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Financial Specialist Intermediate / Senior
Job Opening ID: 181252
Work Location: Michigan Medicine - Health Sys
Full Time/Part Time: Full-Time
FLSA Status: Exempt
Organizational Group: Um Hospital
Department: UMH Pharmacy Administration
Posting Begin/End Date: 11/22/2019 12/07/2019
Paid Time Off:
Career Interest: Finance
Healthcare Admin & Support
The Pharmacy Services Department is seeking an experienced financial professional to support the Pharmacy Services contracting and financial reporting process. For more information about the UMHS Department of Pharmacy Services, see our annual report at:
Michigan Medicine improves the health of patients, populations and communities through excellence in education, patient care, community service, research and technology development, and through leadership activities in Michigan, nationally and internationally. Our mission is guided by our Strategic Principles and has three critical components; patient care, education and research that together enhance our contribution to society.
- Develop and maintain a method of identifying trends in purchasing, medication cost, regulation, and other indicators that serve to predict changes with potential for significant impact to health system finances.
- Contribute to the evaluation of contracts and contract pricing, identifying potential for cost containment and cost savings, and developing financial metrics for data reporting.
- Measure shrinkage (waste, expiration, diversion) in all pharmacy areas, linking receiving data to invoice approval for annual wholesaler purchases, SOA review.
- Evaluate margin opportunities by drug/NDC to enhance Michigan Medicine margin including WAC/GPO/340b purchase optimization
- Develop inventory optimization procedures, recommend PARS, and monitor inventory levels in central and retail pharmacies
- Prepare & analyze monthly journal entries and financial reports to Pharmacy Team and assist in monthly variance reporting and budget build.
- Maintain & create department policies & procedures
- Train, mentor and develop staff
Additional Skills & Abilities:
- Ability to communicate clearly, both verbal and written, to internal and external constituents
- Solid knowledge, understanding, and experience in business, pharmacy, finance or accounting.
- Must be self-motivated with an ability to work well with teams.
- Must have effective organizational skills and flexibility to meet deadlines.
- Strong problem solving abilities, attention to detail, and ability to multitask.
- Experience with analyzing and reporting data in order to identify issues, trends, or exceptions to drive improvement of results and find solutions.
- Strong analytical techniques and computer skills, including proficiency with MS Office.
- Consistently striving to improve processes and meet internal/external deadlines
- Ability to independently make decisions for Pharmacy Administration Team
- Bachelor's degree in a related field.
- 5-8 years of experience in finance, accounting, pharmacy, billing, audit and/or compliance, preferably in a University or Health Care environment.
Financial Specialist Intermediate title will be used for those with 3-5 years experience.
- Business, Accounting or Finance degree is preferred.
- Experience with spreadsheet applications and analyzing and reporting data in order to identify issues, trends, or exceptions to drive improvement of results and find solutions.
- Experience working within Pharmacy is desirable, but not required.
- Experience with Mpathways, Hyperion and Business Objects financial software systems
Michigan Medicine conducts background screening and pre-employment drug testing on job candidates upon acceptance of a contingent job offer and may use a third party administrator to conduct background screenings. Background screenings are performed in compliance with the Fair Credit Report Act. Pre-employment drug testing applies to all selected candidates, including new or additional faculty and staff appointments, as well as transfers from other U-M campuses.
Job openings are posted for a minimum of seven calendar days. This job may be removed from posting boards and filled anytime after the minimum posting period has ended.
U-M EEO/AA Statement
The University of Michigan is an equal opportunity/affirmative action employer.
To apply, visit https://careers.umich.edu/job_detail/181252/financial_specialist_intermediatesenior
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