Healthcare Business Analyst - Indianapolis Health

Description

The Healthcare Business Analyst is responsible for reviewing and summarizing cost/expense reports for healthcare and human services entities, including managed care organizations, healthcare providers, and child welfare organizations. Cost/expense reports entail categorizing utilization, service expense, revenue, and administrative expenses across types of services, lines of business, and rate cohorts. This role will focus on cost reporting and rate setting projects; however, duties will include supporting projects with a wide range of quantitative and qualitative analysis, program research, design, and documentation, writing client reports and presentations, and communicating with a wide range of audiences, both clients and internal to Milliman. The successful candidate can work in a deadline-oriented, fast-paced environment, and will need to be able to work effectively both in teams and independently. The healthcare business analyst will be required to pay close attention to detail in their daily work while maintaining adherence to internal and external deadlines.

Role

You will:

• Collect, review, and provide feedback on cost and other financial reports submitted by third-party entities serving health and human service agencies
• Collaborate with other consultants to create and implement cost report templates for third-party completion
• Utilize subject matter expertise to evaluate cost and other financial reports in relation to provided instructions
• Perform reconciliation of cost reports relative to a general ledger, encounter data, and/or audited financial statements
• Provide training to client and third-party entities on the specifics of cost/expense reports processes
• Use tools to develop processes and implement procedures for gathering, categorizing, and allocating claim and financial data.
  • Tools may include data warehouse tables, encounter data, client financial templates, and ad-hoc reports
• Assist with the implementation of new programs, strategies, and process improvements
• Perform ad-hoc reconciliations and work on special projects, as required
• Ensure quality assurance and peer review are completed on all client deliverables
• Recognize and identify reporting errors and develop proposed solutions
• Communicate results to internal stakeholders, verbally and written, within all levels of our organization

The ideal candidate will have:

• Basic knowledge of health care industry and government health plans such as Medicaid etc.
• Basic knowledge of accounting/financial statements and accounting processes for healthcare entities
• Basic knowledge of insurance concepts such as reserving and premium rate setting
• Basic knowledge of health economics concepts such as medical loss ratio, underwriting margin, cost and utilization metrics

While the healthcare business analyst will focus primarily on healthcare payer projects, they will also have the opportunity to gain experience across a range of human services projects (e.g., child welfare, healthcare provider, and housing) while developing sophisticated consulting skills and abilities designed to position him/her for broader and deeper roles. If they are successful, they will be given the opportunity to complete increasingly complex tasks to develop broader project management skills. The ideal candidate excels in the collection of cost data and other information from healthcare payers and providers, as well as the analysis and manipulation of large data sets. This candidate should have a passion for doing high-quality work, continuously learning and improving, effectively analyzing cost data, consistently developing data and rate calculation methodologies and regularly exceeding consultants' and clients' expectations.

Qualifications

Required:

• At least 2 years of professional experience in financial analysis/reporting related experience
• Bachelor’s degree or higher preferably with a major or concentration in finance, accounting, business management, or another relevant field of study. Master’s degree in public health or business administration preferred

Desired:

• Knowledge of pharmaceutical industry and/or US healthcare system
• Experience presenting business solutions to clients or other external stakeholders

Milliman Benefits 

We offer competitive benefits which include the following based on plan eligibility:

• Medical, dental and vision coverage for employees and their dependents, including domestic partners
• A 401(k) plan with matching program, and profit sharing contribution
• Employee Assistance Program (EAP)
• A discretionary bonus program
• Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason; full-time employees will accrue
• 15 days of PTO per year, and employees working less than a full-time schedule will accrue PTO at a prorated amount based on hours worked
• Family building benefits, including adoption and fertility assistance and paid parental leave up to 12 weeks for employees who have worked for Milliman for at least 12 months and have worked at least 1,250 hours in the preceding 12-month period
• A minimum of 8 paid holidays
• Milliman covers 100% of the premiums for life insurance, AD&D, and both short-term and long-term disability coverage
• Flexible spending accounts allow employees to set aside pre-tax dollars to pay for dependent care, transportation, and applicable medical needs

Location  

The person hired for this role will be required to work on-site in the Indianapolis office on a weekly basis, however, flexible work arrangements can be discussed.

About Milliman

Independent for over 75 years, Milliman delivers market-leading services and solutions to clients worldwide. Today, we are helping companies take on some of the world’s most critical and complex issues, including retirement funding and healthcare financing, risk management and regulatory compliance, data analytics and business transformation. Through a team of professionals ranging from actuaries to clinicians, technology specialists to plan administrators, we offer unparalleled expertise in nearly every segment of stakeholders in the global healthcare system. 

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.