340B Program Analyst

Description

POSITION DESCRIPTION:

Family Health Centers of Southwest Florida (FHCSWF) the 340B Program Analyst supports the organization's 340B Program by monitoring compliance, conducting audits, analyzing financial and operational data, and identifying opportunities to improve program performance and resource utilization. This position works closely with the 340B Compliance Administrator, Pharmacy, Finance, IT, Compliance, and 340B oversight leadership to ensure the program operates efficiently, maintains regulatory compliance, and maximizes the organization's financial and operational value. The position requires strong analytical skills, attention to detail, knowledge of pharmacy operations and 340B requirements, and the ability to translate complex data into actionable recommendations for leadership. Adheres to Corporate Compliance program, by reporting improper or unethical conduct, violation of applicable laws, regulations or program requirements

DETAILED DUTIES AND RESPONSIBILITIES:

• Assist the 340B Compliance Administrator with internal, external, and regulatory 340B Program audits.
• Conduct regularly scheduled 340B audits and monitoring activities to identify compliance risks, discrepancies, and reconciliation issues.
• Investigate identified discrepancies and work with appropriate departments to resolve issues promptly.
• Maintain complete and organized documentation, reports, audit findings, and supporting records for compliance and audit purposes.
• Monitor program activities and identify trends or processes that may create compliance risk.
• Assist with the development and implementation of corrective action plans when deficiencies are identified.
• Maintain current knowledge of 340B Program requirements and apply that knowledge to daily monitoring and program oversight.
• Perform data extraction, manipulation, validation, and analysis to support 340B compliance, financial performance, and operational monitoring.
• Develop and maintain reports that measure program volume, financial value, utilization, compliance, and performance.
• Create reports that educate staff and assist management in understanding and monitoring the financial impact of the 340B Program.
• Develop additional reports and analytical tools as needed to identify trends, monitor performance, and support decision-making.
• Maintain appropriate reporting packages and historical data for compliance, audit, and management purposes.
• Construct financial metrics and performance indicators to identify opportunities for improvement.
• Perform covered-entity-specific gross financial analyses and provide recommendations to improve program performance.
• Track financial performance over time, identify root causes of unfavorable trends, and recommend strategies to improve program stability and sustainability.
• Review and refine monthly 340B cost-savings reports, including purchasing, replenishment, inventory, and dispensing activity.
• Monitor, analyze, and report on contract pharmacy 340B activities.
• Review contract pharmacy performance, utilization, compliance, financial results, and potential liabilities.
• Prepare financial reports outlining the financial impact of contract pharmacy arrangements for applicable covered entities and leadership.
• Identify trends, discrepancies, and opportunities to improve contract pharmacy efficiency and financial performance.
• Make recommendations regarding contract pharmacy processes, utilization, and resource allocation.
• Identify and evaluate opportunities to improve 340B processes, systems, workflows, and resource utilization.
• Assess system capabilities and recommend improvements that strengthen compliance, reporting accuracy, efficiency, and program performance.
• Collaborate with IT and other departments to improve data integrity, system functionality, reporting, and automation.
• Analyze operational processes to identify inefficiencies, duplication, financial leakage, and opportunities for cost savings.
• Recommend and assist with implementation of process improvements that enhance the overall value of the 340B Program.
• Monitor the effectiveness of implemented improvements and quantify financial or operational outcomes when possible.
• Build and maintain collaborative relationships with internal departments, including Pharmacy, Finance, IT, Compliance, Operations, and Leadership.
• Provide data, reports, analysis, and insights to support organizational decision-making and other business-unit needs.
• Collaborate with the pharmacy, compliance, and 340B oversight councils to establish and monitor monthly, quarterly, and annual audit metrics.
• Participate in 340B meetings, committees, and oversight activities as assigned.
• Communicate complex financial, operational, and compliance information clearly to both technical and non-technical audiences.
• Support staff education by developing reports, presentations, and other materials related to 340B compliance and program performance.
• Develop and maintain a high level of expertise in the 340B Program, including applicable regulatory requirements, industry standards, pharmacy operations, and emerging best practices.
• Expand knowledge of the healthcare and pharmacy industries and apply that knowledge to identify opportunities for program enhancement.
• Monitor changes in 340B regulations, guidance, industry practices, and technology that may affect program operations.
• Share relevant knowledge and recommendations with leadership and the 340B oversight team.

Requirements

KNOWLEDGE, SKILLS AND ABILITIES:

• Good interpersonal skills.
• Ability to conduct oneself professionally.
• Strong analytical and problem-solving skills.
• Advanced proficiency with Microsoft Excel and demonstrated ability to manipulate and analyze large datasets.
• Strong attention to detail and ability to identify discrepancies and trends.
• Ability to manage multiple priorities and meet established deadlines.
• Excellent written and verbal communication skills.
• Ability to maintain confidentiality and handle sensitive financial, operational, and compliance information.
• Demonstrate a commitment to ongoing professional development and maintaining current knowledge of 340B regulations, industry best practices, and emerging technologies.

TRAINING AND EXPERIENCE:

• High school diploma or equivalent required; Associate's or Bachelor's degree in Business, Healthcare Administration, Finance, Accounting, Information Technology, Data Analytics, or a related field is a plus.
• One (1) to three (3) years of experience in healthcare, pharmacy, finance, data analysis, auditing, compliance, administrative support, or a related field preferred.