Director of Budgets and Reimbursement

3 weeks ago


Hackensack, United States Professional Search Network Full time

Essential Functions of the Job:

  1. Preparation and Supervision of Medicare Cost Report: Responsible for overseeing the preparation and submission of Medicare cost reports, ensuring accuracy and compliance with regulations.
  2. Federal Reimbursement Programs Management: Implement and maintain changes to Federal Reimbursement programs, ensuring the hospital optimizes reimbursement opportunities.
  3. Maximize Reimbursement from Third Party Payers: Research and review current and proposed Medicare and Medicaid regulations to maximize reimbursement from third-party payers.
  4. Charge Master Maintenance: Ensure the Hospital charge master is updated with all CPT-4 coding changes to accurately reflect services provided.
  5. Competitive Charge Levels: Ensure charge levels are competitive within the local market to maximize revenue.
  6. Budget Variance Analysis: Prepare and/or supervise the calculation of monthly budget to actual variances for revenue and expenses, providing explanations to senior management.
  7. Budget Preparation and Supervision: Oversee the completion of the Hospitals annual Operating and Capital budgets, ensuring accuracy and alignment with organizational goals.
  8. Data Summarization and Presentation: Summarize data for senior management review and present budget recommendations clearly and concisely.
  9. Monthly Budget Reporting: Ensure timely and accurate distribution of monthly budget reports to Department Managers, including Budget Comparison, Detailed Expense, FTE, and Revenue by Charge Code.
  10. Patient Statistical Information Management: Oversee the preparation and distribution of accurate and timely patient statistical information.
  11. Workflow Optimization: Utilize existing information system capabilities to maximize workflow efficiency.
  12. Financial Statement Assistance: Assist in compiling and completing monthly and annual audited financial statements.
  13. Journal Entries and Month-End Close: Assist in monthly journal entries and the financial month-end close process.
  14. Financial Projections and Analysis: Assist with financial projections and pro-forma analysis to support senior management decisions.
  15. Financial Analysis: Perform return on investments analysis and other financial analysis to support senior management decisions.
  16. Profit & Loss Statement Preparation: Prepare Statements of Profit & Loss at the payer and departmental levels, distributing results to all levels of management and making recommendations for adjustments.
  17. Cost Benchmarking: Develop hospital-wide and department-specific cost benchmarking, collaborating with third-party vendors to summarize data and establish goals.
  18. Communication Skills: Demonstrate effective oral and written communication skills in interacting with stakeholders.
  19. Other Duties: Perform any other duties as assigned by senior management.

Education: Bachelors Degree in Finance or Accounting.

Experience: Minimum of 6+ years of budgeting and reimbursement experience in a Hospital environment. Thorough knowledge and working experience with microcomputer and spreadsheets software.



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