Territory Patient Financial Services Director

3 weeks ago

Dallas, United States LHH Full time

Territory Patient Financial Services Director


Summary: We are seeking a skilled and experienced Territory Patient Financial Services Director with expertise in outsourcing and vendor management within an acute care or hospital setting. The ideal candidate will oversee all aspects of patient financial services within their designated territory, ensuring efficiency, accuracy, and compliance with regulatory requirements. They will possess strong leadership abilities to manage teams effectively, while also demonstrating proficiency in outsourcing strategies and vendor relationships to optimize financial performance.


Responsibilities:

Leadership and Team Management:

  • Lead and manage a team of patient financial services staff within the territory.
  • Provide guidance, support, and mentorship to ensure team members meet performance objectives and uphold service standards.
  • Foster a collaborative and positive work environment conducive to professional growth and development.

Financial Operations Oversight:

  • Oversee all financial operations related to patient services within the territory, including billing, collections, and accounts receivable management.
  • Develop and implement strategies to optimize revenue cycle performance and minimize denials and write-offs.
  • Monitor key performance indicators (KPIs) and financial metrics to track progress and identify areas for improvement.

Outsourcing Strategy Development:

  • Develop and implement outsourcing strategies for specific patient financial services functions, as applicable.
  • Evaluate current processes and identify opportunities for outsourcing to improve efficiency and reduce costs.
  • Collaborate with internal stakeholders to ensure alignment with organizational goals and objectives.

Vendor Management:

  • Manage relationships with third-party vendors and service providers engaged in patient financial services outsourcing.
  • Negotiate contracts, service level agreements (SLAs), and pricing structures to ensure favorable terms and maximum value for the organization.
  • Monitor vendor performance and compliance with contractual obligations, implementing corrective actions as needed.

Compliance and Regulatory Oversight:

  • Ensure compliance with all relevant regulatory requirements, including HIPAA, CMS guidelines, and other industry standards.
  • Stay abreast of changes in regulations and implement necessary adjustments to policies and procedures to maintain compliance.
  • Conduct periodic audits and assessments to assess adherence to regulatory standards and identify areas for improvement.

Reporting and Analysis:

  • Prepare and present regular reports on financial performance, outsourcing initiatives, and vendor management activities to senior leadership.
  • Analyze data and trends to identify opportunities for process improvement and cost savings.
  • Collaborate with finance and accounting teams to reconcile financial records and ensure accuracy.

Continuous Improvement:

  • Drive continuous improvement initiatives to enhance the efficiency, quality, and effectiveness of patient financial services operations.
  • Solicit feedback from stakeholders and implement best practices to optimize processes and workflows.
  • Encourage innovation and creativity within the team to solve complex challenges and achieve strategic objectives.


Requirements:

  • Bachelor's degree in Healthcare Administration, Business Management, Finance, or related field required; Master's degree preferred.
  • Minimum of 3 years of experience in patient financial services management within an acute care or hospital setting.
  • Proven track record of success in outsourcing strategy development and vendor management.
  • Strong leadership abilities with demonstrated experience in team management and development.
  • Excellent analytical and problem-solving skills, with the ability to interpret financial data and identify trends.
  • In-depth knowledge of healthcare billing and revenue cycle management processes.
  • Familiarity with regulatory requirements and compliance standards relevant to patient financial services.
  • Exceptional communication and interpersonal skills, with the ability to collaborate effectively across departments and with external partners.
  • Proficiency in Microsoft Office Suite and healthcare billing software applications.
  • Certification in Healthcare Financial Management Association (HFMA) or similar credentials preferred.


This job description outlines the key responsibilities and requirements for the Territory Patient Financial Services Director role, emphasizing leadership, financial expertise, and outsourcing management skills within a hospital or acute care setting.

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