Financial Consultant – Indianapolis Health

Overview

Milliman is seeking a Financial Consultant to join our growing health practice. This consultant is responsible for leading cost/expense reporting and projects for healthcare and human service entities, including state Medicaid agencies, managed care organizations, healthcare providers, and child welfare organizations. This consultant will focus on cost reporting and rate setting, managing client-facing deliverables, performing program research and design, and implementing data collection solutions with appropriate documentation. The ideal candidate has experience categorizing utilization, service expense, revenue, and administrative expenses across a variety of types of services, lines of business, and rate cohorts. Our team works within a matrix environment, collaborating with seasoned consultants on a variety of financial reporting projects. This position provides excellent opportunities for professional development and advancement.

Valuable skillsets, or transferrable skills, that the hiring team is looking for may include:

• Experience with Medicaid managed care, statutory accounting, and insurer administrative cost structure
• Experience in a client facing, analytical consulting role
• In-house internal auditing at a health plan, healthcare provider, or State agency
• External auditing at professional services firm
• Professional experience working for, or with, any the following:
  • Providers, health insurers, state Medicaid agencies, or child welfare organizations
  • Accounting/financial statements and managerial/cost accounting for healthcare entities
  • Financial reporting and analytics for a managed care organization
  • Medicaid funding flows, quarterly Medicaid statement of expenditures (CMS-64) forms from a state agency prospective
  • Nursing home, CCBHC, or other type of healthcare provider cost report compilation and/or review for provider rate setting purposes
  • Medicare cost reporting

Responsibilities

In this role, you will:

• Design data collection tools and documentation for third-party entities serving health and human service agencies to use to submit cost and financial information
• Utilize subject matter expertise to evaluate cost and other financial reports for compliance to provided instructions and applicable regulatory guidance
• Review and provide feedback on reconciliations of cost reports relative to a general ledger, encounter data, and/or audited financial statements
• Use tools to develop processes and implement procedures for gathering, categorizing, and allocating claim and financial data
• Tools may include data warehouse tables, encounter data, client financial templates, and ad-hoc reports
• Research available regulations and guidance to determine and communicate potential impacts to stakeholders both internally and externally
• Prepare reports and emails to communicate methodology and results to both internal stakeholders and client contacts
• Mentor less experienced colleagues by providing technical support and encouragement
• Identify areas for improvement and implement processes to improve workflow
• Perform ad-hoc reconciliations and work on special projects
• Ensure quality assurance and peer review are completed on all client deliverables

Qualifications

• Familiarity with insurance concepts, such as, reserving and premium rate setting
• Proven ability to conduct financial analysis using Excel and proprietary reporting tools
• Knowledge of health economics concepts, such as, medical loss ratio, underwriting margin, cost and utilization metrics
• Basic knowledge of SQL, Python, or other coding skills
• Effective time management skills with the ability to prioritize, multi-task, and perform effectively in a fast paced, deadline driven environment
• Critical thinking skills, problem-solving capabilities, and demonstrated learning agility
• Strong project management and organizational skills, including, attention to detail
• Comfortable working within a team environment and independently managing own work
• Ability to effectively communicate technical information and concepts, both verbally and in writing, to internal and external audiences
• Strong written and verbal communication skills
• Competent critical thinker and problem-solver with demonstrated learning agility
• Demonstrated experience leading teams or projects with the desire to take on a leadership role in the future
• Inspired to perform well by the ability to contribute to the success of a project or the organization

Required

• Bachelor’s degree with a major in accounting, finance, business management, or another relevant field of study
• Five or more years of professional experience in financial analytics, cost accounting/reporting, or related experience at a healthcare or human service entity
• Advanced proficiency using Microsoft Excel for financial analysis

Preferred

• Master’s degree in Business Administration, Accountancy, Public Health, Health Administration or related
• Active Certified Public Accountant (CPA) or Certified Management Accountant (CMA) license

The Team

The Indianapolis Health Practice is strategically structured to serve state Medicaid agencies and other health and human services agencies. The Financial Reporting team works in close collaboration with professionals from our core state Medicaid teams to best serve each of our clients’ unique needs. Our dynamic team of finance consultants, accounting professionals, and analysts serve our clients by providing regulatory and contractual financial reporting support, in addition to, reviewing the quality and accuracy of the Medicaid managed care data and financial information. As a member of this team, you will observe how we provide comprehensive consulting services which span from many different disciplines and backgrounds including actuarial, policy, finance, pharmacy, and data management, all working together for a common goal to best serve our clients’ needs.

Location

This role is based out of the Milliman office in Indianapolis, IN but candidates hired into this role may work remotely anywhere in the US. Candidates hired into this role may work onsite in select Milliman office locations, if they prefer.

Compensation

The salary range for this role is $107,000 to $217,000, depending on a combination of factors, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, location, etc.

Benefits

At Milliman, we focus on creating an environment that recognizes – and meets – the personal and professional needs of the individual and their family. We offer competitive benefits which include the following based on plan eligibility:

• Medical, dental and vision coverage for employees and their dependents, including domestic partners
• A 401(k) plan with matching program, and profit sharing contribution
• Employee Assistance Program (EAP)
• A discretionary bonus program
• Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason; full-time employees will accrue 15 days of PTO per year, and employees working less than a full-time schedule will accrue PTO at a prorated amount based on hours worked
• Family building benefits, including adoption and fertility assistance and paid parental leave up to 12 weeks for employees who have worked for Milliman for at least 12 months and have worked at least 1,250 hours in the preceding 12-month period
• A minimum of 8 paid holidays
• Milliman covers 100% of the premiums for life insurance, AD&D, and both short-term and long-term disability coverage
• Flexible spending accounts allow employees to set aside pre-tax dollars to pay for dependent care, transportation, and applicable medical needs

Who We Are

Independent for 75 years, Milliman delivers market-leading services and solutions to clients worldwide. Today, we are helping companies take on some of the world’s most critical and complex issues, including retirement funding and healthcare financing, risk management and regulatory compliance, data analytics and business transformation.

Milliman invests in skills training and career development, and gives all employees access to a variety of learning and mentoring opportunities. Our growing number of Milliman Employee Resource Groups (ERG’s) are employee-led communities that influence policy decisions, develop future leaders, and amplify the voices of their constituents. We encourage our employees to give back to their varied professions, including leadership in professional organizations. Please visit our web site (https://www.milliman.com/en/social-impact) to learn more about Milliman’s commitments to our people, diversity and inclusion, social impact and sustainability.

Through a team of professionals ranging from actuaries to clinicians, technology specialists to plan administrators, we offer unparalleled expertise in employee benefits, investment consulting, healthcare, life insurance and financial services, and property and casualty insurance.

The expected application deadline for this job is July 31, 2024.

Equal Opportunity

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.