Pricing Strategy Analyst
Job DescriptionJOB SUMMARYThe Pricing Analyst role exists to oversee the ongoing review of new prices, price adjustment requests, and maintenance of all existing charge-related prices for the System.
The role is critical for analyzing all Special Pricing requests and for ensuring that all prices that deviate from BSWH standard charging methodologies are set-up in a manner that is compliant with BSWH guidelines and policies, including any applicable regulatory or legal requirements and considerations.
ESSENTIAL FUNCTIONS OF THE ROLE Perform pricing analytics based on multiple data sources and provide oversight of the financial modeling associated with the System annual price changes; responsible for performing analytics, establishing methodologies, implementation, validation and maintenance.
Assist in the development of policies, guidelines, and consent forms associated with Special Pricing, while ensuring compliance with federal, state, and payer regulations.
Includes education and training of facility personnel as needed.
Facilitate all analyses required to establish and perform maintenance of Special Pricing, ensuring compliance with the developed BSWH policies and procedures.
Communicate the associated financial impacts to service line and financial leadership.
Ensure necessary leadership approvals are obtained prior to implementation.
Evaluate pricing opportunities for new care-delivery models, including but not limited to:
digital health projects, new technologies, and new service lines.
Under the direction of the Manager, Pricing Strategy and Analytics and the System Director, Revenue Integrity, identify and implement future System strategies related to pricing activities, including but not limited to:
pricing elasticity, pricing sensitivity, consumer value analysis, case-based pricing, and retail pricing.
Facilitate periodic review of Cosmetic Pricing to ensure pricing is appropriate based on cost and market competitiveness.
Communicate necessary price changes to System Presidents and Providers as appropriate.
Serve as the subject matter expert for all pricing analytics and pricing requests for the BSWH System.
Develop knowledgebase of market pressures, regulatory changes, and payer contract adjustments that affect hospital and professional pricing.
Facilitate an Annual Third Party Pricing Defensibility Study and coordinate all communication efforts with Executive Financial Leadership related to the Study.
Assist Director and Manager in providing consult to BSWH Joint Ventures regarding BSWH pricing strategies and pricing defensibility.
Identify opportunities for improved pricing defensibility and transparency across the System.
KEY SUCCESS FACTORS Advanced Financial Modeling - advanced in excel and/or access database, knowledge of regression analysis, SPSS, and other financial analytics systems.
Maintains current knowledge of Revenue and CPT/HCPCS methodologies.
Has a comprehensive knowledge of health care finance and reimbursement.
Excellent written and verbal communication skills - the ability to effectively communicate complex financial data to senior Finance and service line leadership.
Project Management Experience.
Attention to detail and very organized.
Ability to adapt to an ever-changing environment.
Problem-solver with limited supervision.
Passion for healthcare and a positive attitude.
Entrepreneurial spirit.
BENEFITSOur competitive benefits package includes the following Immediate eligibility for health and welfare benefits 401(k) savings plan with dollar-for-dollar match up to 5% Tuition Reimbursement PTO accrual beginning Day 1 Note:
Benefits may vary based upon position type and/or levelQUALIFICATIONSnnntEDUCATION - Bachelor'sntEXPERIENCE - 3 Years of Experiencen Recommended Skills Adaptability Attention To Detail Communication Data Analysis Databases Elasticity Estimated Salary: $20 to $28 per hour based on qualifications.
The role is critical for analyzing all Special Pricing requests and for ensuring that all prices that deviate from BSWH standard charging methodologies are set-up in a manner that is compliant with BSWH guidelines and policies, including any applicable regulatory or legal requirements and considerations.
ESSENTIAL FUNCTIONS OF THE ROLE Perform pricing analytics based on multiple data sources and provide oversight of the financial modeling associated with the System annual price changes; responsible for performing analytics, establishing methodologies, implementation, validation and maintenance.
Assist in the development of policies, guidelines, and consent forms associated with Special Pricing, while ensuring compliance with federal, state, and payer regulations.
Includes education and training of facility personnel as needed.
Facilitate all analyses required to establish and perform maintenance of Special Pricing, ensuring compliance with the developed BSWH policies and procedures.
Communicate the associated financial impacts to service line and financial leadership.
Ensure necessary leadership approvals are obtained prior to implementation.
Evaluate pricing opportunities for new care-delivery models, including but not limited to:
digital health projects, new technologies, and new service lines.
Under the direction of the Manager, Pricing Strategy and Analytics and the System Director, Revenue Integrity, identify and implement future System strategies related to pricing activities, including but not limited to:
pricing elasticity, pricing sensitivity, consumer value analysis, case-based pricing, and retail pricing.
Facilitate periodic review of Cosmetic Pricing to ensure pricing is appropriate based on cost and market competitiveness.
Communicate necessary price changes to System Presidents and Providers as appropriate.
Serve as the subject matter expert for all pricing analytics and pricing requests for the BSWH System.
Develop knowledgebase of market pressures, regulatory changes, and payer contract adjustments that affect hospital and professional pricing.
Facilitate an Annual Third Party Pricing Defensibility Study and coordinate all communication efforts with Executive Financial Leadership related to the Study.
Assist Director and Manager in providing consult to BSWH Joint Ventures regarding BSWH pricing strategies and pricing defensibility.
Identify opportunities for improved pricing defensibility and transparency across the System.
KEY SUCCESS FACTORS Advanced Financial Modeling - advanced in excel and/or access database, knowledge of regression analysis, SPSS, and other financial analytics systems.
Maintains current knowledge of Revenue and CPT/HCPCS methodologies.
Has a comprehensive knowledge of health care finance and reimbursement.
Excellent written and verbal communication skills - the ability to effectively communicate complex financial data to senior Finance and service line leadership.
Project Management Experience.
Attention to detail and very organized.
Ability to adapt to an ever-changing environment.
Problem-solver with limited supervision.
Passion for healthcare and a positive attitude.
Entrepreneurial spirit.
BENEFITSOur competitive benefits package includes the following Immediate eligibility for health and welfare benefits 401(k) savings plan with dollar-for-dollar match up to 5% Tuition Reimbursement PTO accrual beginning Day 1 Note:
Benefits may vary based upon position type and/or levelQUALIFICATIONSnnntEDUCATION - Bachelor'sntEXPERIENCE - 3 Years of Experiencen Recommended Skills Adaptability Attention To Detail Communication Data Analysis Databases Elasticity Estimated Salary: $20 to $28 per hour based on qualifications.
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