Healthcare Statistical Analyst I/II/III/IV (Finance)
Job Description:
Summary:
The Healthcare Statistical Analyst performs technical services within the actuarial department that support of the Health Plans operations which monitors and maintains financial solvency through the understanding of current data & environment and modeling of future events. This role interacts with internal and external partners and Regulatory agencies. This role monitors trends, bring forward opportunities and insights found in the data to the applicable audiences. This position supports leadership by providing statistical information and analysis needed to make informed decisions, identifies trends, and utilizes data mining techniques and development of advanced predictive models.
Essential Accountabilities:
All Levels
• Updates existing and aids in the creation of new analysis pertaining to benefit designs, claims experience, Value Based Payment (VBP) programs and valuation of internal and externally led claims savings initiatives.
• Maintains existing processes including but not limited to reserve programs, pricing files, benefit relativity tables, trend analysis, VBP and vendor financial settlements, ROI work. Creates and maintains appropriate documentation for work.
• Assists with the development of projections (financial, claims, trend, utilization, savings, etc.), unpaid claim liability estimates and identification of areas for savings.
• Compiles and analyzes data to draw conclusions and provide recommendations.
• Proposes and assists in the development of process improvements utilizing system and software applications to full potential and participates in activities and projects as directed.
• Consistently demonstrates high standards of integrity by supporting the Lifetime Healthcare Companies' mission and values, adhering to the Corporate Code of Conduct, and leading to the Lifetime Way values and beliefs.
• Maintains high regard for member privacy in accordance with the corporate privacy policies and procedures.
• Regular and reliable attendance is expected and required.
• Performs other functions as assigned by management.
Level II (in addition to Level I Accountabilities)
• Conducts analyses for and communicates with other departments on various initiatives.
• Assists the development of analyses concerning complex issues & trends, coordinates with staff.
• Participates in reviewing and evaluating emerging trends in healthcare, establishing reserves and producing financial analysis.
• Recommends appropriate applications and process changes to existing and new analysis.
• Reconciles Data Warehouse data with corporate financials and identifies and develops corrective action with regards to Data Warehouse integrity issues.
• Initiates and leads efforts to continually improve data capabilities and quality of department analysis and reporting.
• Independently ideates process improvements and recommends changes in process to direct leadership.
• Creates and maintains documentation related to data analysis, data models, and data mapping which includes creating technical documentation, process documentation and training materials.
• Draws together facts and input from a variety of data sources.
Level III (in addition to Level II Accountabilities)
• Reviews and ensures pricings are consistent with established profitability targets for relevant business segments.
• Researches and analyzes data across complex data ecosystem including operational and analytical data platforms to develop insightful and effective reporting and dashboards.
• Demonstrates keen judgment on involved and complex assignments; devises methods and procedures to meet unusual conditions and makes original contributions to the solution of very difficult problems. Problem solving is complex and involves critical issues.
• Develops analyses concerning complex issues and trends, coordinating with several different disciplines and staff.
• Leads and supports departmental projects.
• Provides effective technical advice and support to assist management in meeting corporate goals and identifying strategy. Involves other departmental areas as needed.
Level IV (in addition to Level III Accountabilities)
• Recommends departmental annual performance goals.
• Offers strategic recommendations on the analysis of data, data collection, and integration using the knowledge of best practices and business requirements.
• Conduct exploratory, descriptive, and inferential data analysis using statistical and machine learning techniques.
• Represents the Department on special projects involving other areas of the company or external constituents.
• Partners and leads projects including stakeholders from a variety of departments.
• Interprets how regulatory changes affect Health Plan and develops impact analyses.
• Collaborates with senior leadership in meeting corporate goals and strategic decision making.
Minimum Qualifications:
NOTE: We include multiple levels of classification differentiated by demonstrated knowledge, skills, and the ability to manage increasingly independent and/or complex assignments, broader responsibility, additional decision making, and in some cases, becoming a resource to others. In addition to using this differentiated approach to place new hires, it also provides guideposts for employee development and promotional opportunities.
All Levels
• Bachelor's Degree in Math, Statistics, Economics, Medical Informatics, Actuarial Science or relevant field required.
• One (1) year of related experience preferred.
• Strong analytical skills, verbal and written communication skills.
• Strong interpersonal skills with demonstrated ability and willingness to collaborate with other team members.
• Ability to prioritize, multitask, and maintain multiple simultaneous projects.
• Intermediate technical skills including proficiency in Microsoft Office Suite
• Programming skills in SQL, SAS, VBA, or similar programming language is preferred.
Level II (in addition to Level I Qualifications)
• Two (2) years related experience.
• A strong understanding of health insurance & health insurance products, managed care, accounting principles, the competitive market, the legislative environment, and any regulatory issue affecting the Health Plan.
• Ability to work independently, with high level of self-motivation to improve processes.
• Proficient programming skills in SQL, SAS, VBA, or similar programming language preferred.
• High level understanding of non-Actuarial functions such as Rating & Underwriting, Finance, Provider Contracting, Analytics & Data Technology, Population Health Engagement, Marketing & Sales, etc., and how they impact Health Plan operations and financials.
Level III (in addition to Level II Qualifications)
• Four (4) years of related experience.
• Ability to perform complex modeling independently.
• Strong ability to recognize and automate repetitive tasks.
• Ability to communicate analytical findings at the appropriate level of detail for receiving audience.
• Demonstrated experience leading projects or process improvement initiatives.
• Ability to write and communicate complex concepts.
Level IV (in addition to Level III Qualifications)
• Six (6) years related experience.
• Advanced understanding of non-Actuarial functions such as Rating, Underwriting, Accounting, Provider Contracting, Network Management, Product Development, Medical Management, etc., and how they impact Health Plan operations and financials.
• Advanced ability to independently communicate analytical findings at the appropriate level of detail for receiving audience.
• Strong ability to independently write, communicate and present complex concepts to both actuarial and non-actuarial audiences.
Physical Requirements:
• Ability to work while sitting and/or standing at a workstation viewing a computer and using a keyboard, mouse and/or phone for three (3) or more hours at a time.
• Ability to travel across the Health Plan service region for meetings and/or trainings as needed.
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One Mission. One Vision. One I.D.E.A. One you.
Together we can create a better I.D.E.A. for our communities.
At the Lifetime Healthcare Companies, we're on a mission to make our communities healthier, and we can't do it without you. We know diversity helps fuel our mission and that's why we approach our work from an I.D.E.A. mindset (Inclusion, Diversity, Equity, and Access). By activating our employees' experiences, skills, and perspectives, we take action toward greater health equity.
We aspire to reflect the communities we live in and serve, and strongly encourage people of color, LGBTQ+ people, people with disabilities, veterans, and other underrepresented groups to apply.
OUR COMPANY CULTURE:
Employees are united by our Lifetime Way Values & Behaviors that include compassion, pride, excellence, innovation and having fun! We aim to be an employer of choice by valuing workforce diversity, innovative thinking, employee development, and by offering competitive compensation and benefits.
In support of the Americans with Disabilities Act, this job description lists only those responsibilities and qualifications deemed essential to the position.
Equal Opportunity Employer
Compensation Range(s):
Level I: Grade E1: Minimum $60,410 - Maximum $84,000
Level II: Grade E3: Minimum $60,410 - Maximum $106,929
Level III: Grade E5: Minimum $71,880 - Maximum $129,384
Level IV: Grade E6: Minimum $79,068 - Maximum $142,322
The salary range indicated in this posting represents the minimum and maximum of the salary range for this position. Actual salary will vary depending on factors including, but not limited to, budget available, prior experience, knowledge, skill and education as they relate to the position's minimum qualifications, in addition to internal equity. The posted salary range reflects just one component of our total rewards package. Other components of the total rewards package may include participation in group health and/or dental insurance, retirement plan, wellness program, paid time away from work, and paid holidays.
Please note: There may be opportunity for remote work within all jobs posted by the Excellus Talent Acquisition team. This decision is made on a case-by-case basis.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
