HEALTH CARE
The primary responsibility of a healthcare business analyst is to pinpoint problems or improvement areas within a medical facility in order to maximize that facility’s performance and profit. They must assess financial activity and seek ways to manage expenses like overtime wages and the cost of supplies. Aspiring healthcare business analysts must have a bachelor’s degree in a field such as healthcare management or business administration.
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A healthcare business analyst’s duties begin with defining a problem or highlighting an area for improvement, such as operating costs. At this point, analysts working within a group setting may divide into teams and break down a situation into manageable components, like minimizing staff overtime wages or reducing supply costs. Analysts then conduct research and gather data. For example, healthcare business analysts who seek to decrease supply costs might call vendors to negotiate bulk purchases, which can be distributed among various sites.
After the research is complete, groups of healthcare business analysts may reconvene, review findings and investigate potential solutions. Analysts may use computer software or mathematical models to test variables, such as the effects of minimizing overtime on the quality of patient care. Once the models have been sufficiently assessed, analysts choose the best fit and prepare to implement a solution or policy.