Financial Analyst I

Department:

85203 Wake Forest University Health Sciences - Academic Office of Clinical Research

Status:

Full time

Benefits Eligible:

Yes

Hours Per Week:

40

Schedule Details/Additional Information:

M-F, 8a-5p

Pay Range

$28.05 - $42.10

Essential Functions:

Medicare Coverage Analysis (MCA) Reviews complex study protocols, sponsor agreements, informed consent forms and related documents as needed to determine whether a study is a qualifying clinical trial.

Develop coverage (billing) grids in OnCore. Analyzes Medicare benefit policies, coverage determinations, and medical practice guidelines related to study specific interventions (e.g., physical exams, labs, radiological scans, etc.).

Collaborates with the Principal Investigator and the clinical research team to finalize the MCA and designate funding sources for research costs.

As needed, develops a comprehensive cost analysis for the clinical research study when preparing the initial study budget. Maintains a library of information on standards of care, National Coverage Decisions (NCDs), Local Coverage Determinations (LCDs), etc.

Stays abreast of Medicare, sponsor and other federal policy and regulatory issues.

Budget Development and Negotiation Works with the Principal Investigator and the clinical research team to develop an internal budget that includes all costs applicable to the study.

Develops detailed final budgets by identifying all activities, tests and procedures to be performed during the conduct of the study based on the protocol, study calendar and other study documents.

Creates visit schedule and budget in OnCore. Negotiates with sponsors to reach agreements appropriate to the costs of the trial (as needed).

In collaboration with Research Billing Team, reviews patient care charges associated with each clinical research study on a periodic basis.

Works with Special Billing and Department post-award personnel in to ensure that charges for all patient procedures are treated appropriately.

Financial Management Supports the study team in the financial management of clinical trials originating from federal, foundation, and industry funds by performing all accounts receivable functions.

Generates and sends invoices to study sponsors.

Tracks and monitors receivables from sponsors, including pass-through fees and milestone payments.

Generates reports to project study financials.

Reconciles payments received to OnCore and CORE Connect (Oracle Cloud institutional financial system). Notifies Financial Services of appropriate study account to receive payment.

Resolves any financial issues with sponsor as needed.

Ascertain amount paid and remaining amount due on assigned study sponsor accounts; establish payment plan with Department Contact guarantors regarding past due accounts; re-evaluate existing payment plans as needed when account is delinquent.

Follow up with Departments to ensure proper amounts are collected; independently recommend action to be taken regarding the account.

Initiate calls to Departments to ascertain whether the proper amount has been paid on the research account. Mail financial statements to Departments.

Review balances on account and communicate with Departments via phone and email to explain professional and hospital billing and collection policy and procedure.

At the completion of the study, supports Department post-award personnel and Sponsored Programs in the review of revenue received prior to close-out of the study account.

Supports the closeout of study activities in OnCore, ClinCard and EPIC. Reporting and Analysis Assists Principal Investigators with budget monitoring and prepares projections.

Production of ad hoc analyses as needed. Systems Support Primary user of OnCore, ClinCard and EPIC.

General Support Prioritizes job tasks; demonstrates willingness to assist Manager/Director in the completion of special projects and daily task to support the Department s productivity and efficiency.

Demonstrates responsibility for personal development by participating in continuing education offerings. Performs other related duties incidental to work described herein.

EDUCATION/EXPERIENCE: Bachelor's degree in Business, Accounting, Finance or a related field with 0-1 years of relevant experience in clinical research or research administration. Minimum of 1-year Business Office experience in a healthcare environment or Research Office experience preferred.

Our Commitment To You:

Advocate Health offers a comprehensive suite of Total Rewards: benefits and well-being programs, competitive compensation, generous retirement offerings, programs that invest in your career development and so much more – so you can live fully at and away from work, including:

Compensation

• Base compensation listed within the listed pay range based on factors such as qualifications, skills, relevant experience, and/or training
• Premium pay such as shift, on call, and more based on a teammate's job
• Incentive pay for select positions
• Opportunity for annual increases based on performance

Benefits And More

• Paid Time Off programs
• Health and welfare benefits such as medical, dental, vision, life, and Short- and Long-Term Disability
• Flexible Spending Accounts for eligible health care and dependent care expenses
• Family benefits such as adoption assistance and paid parental leave
• Defined contribution retirement plans with employer match and other financial wellness programs
• Educational Assistance Program

About Advocate Health

Advocate Health is the third-largest nonprofit, integrated health system in the United States, created from the combination of Advocate Aurora Health and Atrium Health. Providing care under the names Advocate Health Care in Illinois; Atrium Health in the Carolinas, Georgia and Alabama; and Aurora Health Care in Wisconsin, Advocate Health is a national leader in clinical innovation, health outcomes, consumer experience and value-based care. Headquartered in Charlotte, North Carolina, Advocate Health services nearly 6 million patients and is engaged in hundreds of clinical trials and research studies, with Wake Forest University School of Medicine serving as the academic core of the enterprise. It is nationally recognized for its expertise in cardiology, neurosciences, oncology, pediatrics and rehabilitation, as well as organ transplants, burn treatments and specialized musculoskeletal programs. Advocate Health employs 155,000 teammates across 69 hospitals and over 1,000 care locations, and offers one of the nation’s largest graduate medical education programs with over 2,000 residents and fellows across more than 200 programs. Committed to providing equitable care for all, Advocate Health provides more than $6 billion in annual community benefits.