The Sr Cost Accountant reports to department leadership and is responsible for the development, maintenance and processing of the cost accounting system (Allscripts EPSi). This individual maintains cost accounting data with a high degree of accuracy and integrity, coordinates with other department leaders to develop standard costs associated with each procedure, and ensures overhead costs are properly allocated. The Sr Cost Accountant is responsible for having a thorough knowledge of cost accounting principles and concepts, as well as an understanding of hospital financial concepts and terminology (i.e. DRG, RCC and RVUs) to provide a basis for operational and clinical analysis. This individual provides ongoing analysis of the Service Line Profitability, Utilization impacts and adhoc profitability reporting for both VPs and Directors. The Sr Cost Accountant will need to be able to communicate these impacts in a clear and actionable way.
- Family-Centered care that focuses on the need of the child first and values the family as an important member of the care team
- Excellence in clinical care, service and communication
- Collaborative within our institution and with others who share our mission and goals
- Leadership that set the standard for pediatric health care today and innovations of the future
- Accountability to our patients, community and each other for providing the best in the most cost-effective way.
Prepares and analyzes monthly/quarterly/year-end cost accounting closing, and financial reporting information.
- a. Obtains and loads clinical utilization data and works with errors to ensure that utilization is mapped to the correct department and that standard codes for RVU is maintained.
Responsible for accurate product costing and standard cost reporting (ABC, ASC, PLC, RCC, RVU and VCC, costing).
- a.Prepares, analyzes and communicates key financial information and provides support to management, Directors and VP`s regarding financial reporting and other issues as related to various cost standards.
- Prepare detailed account analysis to reconcile revenue, expense, cost and other accounts by customer type by division.
Works with various departments to maintain, analyze, and optimize all positive and negative predictive values of statistical value data.
- a.Aiding in analyzing standard costs for proposed acquisitions and assisting in the development of new standard costs as required
Works with revenue centers and purchasing to develop and setup annual standard costs and labor rates for products (product line costing).
- a.Along with calculating direct labor, material and production costs, cost accountants also establish the value of inventory as it changes with market fluctuations
Coordinates on cost metrics with management to drive cost improvements.
- a.Analyzes and solves problems in utilization process, costing process, and supporting statistics associated with financial and service line reporting
May escalate issues to manager for resolution, as deemed necessary.
- a.Serves as consultant to all levels of management to provide decision support for initiatives, policies and procedures.
Analyzes Disproportionate Share payments and loads, reconciles and reports out their impact.
- a. Get the DISH amounts for the month and load them in PLA, reconcile and report out impact by service line
- Performs miscellaneous job related duties as requested.