Pricing Analyst

Company: Novant Health
Location: Charlotte
Posted on: February 16, 2020

Job Description:

Novant Health Business Development & Sales Financial Strategy team develops, evaluates and implements pricing strategies and tactics for all markets, facilities, services and payors across Novant Health. The team creates negotiation analytics and maintains approximately $4B annual operating revenue from commercial and government contracts including performance and value based care. Business Development & Sales Financial Strategy is responsible for all pricing strategy decisions including more than 15 facility charge masters covering every billable item at Novant Health. The Financial Strategy team provides thought leadership and financial analysis for various and new emerging payment arrangements including risk models, episodic contracts and other strategic projects. Companywide pricing strategy, market competitiveness and go-to-market approaches are developed and set for Novant Health by the Business Development & Sales Financial Strategy group.Business Development & Sales responsibilities are constantly evolving and currently represent key components of Novant Healths strategic imperatives. The department consists of 2 teams: payor relationship management and financial strategy. The Pricing Analyst role is in the financial strategy group. This group partners with the executive team, facility and medical group leadership, service line administration, and other Consumer Strategy teams to bring transformational ideas to the organization. The Pricing Analyst responsibilities will most commonly include:

• Conducting thorough analysis of internal and external factors surrounding payor negotiations and renewals as well as ongoing proposal development and evaluation
• Utilizing internal data systems and external data to drive analyses. Data sets will include claims and clinical sources. Reconciling and verifying data to ensure data integrity and reasonableness.
• Building one-off financial projections, decision support models and financial reporting for evolving new products, performance programs, risk models and other initiatives
• Evaluating annual chargemaster price changes and maintaining prices for approximately 300K billable items
• Assessing competitive pricing and value based care position utilizing varying data sources
• Providing pricing support for various multi-disciplinary projects in support of NH pricing strategy, strategic imperatives and revenue cycle activities
• Evaluating healthcare total cost of care risk and opportunities for populations
• Predicting downstream impact to Novant Health of changing utilization under risk arrangements.The Pricing Analyst must have strong analytical skills, good organization and communication skills, and the ability to manage multiple projects to meet aggressive deadlines. A successful Pricing Analyst will possess a strong intellectual curiosity and desire to learn and tackle new issues daily. The initiative to take ownership of projects and think about the impact of each decision on all organization operations is also a crucial trait for this position.
  • Education: Bachelor's degree required. Bachelor's degree in Accounting, Finance, Economics, Healthcare Administration or related field. Master's degree preferred.
  • Experience: Minimum of one year of experience in analysis required.
  • Additional Skills Required: Excellent analytical skills and ability to manipulate large data sets from multiple systems using MS Office (including Excel and Access), SAS/Webi, or other database management tool. Ability to distill data to salient information and recommendations and present findings of all analyses in a logical, concise manner and format required. Excellent communication skills required. Basic accounting, financial or economical analytic skills required. Ability to manage, prioritize, and take ownership of a variety of projects and demonstrate progress, meet deadlines, and bring items to closure. Comply with and proactively support departmental and organizational vision, strategic imperatives, and policies and procedures. Develop a strong team player environment, prompt open effective communication, and constructively resolve internal and external conflicts.
  • Additional Skills Preferred: Familiarity with current common coding practices including CPT4, ICD10CM, and DRGs as well as current Medicare reimbursement methodologies. Knowledge of pricing, healthcare finance, managed care, provider incentives, and risk contracting preferred. Understanding of healthcare alternate payment models and risk contracts for populations, a plus. Health insurance experience, a plus. SQL experience a plus.It is the responsibility of every Novant Health team member to deliver the most remarkable patient experience in every dimension, every time.
    • Our team members are part of an environment that fosters team work, team member engagement and community involvement.
    • The successful team member has a commitment to leveraging diversity and inclusion in support of quality care.
    • All Novant Health team members are responsible for fostering a safe patient environment driven by the principles of "First Do No Harm".Job Opening ID: 2020-68144 Name: Business Development & Sales Name: 8:00am-5:00pm Mid: USD $35.02/Hr. External Company URL: https://www.novanthealth.org/careers.aspx

Keywords: Novant Health, Charlotte , Pricing Analyst, Professions , Charlotte, North Carolina