Clinical Research - Financial Analyst I

Department:85296 Wake Forest University Health Sciences - Clinical Trial Methods Center of ExcellenceStatus: Full timeBenefits Eligible:YesHours Per Week:40Schedule Details/Additional Information:8AM - 5 PM EST Standard Day ShiftPay Range$28.55 - $42.85ESSENTIAL FUNCTIONS:Medicare Coverage Analysis (MCA) Reviews complex study protocols, sponsor agreements, informed consent forms and related documents as needed to determine whether a study is a qualifying clinical trial.Develop coverage (billing) grids in OnCore. Analyzes Medicare benefit policies, coverage determinations, and medical practice guidelines related to study specific interventions (e.g., physical exams, labs, radiological scans, etc.).Collaborates with the Principal Investigator and the clinical research team to finalize the MCA and designate funding sources for research costs.As needed, develops a comprehensive cost analysis for the clinical research study when preparing the initial study budget. Provides CRMS/WISER training to study staff and entry level colleagues.Maintains a library of information on standards of care, National Coverage Decisions (NCDs), Local Coverage Determinations (LCDs), etc.Stays abreast of Medicare, sponsor and other federal policy and regulatory issues. Budget Development and Negotiation Works with the Principal Investigator and the clinical research team to develop an internal budget that includes all costs applicable to the study.Develops detailed final budgets by identifying all activities, tests and procedures to be performed during the conduct of the study based on the protocol, study calendar and other study documents. Creates visit schedule and budget in OnCore.Negotiates with sponsors to reach agreements appropriate to the costs of the trial (as needed).In collaboration with Research Billing Team, reviews patient care charges associated with each clinical research study on a periodic basis.Works with Special Billing and Department post-award personnel in to ensure that charges for all patient procedures are treated appropriately.Financial Management Supports the study team in the financial management of clinical trials originating from federal, foundation, and industry funds by performing all accounts receivable functions. Generates and sends invoices to study sponsors.Tracks and monitors receivables from sponsors, including pass-through fees and milestone payments. Generates reports to project study financials. Reconciles payments received to OnCore and CORE Connect (Oracle Cloud institutional financial system).Notifies Financial Services of appropriate study account to receive payment. Resolves any financial issues with sponsor as needed.Ascertain amount paid and remaining amount due on assigned study sponsor accounts; establish payment plan with DepartmentContact guarantors regarding past due accounts; re-evaluate existing payment plans as needed when account is delinquent.Follow up with Departments to ensure proper amounts are collected; independently recommend action to be taken regarding the account.Initiate calls to Departments to ascertain whether the proper amount has been paid on the research account.Mail financial statements to Departments.Review balances on account and communicate with Departments via phone and email to explain professional and hospital billing and collection policy and procedure.At the completion of the study, supports Department post-award personnel and Sponsored Programs in the review of revenue received prior to close out of the study account. Supports the closeout of study activities in OnCore, ClinCard and EPIC.Reporting and Analysis Prepares analyses and reports of clinical trial financials for presentation to Clinical Research Administration Managers, Directors, study teams, Financial Services, and others as requested.Assists Principal Investigators with budget monitoring and prepares projections. Production of ad hoc analyses as needed. Systems Support Primary user of OnCore, ClinCard and EPIC.Provides education and assistance as needed to new users and study team members in the use and functionality of OnCore and ClinCard.General Support Prioritizes job tasks; demonstrates willingness to assist Manager/Director in the completion of special projects and daily task to support the Department s productivity and efficiency.Demonstrates responsibility for personal development by participating in continuing education offerings. Performs other related duties incidental to work described herein.EDUCATION/EXPERIENCE:Bachelor's degree in Business, Accounting, Finance or a related field with 3 years of relevant experience in clinical research as a financial analyst or similar position.Knowledge of OnCore, ClinCard, and/or EPIC research administration is required.Minimum of 3-years of Business Office experience in a healthcare environment or Research Office experience preferred.SKILLS/QUALIFICATIONS:Excellent oral and written communication skills. Excellent phone etiquette and internal/external customer service skills, required.Strong interpersonal skills and attention to detail.Experience with computerized databases (e.g., Microsoft Excel), word processing (e.g., Microsoft Word), and presentation software (e.g., Microsoft PowerPoint).Demonstrates ability to work independently and manages competing priorities.Our Commitment to You:Advocate Health offers a comprehensive suite of Total Rewards: benefits and well-being programs, competitive compensation, generous retirement offerings, programs that invest in your career development and so much more – so you can live fully at and away from work, including:CompensationBase compensation listed within the listed pay range based on factors such as qualifications, skills, relevant experience, and/or trainingPremium pay such as shift, on call, and more based on a teammate's jobIncentive pay for select positionsOpportunity for annual increases based on performanceBenefits and morePaid Time Off programsHealth and welfare benef