Healthcare Business Analyst

A Healthcare Business Analyst works as an intermediary between the client and the technical team to develop a solution for the healthcare Industry.

Broadly speaking, a Business Analyst in healthcare domain understands the business requirements, analyses the requirements, models the processes, designs, and documents the systems requirements.

In this article, we will explain the role, responsibilities, career path, and salary of a healthcare Business Analyst.

What does a Healthcare Business Analyst do?

The job specification for a healthcare business analyst depends upon the organization’s structural level. However, some everyday responsibilities of this Healthcare Business Analyst profile are mentioned below:?

• Regularly checking and inspecting the work and instructing the changes if required by the team members.?
• Concluding and processing in-depth data analysis using simple but not limited to a spreadsheet, Microsoft tools.?
• Assembling, arranging, and assessing pertinent data, including financial statements, vendor contracts, and EHR system specs.
• Conducting interviews as required to understand current procedures and identify potential areas for change. Communicating with internal and external stakeholders.
• To provide suggestions for how to realize savings and enhance business processes, companies analyze their income, profits, and losses and present employee levels.
• Creating alternate strategies and plans for potential adoption, such as selecting a new EHR vendor or recommending technology to aid system interoperability.

Roles & Responsibilities of Healthcare Business Analyst

A business analyst in healthcare industry performs the following tasks:

• Conducts elicitation meetings to understand business requirements for the proposed system.
• Facilitates interviews as required to understand current procedures and identify potential areas for change. Communicating with internal and external stakeholders.
• Evaluate and design healthcare processes for improvement or implementation.
• Documents the detailed requirements specifications for the technical team to develop the application.
• Collaborates with the stakeholders to analyze, evaluate and implement changes in the system for better results
• Conducts solution evaluation to assess the value realization and designs improvements, if value is not realized
• Creates alternate strategies and plans for potential adoption, such as selecting a new EHR vendor or recommending technology to aid system interoperability.

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Healthcare Business Analyst Career Path

Business Analysts in healthcare domain enjoy good growth and remuneration. One of the reasons for this is the strong growth in healthcare IT domain.

The industry’s growth is enticing, making healthcare business analysts one of the most sought-after job profiles.

Most of the business analysts begin their journey as a general Business Analyst and then progress into other areas or specializations.

Healthcare Business Analyst, Entry Level:?You can start as a healthcare Business Analyst, by training yourself in Healthcare domain. A healthcare professional can also transition to a healthcare BA profile.

Healthcare Business Analyst, mid-Level:?You grow into a senior role with 3-5 years of experience executing healthcare projects. At this level, you can choose to be:

• Business Analyst, Healthcare
• Healthcare data analyst

Healthcare Business Analyst, Senior Level:?With 5-10 years of experience, you open up several new career options for yourself. These could be:

• Healthcare domain SME
• Business Consultant
• Business Analyst Manager
• Data Analyst Manager

Healthcare Business Analyst, CXO level:?A business analyst in any domain can decide to get into senior CXO level positions. Obviously, it depends on your aptitude and interest. Many Business Analysts want less-stressful life, so they pursue the domain expertise further.

If you decide to get into CXO positions, you definitely need to learn the art of networking, managing teams and many other skills.

Healthcare Business Analyst Salary & Job Opportunities

As we have already discussed that the Healthcare IT sector is growing at a CAGR of 18.3% and this growth rate is likely to continue. The demand of professionals in this field is also likely to be strong. Business Analys’s demand is going to be no different. Some of the top companies which hire Healthcare Business Analysts are as follows:

• Philips Healthcare
• GE Healthcare
• eClinicalWorks
• McKesson
• Atos-Syntel
• Accenture
• Tech Mahinda and more..

In the US, a healthcare business analyst gets an average salary of USD 1,00,749. The typical incentive for a healthcare business analyst is $6,000, or 6% of their base pay. This variation demonstrates how healthcare business analyst professions can produce significantly diverse results, highlighting the importance of intelligent career planning for any job seeker’s long-term success.