members on budget-related processes and procedures.
- Cultivates internal relationships at the corporate and facility level.
- Attends in-services, departmental meetings, applicable trainings and/or events to remain abreast of new policies and procedures.
- Ensures Good Clinical Research Practice standards.
- Cultivates external relationship to ensure strong working relationships.
- Conforms with and abides by all regulations, policies, work procedures, and instructions.
- Ability to work with personal computers using standard word processing software, spreadsheets, and programs for database usage.
- Ability to practice independently, have strong verbal, written, and collaborative communication skills, organizational and critical judgment skills, and be able to interact effectively with team.
- Strong attention to detail and organizational skills required.
- Must function as a contributing and effective member of the team.
- Reflects CHRISTUS values in day-to-day operations and interactions with others.
- Should have the ability to mitigate and drive solutions regarding site budgeting challenges.
- Must have critical thinking and analysis skills to identify and implement best practices and contribute to continuous improvement for site budgeting.
- Ability to handle a large volume of assignments while effectively dealing with ambiguity.
- Excellent communication and interpersonal skills to ensure strong collaboration among teams.
Job Requirements:
Education/Skills
Bachelor's Degree - field of study: Business Administration, Nursing, Finance, Healthcare, or related filed, or equivalent years of experience in lieu of education required.
Experience
2-4 years of experience in clinical research budgeting and finance, financial data analysis, research contracting.
Licenses, Registrations, or Certifications
NA
Work Schedule:
5 Days - 8 Hours
Work Type:
Full Time
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