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Manager, Net Revenue - Charlestown, United States - Beth Israel Lahey Health - Non Executive
Description
Job Description
Job Type: Regular
Time Type: Full time
Work Shift: Day (United States of America)
FLSA Status: Exempt
When you join the growing BILH team, you're not just taking a job, you're making a difference in people's lives.
Job Type:
RegularScheduled Hours:
40Work Shift:
Day (United States of America)The Manager of Net Revenue will play a crucial role in our health system's financial operations, focusing on optimizing net patient service revenue. This individual will be responsible for overseeing revenue recognition, analysis, and reporting activities, ensuring compliance with applicable laws, regulations, and accounting standards.Job Description:
Essential Duties & Responsibilities including but not limited to:
• Lead the process of net revenue management including but not limited to charge capture, charge description master maintenance, payer contract management, and billing compliance.
• Estimates net patient revenue and manages the accounts receivable reserve.
• Conduct complex financial analysis and prepare detailed reports on net revenue trends, variances, and forecasts.
• Collaborate with the finance team to integrate net revenue metrics into overall financial reporting.
• Ensure compliance with healthcare financial regulations, payer contracts, and accounting standards.
• Stay updated with changes in healthcare finance regulations and implement necessary adjustments.
• Manage and mentor a team of revenue analysts.
• Provide training and development opportunities to enhance their skills and efficiency.
• Work closely with other departments such as Billing, Coding, and Patient Financial Services to identify and resolve revenue cycle issues.
• Identify opportunities for process improvements to optimize revenue cycle performance and implement strategic initiatives.
Minimum Qualifications:
Education:
• Bachelor's Degree in business management, healthcare, finance, or accounting required and
• Master's Degree of Accounting or MBA preferred
Licensure, Certification & Registration: n/a
Experience:
• Minimum of 5 years of experience in healthcare finance or revenue cycle management with at least 2 years in a supervisory role.
• Strong understanding of healthcare revenue cycle, payer contracts, and regulatory requirements.
• Proficiency in financial analysis, forecasting, and reporting.
• Excellent leadership and team management skills.
• Strong communication and interpersonal skills.
Skills, Knowledge & Abilities:
• Ability to communicate complex concepts in simple form to non-finance users to understand the appropriate use and limits of information provided.
• High level of systems analysis and problem solving skills necessary in order to develop and implement new procedures and solutions.
• Ability to utilize critical thinking skills, do strategic planning and project management.
• High sense of purpose and urgency and strong analytical skills.
• Ability to work with tight deadlines and identify priorities in a fast-paced, highly visible environment while maintaining attention to detail.
• Strong people and interpersonal skills; ability to build relationships; team player.
• Fosters creativity, innovation and divergent thinking in self and others.
• Ability to effectively implement change.
• Demonstrated experience teaching, mentoring and developing skills sets, where appropriate.
• Ability to take complex analytical data and synthesize it in reportable and understandable context.
• Demonstrated experience teaching, mentoring and developing skills sets, where appropriate.
• Strategic and forward-thinking
• Flexible and creative
• Articulate, collaborative and approachable
• Strong written and oral communication skills are required.
• GAAP knowledge required
FLSA Status:
ExemptAs a health care organization, we have a responsibility to do everything in our power to care for and protect our patients, our colleagues and our communities. Beth Israel Lahey Health requires that all staff be vaccinated against influenza (flu) and COVID-19 as a condition of employment. Learn more about this requirement.More than 35,000 people working together. Nurses, doctors, technicians, therapists, researchers, teachers and more, making a difference in patients' lives. Your skill and compassion can make us even stronger.Equal Opportunity Employer/Veterans/Disabled
