Financial-Sr Analyst - Wooddale, IL in Wood Dale, IL at Quest Diagnostics

Date Posted: 11/18/2020

Job Snapshot

Job Description

Sr. Financial Analyst, Commercial 

Job Summary:

The Sr. Financial Analyst, Commercial reports to the Sr. Finance Manager, Commercial and is responsible for routine and ad-hoc tasks including, but not limited to, those outlined below.

 

Key Roles and Responsibilities:

Commercial Functional Expense and Headcount

•         Analyze month-end results and provide variance explanation

•         Prepare monthly reporting package and review with Commercial business partners

•         Prepare budget/forecast/outlook

•         Assist Commercial team with proper coding of expenses

Pipeline Reviews

•         Assist Commercial Excellence (CE) SFA in preparation of Pipeline Reports

•         Assist CE SFA in leading pipeline calls with Commercial team

Deal Modeling for New Business

•         Financial modeling for prospective large or complex deals

•         Analyze performance of existing or recently closed large deals

•         Includes Rapid Response Labs (RRLs) and Purchased Testing Agreements (PTAs)

Account Profitability

•         Maintain/update Account Management Tool (AMT)

•         Review existing accounts/segments to determine opportunities for improving profitability

•         Financial modeling for new opportunities

In-Office-Phlebotomist (IOP) Profitability

•         Review/update financials for underperforming IOPs

•         Gather feedback from Sales Directors and Patient Services Managers regarding actions to improve profitability for the associated accounts

Bad Debt

•         Review/update client reserves for month-end

•         Analyze month-end results and provide variance explanation

•         Prepare budget/forecast/outlook

Drive Cash

•         Partner with Optum team to identify and drive opportunities to reduce patient price concessions

•         Partner with Commercial team to identify and drive opportunities to reduce/eliminate waivers

•         Participate in RCM Kaizen projects

Business Partnering

•         Participate in Executive Sales Director staff meetings

•         Participate in ride-alongs with Sales Representatives

•         Become a “go-to” resource for the Commercial team members

•         Understand how billing and revenue recognition teams impact revenue

Daily Volume Reporting

•         Collect and report actual daily volumes

•         Analyze unexpected variances and provide insights to regional leadership team

•         Reconcile with corporate reports for accuracy (intra-month and month-end)

•         Maintain/update templates

•         Assist in cycling budget/forecast/outlook by day based on prior trends

•         Develop a working knowledge of how volume flows through the region and key drivers of change/variability

Revenue (Volume and Rev/Req) Analysis

•         Analyze month-end results and provide variance explanation

•         Assist in preparation of budget/forecast/outlook

•         Review client revenue by account for potential pricing errors (minimize retros)

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