InnovaCare Management Services Company, LLC
InnovaCare Health isn't just a healthcare provider; we're a catalyst for positive change. We're a dynamic organization committed to revolutionizing value-based healthcare, one patient at a time.
Our diverse and inclusive team of 1,100+ passionate individuals is dedicated to improving lives, both inside and outside our 40+ clinics. We believe in fostering a work environment that empowers our employees to thrive, offering opportunities for professional growth and a strong work-life balance.
Are you ready to make a difference?
Join us as we strive to reshape the future of healthcare. Together, we can create a healthier tomorrow.
Job Summary
The Senior Financial Analyst/Associate will support the Financial Planning & Analysis (FP&A) team and collaborate closely with the Analytics, Financial Reporting, and Corporate Budget teams. This role will focus on producing insightful financial analysis and reporting to aid in the stability and growth of healthcare operations. The Senior Financial Analyst/Associate will contribute to budgeting, forecasting, and variance analysis, working to ensure data accuracy and strategic alignment across the organization.
In addition, the Senior Financial Analyst/Associate will have the opportunity to contribute and/or lead corporate strategy projects, analyzing key metrics and market trends to support strategic decision-making. This role is ideal for an analytical professional who is eager to expand their FP&A experience while gaining exposure to corporate strategy within a dynamic healthcare environment.
This position is a decision-support role to the Vice President of FP&A and Senior Management in helping develop and communicate the financial impact of healthcare practices across different groups with various streams of revenue.
Essential Job Functions
- Assist on internal and external reporting matters, both formal and informal.
- Contribute to corporate strategy by analyzing financial data and market trends to identify growth opportunities and potential areas for operational efficiency.
- Support strategic decision-making by preparing and presenting insights into the profitability and sustainability of various business models and reimbursement structures.
- Assist in preparing the corporate annual operating plan, distribution of monthly results against the plan and assist department leaders in understanding results and variances.
- Produce monthly, quarterly and ad-hoc reporting packages to report on the stability of healthcare operations within the business, across platforms and at the independent practice level
- Ability to expand to granular detail the performance of business lines (Medicare, Medicaid, Commercial Private, Commercial Exchange & Self Pay) and reimbursement models (Fee for Service, Capitated, Capitated Risk, Capitated Shared Risk/Savings)
- Understanding of Government Healthcare Reimbursement (Medicare Advantage, Managed Medicaid, Managed Exchange – ACA)
- Ability to perform rate/volume analyses for forecasting stability of healthcare practices
- Assist in the development and reporting of KPI's and business drivers to identify cost savings and revenue opportunities at a summary/practice level
- Prepare recurring reporting blending financial reported results, adjusted forecasts, performance indicators as key drivers and sensitivity to adjustments of key drivers.
- Aid in the development and reporting of company, regional and location level forecasts, and help in bridging variances between forecast, actual and budget.
- Assist in the development and reporting of KPI's and business drivers to identify cost savings and revenue opportunities.
- Develop financial models to be used for evaluation of business profitability cases and alternatives, for example, focusing on Contract Profitability and Product Profitability.
- Leverage system and reporting tools to provide meaningful analyses Prepare ad hoc reports, analyses and lead special projects.
- Prepare and present key financial performance reporting on a weekly and monthly basis utilizing available systems.
- Provide financial and analytical support to senior management for decision-making.
- Perform other duties as assigned.
Minimum Required Education, Experience & Skills
- Bachelor's degree in Accounting, Finance or Economics preferred.
- One to three years of previous finance or accounting experience preferred.
- Detail oriented with strong planning, organizational and analytical skills.
- Strong computer skills with advanced knowledge in Excel and PowerPoint.
- Strong knowledge of GAAP, cash flow and understanding of accounting systems and processes.
- Ability to meet tight deadlines.
- Communicate in English; both oral and written.
- Mindful of communication cues (verbal, non-verbal, written, listening and visual)
- Maintain confidentiality, discretion and caution when handling sensitive information.
- Multi-task along with attention to detail.
- Self-motivation, organized, time-management and deductive problem-solving skills.
- Work independently and as part of a team.
What We Do
InnovaCare Health improves the lives of members and physicians through innovative solutions for value-based healthcare. In each unique market the company serves, InnovaCare works across the healthcare ecosystem – with patients, providers, payers and other partners – to increase access to high-quality, affordable care.
Based in White Plains, N.Y., InnovaCare has been on the forefront of value-based care for more than a decade, distributing risk and developing proprietary technologies to inspire patient and provider engagement. Through an integrated portfolio of health plans, medical service organizations, clinical networks and more, the company manages more than 500,000 lives, including more than 150,000 dual-eligible beneficiaries. InnovaCare’s Medicare Advantage plans have received NCQA accreditation and 4.5-star quality ratings from the Centers for Medicare and Medicaid Services (CMS).
