Vice President, Professional Revenue Cycle
Company: Hackensack Meridian Health
Location: Edison
Posted on: November 10, 2024
Job Description:
Overview
Our team members are the heart of what makes us better. At
Hackensack Meridian Health we help our patients live better,
healthier lives - and we help one another to succeed. With a
culture rooted in connection and collaboration, our employees are
team members. Here, competitive benefits are just the beginning.
It's also about how we support one another and how we show up for
our community. Together, we keep getting better - advancing our
mission to transform healthcare and serve as a leader of positive
change.The Vice President, Professional Revenue Cycle leads all
functions that contribute to the capture, management, and
collection of patient service revenue for the Physician Enterprise
across the Hackensack Meridian Health (HMH) network. Provides
leadership, strategic direction, oversight, coordination and
standardization of the physician revenue cycle. Works
collaboratively with clinical departments and Digital Technology
Services (DTS) to ensure accurate and timely charge capture and
maximizing net cash collected by the physician division. Manages
third party outsource relationships through clearly communicated
service level expectations, ensuring clear accountability and
consistent results. Use a team based approach to successfully lead
the team through quickly moving growth projects to achieve high
quality outcomes.
Responsibilities
A day in the life of a Vice President, Professional Revenue Cycle
at Hackensack Meridian Health includes:
- Leads all functions that contribute to the capture, management,
and collection of patient service revenue for Hackensack Meridian
Health Medical Group and affiliated practices.
- Provides oversight and direction of all revenue cycle services
and ensures that all processes are appropriately managed in
accordance with HMH standards and federal and state regulatory
requirements.
- Acts as a resource and develops optimum professional
relationships with operating leaders to instruct, share ideas and
implement actions for the effective management of patient revenues
and billing. These relationships will be integral to understanding
growth projects in the pipeline and set strategic priorities for
the department.
- Work collaboratively with all team members and leaders, finding
unique and creative solutions to complex problems to ensure
continued success of the professional revenue cycle.
- Provides ongoing support to professional staff to meet the
expectations established for high-quality billing, coding and
regulatory compliance and other established guidelines.
- Establish, document, and implement appropriate financial
policies, controls and procedures; maintain up-to-date expertise
and knowledge of healthcare billing laws, rules, regulations, and
developments necessary for the organization to make informed
business decisions.
- Establish oversight and review of revenue cycle systems to
identify process and quality improvements using new functionality
and new technology to transform the way revenue cycle departments
operate; lead efforts to streamline and simplify the financial
clearance, billing, contractual allowance, follow-up, cash posting,
financial counseling and refund processes. Work closely with
network departments supporting processes to ensure optimal results
for the professional revenue cycle.
- Partner with clinical operations and other key stakeholders to
drive shared revenue cycle improvement initiatives that continually
reduce days in accounts receivable, increase cash collections,
reduce bad debt write-offs, and minimize denials and write-offs due
to revenue cycle process issues.
- Monitor revenue cycle operations for compliance with
established policies, regulations, procedures, and standards.
- Develop and implement recommendations that will increase the
efficiency and productivity of revenue cycle processes and enhance
the patient financial experience.
- Oversee activity relating to delinquent accounts, collection
agencies, special adjustments, and/or write-offs and identify
opportunities to partner with and improve processes related to bad
debt and adjustments.
- Direct the preparation and maintenance of reports on revenue
cycle activities; maintain statistics from the units' work
activities and provide regular productivity reporting and feedback
to management and staff.
- Manage internal revenue cycle personnel and HMH's outsourced
3rd party RCM vendors, ensuring appropriate staffing levels based
on business needs; ensure staff and 3rd party vendors are meeting
quality of work and productivity goals; ensure accurate and timely
reporting of key performance indicators. Align incentives to ensure
high value partnerships. 14. Establish long term and short-term
operational plans for revenue cycle operations that address
financial performance, customer service, information technology,
human capital and regulatory requirements; collaborate with other
departments to optimize revenue cycle operations. 15. Plan,
develop, and implement new systematic approaches to optimize
accurate practice partner revenue and cash flow.
- Other duties and/or projects as assigned.
- Adheres to HMH Organizational competencies and standards of
behavior.
Qualifications
Education, Knowledge, Skills and Abilities Required:
- Master's Degree in accounting, business administration, or
healthcare administration.
- Seven (7) years of management experience.
- Ten (10) years of experience in healthcare finance.
- Excellent written and verbal communication skills.
- Proficient computer skills including but not limited to
Microsoft Office and Google Suite platforms. Education, Knowledge,
Skills and Abilities Preferred:
- Record of success managing complex projects with multiple,
diverse stakeholders.
- Strong analytical skills and data-driven approach.
- Strong data management capabilities, including the ability to
acquire, transform, and summarize data to create operational
insights.
- Prior experience with Epic modules including Cadence, Prelude,
Resolute Professional Billing.
- Experience working in an organization of size and complexity
comparable to Hackensack Meridian Health. Licenses and
Certifications Preferred:
- HFMA CSPPM or similar certification.If you feel that the above
description speaks directly to your strengths and capabilities,
then please apply today!
Our Network
Hackensack Meridian Health (HMH) is a Mandatory Influenza
Vaccination Facility
As a courtesy to assist you in your job search, we would like to
send your resume to other areas of our Hackensack Meridian Health
network who may have current openings that fit your skills and
experience.
Keywords: Hackensack Meridian Health, Scranton , Vice President, Professional Revenue Cycle, Executive , Edison, Pennsylvania
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