Senior Cost Analyst - West Orange, NJ

Job Overview:

The Senior Cost Analyst utilizes the STRATA Cost Accounting application to process general ledger, payroll and statistical data, to develop consistent costing models across the enterprise. A comprehensive understanding of GL expenses, overhead allocation methods, and alignment of expenses with revenue is leveraged to accurately calculate the cost of services, to be used to analyze the financial performance of service lines, comparing system-wide procedural cost and utilization.

This position reports to the Manager of Decision Support and will work closely with other members of the Decision Support team. This position will be hybrid remote, working from home and travel between the RWJBarnabas Health locations may be required.

Qualifications:

Required:

• Bachelor s degree in Finance/Accounting required.
• 3-5 years experience with Healthcare Cost Accounting.
• Proficient in Microsoft Excel, and strong analytical skills required
• Must be detail-oriented and demonstrate ability to analyze large amounts of data, and present a meaningful format.

Preferred:

• Master s Degree is a plus.
• Experience with Strata Cost Accounting Application, is a plus.

Scheduling Requirements:

• This position will be hybrid remote, working from home and travel between the RWJBarnabas Health locations may be required.

Essential Job Functions

• Maintains cost accounting rules for each facility, to ensure consistent handling of direct and indirect expenses, and appropriate alignment of expenses with revenue.
• Develop an efficient process to facilitate timely GL cost updates and consistency across the sites.
• Responsible for maintaining department mapping tables, GL account to component mapping rules, payroll account to component mapping rules and, overhead allocation rules to ensure allocated costs are appropriately aligned to encounter data.
• Communicates effectively with site Finance department managers to gain understanding of GL expenses, research GL changes, make recommendations for indirect allocations and review costing results.
• Reconcile GL Revenue to Charge data within Strata application to ensure that data is accurately captured and aligns with the cost allocated.
• Prepare work papers to reconcile Strata GL data to Financial Statements, audit GL account to component mappings, Indirect step-down results and document the costing model.
• Develop an efficient process to facilitate timely GL cost updates and consistency across the sites.
• Performs weekly audit of costing results applied to encounter data to ensure completeness of encounter cost data.
• Participates in Cost Accounting user group discussions to learn about costing system enhancements and stay abreast on trends in industry costing methods.
• Development of costing model for new entities and training new staff on cost accounting module.
• Generates reports in response to ad hoc requests, ensuring accuracy and timeliness of the data.

Other Duties:

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

At RWJBarnabas Health, our market-competitive Total Rewards package provides comprehensive benefits and resources to support our employees physical, emotional, social, and financial health.

• Paid Time Off (PTO)
• Medical and Prescription Drug Insurance
• Dental and Vision Insurance
• Retirement Plans
• Short & Long Term Disability
• Life & Accidental Death Insurance
• Tuition Reimbursement
• Health Care/Dependent Care Flexible Spending Accounts
• Wellness Programs
• Voluntary Benefits (e.g., Pet Insurance)
• Discounts Through our Partners such as NJ Devils, NJ PAC, Verizon, and more!

Choosing RWJBarnabas Health!

RWJBarnabas Health is the premier health care destination providing patient-centered,

high-quality academic medicine in a compassionate and equitable manner, while delivering

a best-in-class work experience to every member of the team. We honor and appreciate the privilege of creating and sustaining healthier communities, one person and one community at a time. As the leading academic health system in New Jersey, we advance innovative strategies in high-quality patient care, education, and research to address both the clinical and social determinants of health.

RWJBarnabas Health aims to truly make a unique impact in local communities throughout New Jersey. From vastly improving the health of local residents to creating educational and career opportunities, this combination greatly benefits the state. We understand the growing and evolving needs of residents in New Jersey whether that be enhancing the coordination for treating complex health conditions or improving community health through local programs and education.

Equal Opportunity Employer

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