Organization Overview, Mission, Vision, and Values
Our mission is to improve the health of people in the communities we serve through compassionate, high-quality care, prevention, and wellness education. Washington Regional Medical System is a community-owned, locally governed, non-profit health care system located in Northwest Arkansas in the heart of Fayetteville, which is consistently ranked among the Best Places to live in the country. Our 425-bed medical center has been named the #1 hospital in Arkansas for four consecutive years by U.S. News & World Report. We employ 3,400+ team members and serve the region with over 45 clinic locations, the area’s only Level II trauma center, and five Centers of Excellence - the Washington Regional J.B. Hunt Transport Services Neuroscience Institute; Washington Regional Walker Heart Institute; Washington Regional Women and Infants Center; Washington Regional Total Joint Center; and Washington Regional Pat Walker Center for Seniors.
Position Summary
The role of the Decision Support Cost Analyst reports to the Decision Support Cost Analysis Manager, in partnership with the Chief Accounting Officer. This position is responsible for analyzing and interpreting financial data to provide insights and recommendations to support the viability of service lines the system offers. This position will be primarily focused on identifying cost-saving opportunities and supporting informed decision-making through detailed cost analysis and reporting, often utilizing sophisticated data tools and techniques across various business operations.
Essential Position Responsibilities
- Maintain cost models to accurately calculate the cost of products, services, and operations, including direct and indirect expenses.
- Assist departments in analyzing potential cost-savings through contract negotiations and bidding process, as needed.
- Collect and analyze large datasets from various sources, including financial systems and operational data, to identify trends, cost drivers, and areas of improvement.
- Maintain comprehensive cost analysis reports, dashboards, and assist in preparing presentations for senior management, highlighting key insights and actionable recommendations.
- Assist in maintaining budgets, forecasting future costs, and identifying potential variances, as assigned.
- Identify cost-reduction initiatives by analyzing operational processes and recommending improvements.
- Partner and collaborate with cross-functional teams across departments to gather information to better understand the business needs and communicate findings through analytics.
- Track and monitor the effectiveness of cost-saving initiatives and adjust as needed.
Key Skills and Qualifications
- Proficient in data analysis techniques, statistical modeling, and financial modeling
- Deep understanding of cost accounting principles, budgeting, and financial reporting.
- Ability to interpret business operations and translate complex data into actionable insights.
- Proficient in data visualization tools, advanced Excel functions, and data management systems.
- Excellent written and verbal communication skills to effectively present to key stakeholders and team members.
Qualifications
- Education: Bachelor’s degree in accounting, finance, economics or other related field.
- Licensure and Certifications: N/A
- Experience: Previous experience in cost analysis, financial planning, or business intelligence roles. Knowledge of specific industry cost drivers and operational processes. Proven track record in identifying and implementing cost-saving initiatives.
Work Environment: This position will spend 90% of time sitting while performing work in a standard office environment and 10% of time standing and/or walking while pushing, pulling, lifting, and/or carrying up to 50 lbs.
