Financial Analyst, 340B- Network Pharmacy Jobs in Edison at Hackensack Meridian Health

Overview

Our team members are the heart of what makes us better.

At Hackensack Meridian Health we help our patients live better, healthier lives — and we help one another to succeed. With a culture rooted in connection and collaboration, our employees are team members. Here, competitive benefits are just the beginning. It’s also about how we support one another and how we show up for our community.

Together, we keep getting better - advancing our mission to transform healthcare and serve as a leader of positive change.

The 340B Financial Analyst plays a vital role in maintaining the financial health and compliance of the 340B drug program. This position is responsible for the financial analysis and compliance support of the 340B drug program. This includes analyzing program data, tracking and reporting on financial performance, identifying cost savings opportunities, and assisting with compliance activities. A strong understanding of 340B regulations, financial principles, and data analysis techniques is essential. Additionally, the role requires expertise in accounts payable/receivable principles, 340B program guidelines, and hospital billing practices. The Analyst will collaborate with internal stakeholders, such as pharmacy, and external stakeholders, including wholesalers and third-party vendors, to resolve discrepancies and optimize the 340B revenue cycle while providing direct support to the 340B Program Director.

Responsibilities

A day in the life of a 340B Financial Analyst at Hackensack Meridian Health includes:

• Analyze 340B purchasing data to identify trends, variances, and potential cost-saving opportunities.
• Develop and maintain financial models to forecast program performance and budget impact.
• Track and report on key performance indicators (KPIs) related to 340B savings, utilization, and compliance.
• Conduct cost-benefit analyses of potential program changes or expansions.
• Assist with the annual 340B program budget development and monitoring.
• Collect, analyze, and interpret data from various sources, including 340B software, purchasing systems, and financial records.
• Prepare presentations and reports for senior leadership and other stakeholders.
• Recommend and implement process improvements to enhance data accuracy and reporting.
• Process and reconcile payments from 340B vendor accounts, investigating and resolving discrepancies promptly.
• Manage AP/AR invoicing from third-party vendors, ensuring timely and accurate processing.
• Oversee the setup and maintenance of wholesaler accounts, ensuring complete and accurate documentation.
• Collaborate with internal and external teams to resolve issues and maintain invoices in a current state.
• Monitor aging reports and follow up on outstanding balances to minimize past-due accounts.
• Identify and analyze chargebacks, deductions, and disputes, ensuring proper resolution.
• Assist with system modifications and mandated regulatory changes related to billing denials.
• Identify billing issues and recommend solutions to improve the revenue cycle and reduce errors.
• Perform reconciliation of electronic transactions, identifying errors and conducting root cause analysis for rejections.
• Other duties and/or projects as assigned.
• Adheres to HMH Organizational competencies and standards of behavior.

Qualifications

Education, Knowledge, Skills and Abilities Required:

• Bachelor's degree in Accounting, Finance, Supply Chain, or a related field.
• Minimum of 2 years of experience in financial analysis, preferably in a healthcare setting.
• Excellent analytical, problem-solving, and decision-making skills.
• Excellent written and verbal communication skills.
• Proficient computer skills that may include but are not limited to Microsoft Office and/or Google Suite platforms.

Education, Knowledge, Skills and Abilities Preferred:

• Certified 340B Professional (340B ACE) preferred.
• Strong understanding of revenue cycle management and pharmaceutical billing practices.
• Experience with Epic, Epremis, and 340B retail platforms.

If you feel that the above description speaks directly to your strengths and capabilities, then please apply today!      

HACKENSACK MERIDIAN HEALTH (HMH) IS AN EQUAL OPPORTUNITY EMPLOYER

All qualified applicants will receive consideration for employment without regard to age, race, color, creed, religion, sex, sexual orientation, gender identity or expression, pregnancy, breastfeeding, genetic information, refusal to submit to a genetic test or make available to an employer the results of a genetic test, atypical hereditary cellular or blood trait, national origin, nationality, ancestry, disability, marital status, liability for military service, or status as a protected veteran.

Our Network

Hackensack Meridian Health (HMH) is a Mandatory Influenza Vaccination Facility

As a courtesy to assist you in your job search, we would like to send your resume to other areas of our Hackensack Meridian Health network who may have current openings that fit your skills and experience.