Apply on Employer Site

Mount Sinai Health System · 1 day ago

Senior Director, Patient Financial Services (Backend) Corporate East 42nd Street-Full-Time Days

New York, NY

Full-time

Onsite

Director/Executive

$169K/yr - $254K/yr

10+ years exp

Mount Sinai Health System is one of the largest academic medical systems in the New York metro area, and they are seeking a Senior Director of Patient Financial Services. The Senior Director is responsible for overseeing hospital-based Billing and Accounts Receivable performance, ensuring accurate billing, fostering relationships with third-party payers, and driving operational excellence within the organization.

Health CareHospitalMedical

Responsibilities

Direct daily operations of the teams under their control , and continually work towards reducing days in Accounts Receivable, increasing cash collections, reducing bad debt decreasing denials and eliminating write offs due to process issues

Ensures workflows align with revenue cycle best practices to reduce claim denials, improve cash collections and enhance clean claim rates

Develop and implement policies and procedures that promote efficiency, data integrity, and regulatory compliance (e.g. NYS, CMS)

Monitor key performance indicators (KPI) such as initial and final denials, payer performance, staff productivity and quality touches, aged AR trends and billing lags

Collaborate with department such as coding, IT, clinical service areas and appeals to ensure seamless end-to-end revenue cycle performance

Lead, coach and mentor a team of managers, supervisors, and account representatives; oversee training, performance evaluations, and staff development

Maintain strong internal controls and audit readiness for all PFS processes

Supports organizational goals around cash collections and aged Accounts Receivable

Utilize revenue cycle and EHR systems

Organizes routine meetings with health system business leaders and managed care to review payer issues and denials

Builds effective, collaborative relationships with key stakeholders across departments (e.g., DTP, Human Resources, Managed Care, Finance, and clinical departments)

Collaborates with finance, managed care and DTP contributors to develop and operationalize optimal performance

Provides leadership and supports governance processes to result in effective, efficient, standardized, and compliant practices across the MSHS

Investigates and resolves denials and coordinates efforts to assist senior revenue cycle leaders with development of innovative strategies and solutions

Establishes and maintains strong working relationships with Revenue Cycle leaders, key stakeholders, hospital and department leaders and fosters a strong working relationship with key strategic partners

Maintains strong understanding of revenue performance metrics and payer mix and leads team in building plans to support operational departments to achieve best practice performance through strong analytical capabilities, process improvement identification, and technology enhancements

Maintains strong customer relationships with key strategic partners

Ensures appropriate functional strategic partners are engaged throughout the process

Monitors and provides regular reporting to senior management on key performance metrics (e.g., actual versus expected results for financial targets)

Brings developing issues and recommended actions to the attention of senior leadership and governance committees

Develops, maintains, and ensures compliance with standardized policies, processes, and programs throughout the MSHS

Develops a high-performing team as measured through the achievement of benchmark process outcomes, audit and compliance results, financial goals, and employee satisfaction

Stays current with government regulations regarding patient access and insurance

Establish goals, objectives, and budgets for assigned areas, and monitors/manages to ensure achievement once approved

Ensures all HIPAA privacy and security standards are adhered to

Conforms to the established policies/ procedures/ processes/ Standards of Behavior and ensures assigned staff do so as well

Performs other duties as assigned

Qualification

Patient Accounts ManagementDenial ManagementFinancial ManagementRevenue Cycle OptimizationAnalytical SkillsTeam LeadershipInterpersonal SkillsCommunication SkillsPresentation SkillsProblem SolvingCollaborationAdaptabilityRelationship Building

Required

Bachelor's degree in finance or Business-related field; Master's preferred

10 years of progressively responsible experience in patient accounts that includes experiences in third party billing rules, follow-up techniques, denial management and team building

Extensive demonstrated success in a finance department in a large not-for-profit/academic health system facility or corporate environment

Excellent interpersonal skills, experience with making presentations to, and dealing with senior management and other C-suite leaders

Financial management skills, including the ability to analyze financial data for operations, budgeting, auditing, forecasting, accounting, AR and reserve analysis, market analysis, staffing, and financial reporting

Strong leadership skills to motivate cross-departmental teams' performance towards excellence using team concepts and consensus-building management styles

Advanced/effective interpersonal, written/verbal communication, and presentation skills, along with the ability to communicate complex finance concepts to others without a finance background

Demonstrated ability to engage in positive, powerful persuasion with individuals or groups with diverse opinions and/or agendas, leading to outcomes that meet identified goals

Ability to analyze and resolve complex problems necessary to develop and administer multifaceted revenue processes, regardless of whether issues originate in an area under direct or indirect control

Ability to enlist cooperation and build teams committed to carrying out initiatives in environments that may be resistant to change and not under the incumbent's direct authority

Ability to translate key performance indicator levels into a finance-based business case, then design, implement, and manage more effective/efficient processes

The ability to maintain a high level of positive energy/creativity during periods of elevated work demands

Ability to prioritize multiple objectives in a rapidly changing environment and deliver quality outcomes

Ability to develop and maintain effective relationships at all levels throughout the organization

Strong Leadership skills