Senior Director Financial Services

Company: Westchester Medical Center
Location: Hawthorne
Posted on: June 6, 2021

Job Description:

Job Summary: The Senior Director Financial Services reports directly to the VP, Financial Services and is responsible for assisting with practice financial operations and managing all aspects of professional billing revenue cycle operations for Advanced Physician Services (APS). APS is a medical group consisting of approximately 700 employed providers who see patients at 60 multi-specialty practice locations and WMC Health hospitals. The Sr. Director works collaboratively with all levels of management to deliver an excellent patient experience with respect to accurate and timely coding, billing and collections for medical services rendered. Additionally, the Senior Director Financial Services has oversight of financial operations of APS, providing financial direction and support in the areas including but not limited to: financial planning, budgeting, reporting, provider compensation, and third-party vendor & provider contract management.

Responsibilities:

• Responsible for approximately 25 internal support staff FTEs in addition to managing third-party vendor relationships consisting of approximately 165 support staff, including direct supervision of Director of Revenue Cycle, Physician Billing Managers, Professional Coders, Charge Entry, Follow-up, and Cash posting.
• Directs all hiring, performance evaluations, disciplinary actions, education/development plans, and group staff meetings with the assistance of direct reports. Serves as a role model to staff, providing guidance and helping to boost overall moral.
• Sets goals and monitors performance of coding, billing, follow-up, cash posting, customer service, and collection activities helping to improve cash flow, days in A/R and other performance metrics.
• Oversees complex analytical reports including budgets, revenue and expense analysis, business trends analysis, and special ad-hoc projects related to the designated APS business unit.
• Assists VP, Financial Services with physician contract management and provider compensation management, including the implementation and management of physician compensation models
• Oversees and manages third-party vendor contracts/service agreements, recommending additions/deletions of services based on performance measures and cost effectiveness during contract negotiations.
• Establishes and monitors short and long-term revenue cycle strategic plans and initiatives for APS in conjunction with the Vice President, Financial Services
• Works with information/EMR system teams to provide revenue cycle and clinical staff with the technical resources, training, and support needed to optimize workflow efficiency in the performance of daily operations.
• Interacts with senior management, hospital managed care and revenue cycle team, department directors, providers, regulatory agencies, third-party partners, patients and other stakeholders on professional billing matters affecting APS.
• Monitors and evaluates the processes and procedures in the patient registration, coding, billing, claim submission, denials management and follow-up. In conjunction with the department directors and practice management, implements changes to the functions and procedures of the departments.
• Leads and participates in various meetings regarding APS professional revenue cycle and financial operations.
• Stays well informed on government and private payer regulatory changes affecting referrals, authorizations, covered services, medical necessity, coding, billing, and reimbursement.
• Coordinates the preparation of reports and monitors performance of revenue producing departments. Works with department directors of all divisions, considers policy changes that have financial implications.
• Prepares summary reports and special project assignments for Vice President, Financial Services.
• Initiates systems that contribute to enhancing cash flow and reduce accounts receivable days.
• Encourages and promotes interdisciplinary planning and collaboration in order to achieve revenue enhancement.
• Maintains contracts and documents to ensure proper accountability and process for programs and related activities.
• Ensures that APS revenue cycle complies with all WMCHealth policies and that the department remains in compliance with state and federal regulations.
• Works in coordination with the hospital's leadership in joint efforts to improve the delivery of integrated services.
• Other tasks/duties as assigned.

Qualifications/Requirements:

Experience: 10-15 years of experience in healthcare financial operations and management, including 5+ years recent management responsibilities, required. Demonstrated success in senior financial leadership positions in a large, complex, multi-hospital organization and a working knowledge of, Medicare and Medicaid regulations.

Education: BS in business, finance, accounting or related field required. MBA or related Master's degree preferred

Licenses / Certifications:

Other:

Special Requirements:

• Knowledge of end-to-end revenue cycle operations as well as knowledge of managed care and other payer processes and agreements.
• A demonstrated success in implementing organization-wide information technology system and workflow process improvement.
• Knowledge of ethical, financial, legal and regulatory requirements pertinent to healthcare.
• A demonstrated ability to identify and communicate risks to Senior Leadership with accompanying risk mitigation strategies.
• A demonstrated successful experience with working in a matrix environment. Knowledge of governmental regulations pertaining to healthcare.
• A working knowledge of, Cerner, and/or other enterprise software preferred.
• Interpersonal and management skills facilitate improvements working with broad, diverse groups, including staff, practice management, hospital managed care/revenue cycle, physicians, senior leadership, patients and community groups.

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Keywords: Westchester Medical Center, Yonkers , Senior Director Financial Services, Other , Hawthorne, New York