Lombard, Illinois
Contract Analyst, Financial Risk Job Opening in Lombard, Illinois - Change Healthcare is seeking a Contract Analyst to join our Financial Risk Team. The ideal candidate for this job will be energetic, an effective communicator, and ambitious to drive meaningful change. Working in a collaboration with Change Healthcare strategic members, the Contract Analyst will be comfortable seeking counsel, maintaining the ability to take prompt action, while making recommendation to executive leadership to drive scalable KPIs.
Job Description:
The Contract Analyst position will be responsible for the analysis, maintenance, and coordination of contracts post contract negotiations. Such duties will be inclusive of auditing contract builds, in a designated contract management system, identifying reimbursement opportunities and assisting in the building of client contracts for future modeling. The position works with members of management, the business office, account management, and reporting liaisons to successfully report and monitor comprehensive indicators of profitability and payment accuracy. The position will require maintenance of an array of contracts for Change Healthcare clients, facilities, and vendors. Such efforts will support structural recommendations to house information in a consumable way so that multiple functions of the business can be serviced.
Detailed Duties
Aggregate and centralize internal contract information across all service lines
Act as lead in contract application database implementation
Evaluate/Recommend enhancements for formalized repository of contracts
Interpret contract language and consume how the content is used through historical process to drive new product offerings
Audit new and existing contracts in designated contract management system to ensure accuracy of rates and structure.
Apply contract terms and conditions to internal client/facility processes and health plan payment strategies to improve reimbursement.
Produce analytical reports to identify payment variances and quantify financial impact of payment problems or reimbursement discrepancies.
Develop a corrective action plan to address the root cause of the systematic profitability and/or payment variance problem identified in the above-mentioned reports.
Participate, as needed, in operational meetings or provide insight to internal management to address trends identified in reports.
Assist in building of contracts in the designated contract management system.
Build solid working relationships and a good rapport with internal customers.
Assist with special projects regarding pricing, under/over payments, system implementations and business office education.
Focuses on current, objective realities, and on using understanding of these realities to assist in making recommendation for the organization.
Exercises personal drive and initiative to measure organizational performance, focusing attention on working with the financial business realities of the organization.
Education/Skills
Undergraduate degree with strong preference for degree in Business, Health Care Administration, or Finance
Experience with and understanding a Contract Management system.
Excellent written and oral communication skills
Excellent organizational skills
Must possess strong analytical skills
Must understand managed care contracts and related pricing structure/rate sheets and multi-faceted provisions
Moderate skill set in MS Excel and MS Access
Job Type: Full-time
Required education:
Bachelor's
Required experience:
contract management systems: 3 years
contract language: 3 years
Contract Negotiation: 4 years
Healthcare: 4 years
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