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Cost Analysis Manager

Riverside Healthcare

Norfolk, VA
Job Code:
  • Financial Services
Riverside Healthcare
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Job Details


Cost Analysis Manager




Full Time

Day Shift


Bachelor's Degree
2 years of experience required

Job Summary: Works under the supervision of the Director of Budget, Reimbursement and Tax. The Manager of Cost Analysis manages, maintains and updates the cost accounting system to be used in determining fully absorbed, variable, fixed, and functional costs and performs analyses and reports to support decision making, strategy, performance improvement, and other key operational goals for customers throughout Riverside Health System.


Responsible for all activities related to the use, improvement and maintenance of the cost accounting system and cost accounting data used in budgeting and reporting periodic financial and productivity data, strategic planning, service line costing data, and cost allocation by performing the following:

1.  Plan, develop, analyze, and collect cost, revenue, and statistical data (including integration of data from revenue and financial systems)

2. Develop costs of business activity for cost accounting, reporting, and budgeting, as well as categorizing the cost of business activity based on cost behavior, classification, and relevant time horizons.

3. Perform monthly costing process, including the validation, auditing and verification of source data to integrate financial and customer statistical and revenue data into the cost accounting system

4. Maintain documentation on costing processes, cost models and changes to cost accounting methodologies

5. Conduct cost studies and analyze changes in processes and supplies to determine effects on cost and make pricing recommendations as needed in connection with facility and departmental managers

6. Provide management with reports and data that reflect the comprehensive cost of servicing individual customers, the cost of servicing various service lines, and the estimated collections of servicing customers and service lines

7. Work collaboratively with finance and decision support departments to develop comprehensive costs for patient encounters and to produce service line reports.

8. Maintain, develop, research and participate in the optimization and selection of cost accounting processes and systems to improve the accuracy and relevance of the cost accounting data.

9. Determine intercompany costing amounts and rates for monthly financial statements and budgets

10. Using information derived from periodic cost studies, develop and compute Relative Value Units for costing, budgeting, and periodic productivity reporting

11. Participate in ongoing cost accounting steering committee meetings to identify goals and processes

12. Act as a subject matter expert, supporting and collaborating with customers; conduct training and educational sessions as needed for relative value unit development.


Education: Bachelor's degree is required preferably in accounting or finance.


Certifications: CPA/CMA is preferred.



·         Minimum of 2 years practical experience in an analytically-oriented business environment to include demonstrated aptitude and knowledge of financial analysis and project management is required.

·         Must demonstrate a thorough knowledge of cost accounting models and cost allocation techniques.

·         Strong Excel and Access skills required.

·         Excellent interpersonal, organization and analytical skills are mandatory.

·         Healthcare-related finance background is preferred.



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