AVP, Patient Financial Services

US-NY-New York
4 months ago
Job ID
2017-8941
Category
Finance
Emp Status
Regular Full-Time
Hours per Week
35
Shift
Days

Overview

POSITION:       Assistant Vice President, Patient Financial Services

 

POSITION OVERVIEW: The AVP, Patient Financial Services (AVP-PFS) reports to the Vice President, Revenue Cycle. Through the management of the Patient Financial Services Department, the AVP-PFS ensures maximum utilization of available resources to enhance cash receipts and minimize bad debt.

 

The day-to-day responsibilities of the position are focused on the direction, coordination, and monitoring of work plans and deliverables of the department, which is made up of three direct reports and their staff (approximately 70 indirect reports). The department's work is focused primarily on inpatient and outpatient, billing and collections, contract management, customer service call center, cash posting, pre-collection for patient accounting, and patient relations. The AVP-PFS is responsible for creating a performance system that is fair and equitable and results in a culture of high performance and excellence.

 

The AVP-PFS will work closely with other members of the team to help implement and continuously improve the hospital’s revenue-cycle strategy.

 

RESPONSIBILITIES: The specific responsibilities include, but are not limited to:

 

  • Create and align Patient Financial Services’ goals and work plans with those of the institution and the Finance Department.
  • Ensure optimal performance of the Epic system. Work collaboratively with IT and revenue-cycle leadership to improve.
  • Manage staff to successfully achieve financial performance targets, e.g., revenue performance and critical indicators (AR, % cash to revenue, % bad debt, complaints); control departmental budget and spending.
  • Manage all projects through a systematic approach that translates work plans into deliverables, with measurable outcomes, on a timely and cost-effective basis.
  • Help directors and their staff resolve issues and assure accuracy and timeliness of billing, follow-up, adjustments, refunds, collections, and payment posting.
  • Work with the Managed Care Department and third-party payors to ensure payment accuracy; analyze A/R and third-party rejections, and improve the process.
  • Partner with the Revenue Integrity Department to ensure that the charge description master is accurate in regard to billing-related revenue and procedure codes.
  • Routinely monitor AR reports to ensure timely and accurate billing. Evaluate unbilled receivables to ensure proper actions are taken to release claims promptly for reimbursement.
  • Oversee evaluations and improvements to billing software by working collaboratively with the Information Technology Department and software vendors.
  • Evaluate call-center performance and ensure that departmental responses are prompt and timely.
  • Select and monitor the performance of external-vendor resources for services not provided by hospital staff or as an extension of the Hospital Business Office.
  • Ensure compliance with all applicable regulatory requirements and standards, including Code of Conduct and Standards of Care.
  • Manage and develop the department’s personnel; build and sustain a highly capable and engaged team and foster a team-centered culture.

 

EDUCATION:

  • A bachelor’s degree in accounting/finance, healthcare administration, or a related field is required. Advanced degrees are desirable, but not required. 

EXPERIENCE, COMPETENCIES, AND PERSONAL CHARACTERISTICS:

 

  • Solid experience (10+ years) at a senior level in patient accounting/services in a hospital is required. Major teaching/surgical hospital experience is highly desirable.
  • Direct experience with all aspects of patient accounting, to include: inpatient and outpatient billing and collections, insurance verification, cash posting, precollections, and patient relations. Familiarity with patient registration is desirable.
  • Demonstrated expertise in effectively managing Accounts Receivable to ensure that cash receipts are enhanced and bad debts minimized. 
  • Highly analytical and process driven, with a proven skill set in systems and data-driven healthcare performance improvement (Lean, Six Sigma, Baldrige, or other methods) is desirable.
  • Technology and system savvy: excellent understanding of processes, systems, and databases; familiarity with Epic, Revenue Cycle and Relay health-claim systems is highly desirable; familiarity with coding and ICD-10 is a plus.
  • Proven leadership skills and experience managing a large department through well-established performance management skills.
  • Well organized and disciplined, with the ability to manage multiple priorities and projects. Experience leading/participating in hospital-wide projects and initiatives.
  • Knowledgeable about the healthcare industry (e.g., managed care/revenue cycle) and translates that information into strategies that add value and improve operations.
  • Outstanding written and oral communication skills; good listening capability; skilled at influencing a variety of people; can structure and effectively lead business meetings.
  • Exceptional interpersonal skills; success at cultivating strong relationships with internal and external stakeholders and creating partnerships at all levels.

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