Financial Analyst - Clinical Trials

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Financial Analyst - Clinical Trials

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locations

Boston

time type

Full time

posted on

Posted 2 Days Ago

job requisition id

34287

Position:

Financial Analyst, Clinical Trials Office
Location:

Boston, MA
Schedule:

40 hours per week
ABOUT BMC:
At Boston Medical Center (BMC), our diverse staff works together for one goal — to provide exceptional and equitable care to improve the health of the people of Boston. Our bold vision to transform health care is powered by our respect for our patients and our commitment to ensure everyone who comes through our doors has a positive experience.
You’ll find a supportive work environment at BMC, with rich opportunities throughout your career for training, development, and growth and where you’ll have the tools you need to take charge of your own practice environment.
POSITION SUMMARY:
The Financial Analyst (FA) facilitates the financial management associated with planning, negotiating, setting up, managing, and closing out clinical research studies. Key job functions include evaluating study protocols and developing accurate budgets. Other duties: meeting with research personnel in a collaborative effort to identify and quantify pertinent information impacting clinical trial finances, distinguish between billable (standard of care or SOC) and non-billable costs and ensure overall adherence to Federal compliance in the budgeting process.

Works with the study teams to develop coverage analyses, clinical trial budgets, and reports to track and monitor receivables. Assists in the development of integrated revenue/expense analyses, projections, reports, and presentations. Creates/analyzes clinical trial financial reports and ensures financial information has been recorded accurately.
JOB RESPONSIBILITIES:
Medicare Coverage Analysis (MCA)
Review complex study protocols, sponsor agreements, informed consent forms and related documents as needed. Determines whether a study is a “qualifying clinical trial”.
Maintains a library of information on standards of care, National Coverage Decisions (NCDs), Local Coverage Determinations (LCDs), etc.
Analyzes Medicare benefit policies, coverage determinations, and medical practice guidelines related to study specific interventions.
Works with the Principal Investigator and the clinical trial team to ensure that a Medicare Coverage Analysis is completed.
Develops coverage (billing) grids for assigned clinical trials. Develops a comprehensive cost analysis for the clinical research study when preparing the initial study budget.
Budgeting
Works with the Principal Investigator and the study team to develop an internal budget that includes all costs applicable to the trial.
Reviews patient care charges associated with each clinical trial on a periodic basis. Works with Patient Billing and post-award personnel in Research Administration to ensure that charges for all patient procedures are treated appropriately.
Negotiates with sponsors to reach agreements appropriate to the costs of the trial.
Financial Management
Ensures clinical trial accounts and SDK accounts are set up appropriately and supports the study team in the financial management of clinical trials.
Reviews expenditures against budgeted amounts/revenues and monitors participant accrual, activity and related revenue. Assists PIs and research teams with the allocation of trial personnel costs.
Tracks/monitors receivables in conjunction with the Clinical Research Accountant, including pass-through fees and milestone payments.
Projects the clinical trial forecasted budget based on accruals and works in conjunction with the Senior Financial Analyst to review any clinical trial accounts in deficit and report on the cause.
At the completion of the trial, helps review all expenditures and receipts
Reporting and Analysis
Assists in the preparation and analysis of clinical trial financial reports that are prepared for presentation to Director, Clinical Trial Office (CTO), study teams, Patient Financial Services, and others as requested
Assists Principal Investigators with budget monitoring and prepares projections.
Delivers timely accurate clinical trial financial information to Director, CTO
Beyond reporting, works with Sr. Clinical Trial Financial Analysts to provide insight and analysis as to which specific departments or specific clinical trials are not covering costs, covering costs, or profitable
Systems Support
Primary user of Lawson LBI, SDK, and the Boston Medical Center CTO Clinical Trials Management System (CTMS)
Works with Director, CTO and Sr. Clinical Trial Financial Analyst to provide education and assistance as needed to new users and study team members in the use and functionality of the CTMS
JOB REQUIREMENTS
EDUCATION:
Bachelor's Degree required, with preference for concentration in Economics, Business, Accounting or Finance.
EXPERIENCE:
2-3 years of experience in Research Administration or a financial analysis/ accounting function.
KNOWLEDGE AND SKILLS:
Excellent written/verbal communication and interpersonal skills.
Experience working within a medical organization and team environment is strongly desired.
Advanced MS Excel, Word, Access, and PowerPoint skills. Experience with Lawson LBI, SDK, and additional application systems a plus.
Highly analytical thinking with demonstrated talent for identifying, scrutinizing, improving, and streamlining complex work processes.
Financial

management/forecasting

skills. Ability to interpret financial data and operating metrics.
JOB BENEFITS:
Competitive pay
Tuition reimbursement and tuition remission programs
Highly subsidized medical, dental, and vision insurance options
Career

Advancement/Professional

Development: Access a wealth of ongoing training and development opportunities that will not only enhance your skills but also expand your knowledge base especially for individuals pursuing careers in medicine or biomedical research.
Pioneering Research: Engage in groundbreaking research projects that are driving the forefront of biomedical science.
ABOUT THE DEPARTMENT:
As the primary teaching hospital for Boston University Chobanian & Avedisian School of Medicine and BU schools of public health and dentistry, intellectual rigor shapes our inquiries. Our research is led by a belief that skin color, zip code, and financial circumstances shouldn’t dictate health.
Boston Medical Center

is an Equal

Opportunity/Affirmative

Action Employer. If you need accommodation for any part of the application process because of a medical condition or disability, please send an e-mail to

[email protected]

or call

617-638-8582

to let us know the nature of your request.
Equal Opportunity

Employer/Disabled/Veterans

Our People

Working at Boston Medical Center is more than a job. It’s a chance to make a difference as part of our mission to provide exceptional and equitable care to all. As a

nationally-recognized

leader in health equity, nursing, initiatives to combat climate change, and many other areas, BMC is dedicated to improving the health of our community in Boston and beyond.

BMC’s mission to provide exceptional care without exception extends to our employees, and we have been recognized as a top employer and best place to work. A strong sense of teamwork and support for our staff are the bedrock of BMC, as we know that we can only provide exceptional care to patients when our staff are cared for too.

EEO & Accommodation Statement

Boston Medical Center is an equal

employment/affirmative

action employer. We ensure equal employment opportunities for all, without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, gender identity and/or expression or any other non-job-related characteristic.
If you need accommodation for any part of the application process because of a medical condition or disability, please send an e-mail to

[email protected]

or call 617-638-8582 to let us know the nature of your request.

Requirements

Boston Medical Center participates in the Electronic Employment Verification Program. As an E-Verify employer, prospective employees of BMC must complete a background check before beginning their employment at the hospital. BMC requires all staff to be vaccinated against COVID-19 and flu, as well as receive a booster dose of the COVID-19 vaccine.

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