Vice President, Revenue Analytics & Budgeting

About the role

The Vice President, Revenue Analytics & Budgeting is a network level executive position within the Finance Department of Hackensack Meridian Health (HMH). This position has direct responsibility for the following areas:

• Construction of the annual operating budgets and related processes
• Revenue analytics and forecasting
• Accounts receivable valuation
• Statistical reporting
• Governmental reimbursement
• Medicare and Medicaid appeal management
• Third-party cost reports

Responsibilities

A day in the life of a Vice President, Revenue Analytics & Budgeting at Hackensack Meridian Health includes:

• Revenue Analytics And Valuation
• Provides executive level leadership and instruction regarding a network wide approach to the valuation of patient accounts receivable and operating revenue.
• Oversees the preparation of the monthly hospitals' statistics to ensure parity and consistency across the network.
• Directs the construction of the annual revenue budgets, including the correlation to statistical budgets (admissions, observations, same day surgeries and outpatient visits), and applies appropriate spreading methodology throughout the year.
• Performs and presents highly complex financial analysis to executive management.
• Provides executive leadership and instruction on analyzing trends that impact future revenues.
• Oversees all outside consultants who participate in the revenue valuation process for all Network sites.
• Facilitates multi-disciplinary meetings with departments including Managed Care, Patient Financial Services to discuss issues that may impact revenue valuation, including but not limited to volume changes, take backs, ongoing audits, etc.
• Operating Budget
• Oversees all aspects of the network budget ensuring that the HMH budget processes and financial decisions align with mission goals and objectives.
• Provides analysis and in-depth management of complex budget issues and the financial implications of short and long term, budget decisions.
• Incorporates internal controls into the budget process.
• Utilizes key financial indicators to review budget.
• Participates in the administrative budget review process; provide technical data and information required by executive management.
• Maintains monitoring relevant key financial indicators and performance metrics, modifying business activities where needed in response to changing financial situations.
• Demonstrates an inquisitive nature by analyzing and investigating operational performance on a prospective basis.
• Publishes monthly, a rolling forecast of projected financial performance.
• Reimbursement
• Improves the overall financial and operational excellence of the Network through the development, deployment and measurement of key policies, processes, tools, technologies and skills as they relate to third party reimbursement.
• Leads the direction of the preparation, filing and audit of the systems to construct third party cost reports.
• Reviews the impact of proposed audit adjustments and develops appropriate responses and negotiates final settlements with third parties.
• Directs the preparation of the GME IRS filing and DSH filings for the system.
• Monitors and reports on proposed federal and statutory legislative changes and models impacts accordingly.
• Develops the 3rd party governmental appeal strategies and initiatives.
• Participates in various state and national meetings on policy proposals affecting hospitals.
• Prepares and presents on various reimbursement topics at departmental and interdepartmental meetings as needed.

Qualifications

• Education, Knowledge, Skills and Abilities Required: BS in Finance, Accounting, or Business Management. Fifteen plus years in finance or accounting with a proven track record in reimbursement, revenue analytical and budgeting in a large network enterprise. Ten plus years of management experience preferably in a large network enterprise. Excellent analytical skills. Must be highly computer literate, including advanced use of Excel. Must function cooperatively as part of the finance management team and exhibit flexibility in response to changing demands and priorities. Ability to effectively communicate with and appropriately influence senior management from a financial perspective.
• Education, Knowledge, Skills And Abilities Preferred: MBA and/or CPA.