UMass Memorial Health · 9 hours ago
Sr. Financial Analyst, Pharmacy 340B, 40hr, Day
Worcester, MA
Full-time
Onsite
Mid, Senior Level
$65K/yr - $117K/yr
2+ years expUMass Memorial Health is a premier health system of Central Massachusetts, dedicated to exceptional patient care and academic excellence. The Sr. Financial Analyst will support financial planning and reporting processes, analyze financial data, and collaborate with various departments to meet financial targets and improve revenue capture.
DiabetesEducationHealth CareHospitalMedicalPersonal Health
Responsibilities
Supports and works with customers, Managers, Vice Presidents and Administrators through a process of proactively understanding customer needs. Resolves inquiries and provides training in use and navigation of multiple financial systems and reports
Develops a strong working knowledge of the forecasting/budgeting financial software and obtains efficient navigation capabilities. May assist with system quality assurance, testing and/or maintenance
Performs ad hoc and routine variance analysis and/or audits. Works collaboratively to develop and implement corrective actions to meet financial targets
Obtains data from the financial systems as needed. Designs, prepares and reviews various scheduled and ad hoc reports for presentation, distribution and/or ongoing financial data evaluation
Performs other duties as required including, but not limited to, identification of forecasting assumptions, preparation of an annual operating plan, and reconciliations of data from multiple financial systems
Participates in committees and work teams for various projects related to the budget process. May assist management in feasibility evaluation studies, market analysis and business plans
Trains and mentors Financial Analysts
May manage external contracts and revenues, which may include but is not limited to contract analysis, income review, funding, grant monies, cash collection, and invoicing
May processes DEFAs and change forms and resolve discrepancies with the Medical Group and Medical School payroll departments. May coordinate services and additional compensation for moonlighting, sign-on bonuses, and medical school related reimbursements. May oversee departmental purchasing and payables documents
Develops a thorough understanding of the 340B (federal drug discount program) regulations and guidelines for mixed-use pharmacies, prescription centers and contract pharmacies. This includes attending education sessions offered by Apexus 340B University, webinars and conferences
Develops, tests, and performs 340B optimization reviews which helps improve revenue capture at our 150+ contract pharmacies. Identifies shortcomings with 340B Third Party Administrators (TPAs), and designs targeted reports and manual review processes for missed opportunity on high dollar prescriptions
Builds and maintains 340B only NPI database to ensure the data loaded in all four 340B TPAs is accurate at all times to ensure compliance with 340B regulations
Designs a WAC (Wholesale Acquisition Cost) dashboard that tracks purchasing patterns (340B, GPO and WAC accounts) and helps identify opportunities to reduce the drug spend for mixed-use pharmacies. Reviews the items with high opportunity, identify root cause and make recommendations to the various teams including buyers, 340B Coordinator, Pharmacy Operations Manager, IS Pharmacists, Willow Analyst, etc. to realize the savings
Qualification
Required
Bachelor's Degree with a major or concentration in Health Care Administration, Math, Data Science, Economics, Finance, Accounting or related field
Minimum of 2 years of directly relevant work experience in finance
Must possess a fundamental understanding of financial management concepts and be able to assist in the development of financial plans
Familiarity with accounting principles and financial statements
Demonstrated experience utilizing Microsoft Office Suite programs (e.g. Excel, PowerPoint, Word, Access, Project) with expertise in modeling in Excel
Exhibit excellent analytical and interpersonal skills and the ability to develop and present creative approaches and solutions to strategic business issues
Strong organizational and communication skills, the ability to work with non-financial managers, and the ability to manage multiple projects
Preferred
MBA in Finance
Knowledge of discounted cash flows
Familiarity with hospital/healthcare delivery systems, financial forecasting and budgeting
A comprehensive working knowledge of computer-based financial/forecasting/budgeting techniques strongly preferred
Benefits
Signing bonus
Company
UMass Memorial Health
UMass Memorial Health is the health and wellness partner of the people of Central Massachusetts.
10001+ employees
Funding
Current Stage
Late StageTotal Funding
$4.7MKey Investors
Federal Emergency Management Agency
2022-12-01Grant· $4.7M
Leadership Team
Victoria L. McCandless
Senior Vice President, Chief of Staff, System CEO Communications Officer
Sergio Melgar
EVP & CFO
Recent News
2025-11-12
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