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, Westport , Vice President, Professional Revenue Cycle, Executive , Edison, Connecticut