Financial Analyst - Provider Reimbursement

Company Description

Why Wellmark: We are a mutual insurance company owned by our policy holders across Iowa and South Dakota, and we've built our reputation on over 80 years' worth of trust. We are not motivated by profits. We are motivated by the well-being of our friends, family, and neighbors-our members. If you're passionate about joining an organization working hard to put its members first, to provide best-in-class service, and one that is committed to sustainability and innovation, consider applying today!

Learn more about our unique benefit offerings here.

Want to know more? You can learn about life at Wellmark here.

Job Description

Internal job title: Network Economics Analyst

About the role: As a Financial Analyst for Provider Reimbursement, you will create, implement and maintain provider compensation strategies, including financial reporting and analysis for all providers with whom Wellmark may contract with. This includes supporting provider compensation initiatives by applying your thorough understanding of contracting, claims payment procedures and payment policy. Collaboration is key, so building and maintaining strong business relationships with other Health Network team members at Wellmark will be important to enhance the support we deliver to our providers.

About you: You are a critical thinker, detail-oriented and analytical to your core. You are skilled at thinking conceptually, anticipating long-term outcomes, and identifying and implementing continuous improvement opportunities around provider reimbursement. You enjoy supporting stakeholders with ad hoc requests and tackling data-related projects because it allows you to use your expertise while tapping into your creative side.

Hospital and/or health care facility reimbursement experience a plus!

This position will work a hybrid schedule of at least 3 days in Wellmark's Des Moines office (Tuesday-Thursday), with Monday & Friday remote option.

Qualifications

Required:

• Bachelor's degree or direct and applicable work experience.

• 4+ years of financial analytical experience; OR

• 3+ years of financial analytical experience with 1+ year of health care, health insurance, or related industry experience, e.g., provider payment/ reimbursement, provider compensation, finance, etc.

• Demonstrates ability to anticipate and analyze long-term reimbursement model outcomes

• Excellent critical thinking and creative problem solving skills. Uses data to inform decisions.

• Strong conceptual, strategic thinking skills.

• Identifies and implements continuous improvement opportunities.

• Strong verbal/written communications skills. Articulates complex technical information effectively.

• Effectively builds relationships, influences, and solicits cooperation from others.

• Proactive self-starter with strong organizational, prioritization and time management skills, as well as excellent attention to detail.

• Proficient with Microsoft Office, including Excel. Able to run queries and develop ad hoc reports.

Preferred:

• Bachelor's degree.

• Knowledge of Wellmark and/or national recognized provider compensation strategies.

• Understanding of Wellmark products, policies and processes to ensure consistency in the compensation strategies designed and implemented.

• Claims processing knowledge.

• Business Objects experience.

Additional Information

Job Responsibilities:

a. Support provider reimbursement initiatives by reviewing and calculating fee schedules paid to health care providers. Research, document, monitor and implement provider reimbursement related activity and initiatives, including financial reporting and comprehensive data analysis.

b. Perform routine financial analysis for Wellmark leadership to monitor reimbursement methodologies for effectiveness. Apply qualitative and quantitative techniques to interpret provider data and provide pricing recommendations as appropriate. Perform data modeling to assist provider's understanding of methodology changes/updates.

c. Develop and maintain positive professional relationships with Network Engagement and Health Network to provide proactive communication of changes. Provide timely response to provider inquiries via Network Engagement and support data needs and inquiries. May communicate and attend provider meetings, if applicable.

d. Serve as consultant in collaboration with Network Engagement to provide compensation guidance/expertise and payment policies to providers and applicable stakeholders.

e. Configure, transfer and monitor data that is being processed in the provider payment systems. Collaborate with testing and system implementations and enhancements. Provide business knowledge and payment processing expertise in projects, if applicable.

f. Other duties as assigned.

An Equal Opportunity Employer

The policy of Wellmark Blue Cross Blue Shield is to recruit, hire, train and promote individuals in all job classifications without regard to race, color, religion, sex, national origin, age, veteran status, disability, sexual orientation, gender identity or any other characteristic protected by law.

Applicants requiring a reasonable accommodation due to a disability at any stage of the employment application process should contact us at careers@wellmark.com