Director, Physician Pay & Planning - Hackensack Meridian Health

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The Director, Physician Pay & Planning is responsible for the coordination and completion of physician practice financial modeling across the Hackensack Meridian Health (HMH) physician division and the administration of the productivity-based physician compensation reconciliation process. Completes or coordinates completion of business development and feasibility studies. Responsible for the creation and monitoring of assigned statistical indicators & reports. Provides operational financial leadership to support to the Network by developing and implementing plans for improved accuracy and timeliness of compensation, contractual and other operational reporting to support the strategic initiatives. Provides budgeting and monitoring monthly financial performance for the Network as well as assisting in Regional and CTS reporting.

A day in the life of a Director, Physician Pay & Planning at Hackensack Meridian Health includes:

• Physician Contract Management. Ensures maintenance of detailed contract tracking and compensation monitoring using the PeopleSoft and other Network tools.
  • Works with Vice President of Physician Division and/or VP of Strategy and/or Planning and legal department to develop, modify, benchmark and refine physician and related entity contracts including: reviews and comments on contracts as appropriate; offers solid opinions with justification and follow-up; performs in-depth analysis; interpretation of contracts; financial analysis.
• Coordinates Physician Compensation and Lease reconciliation process for the Network Includes the Regional Physician Division Site Controllers and other Analysts. Ensures timely, complete and accurate physician compensation payments for provider fixed and variable compensation.
  • Coordinates the execution and communication of new employment agreement financial terms, amendments and professional service agreements;
  • Ensure all requirements and needed documentation related to payments is contractually appropriate;
  • Approves all payments of variable compensation or specialty payments before they are submitted to Administrators for processing on MyWay payment.
  • Ensures appropriate senior level communication and adjustments are completed for all compensation reconciliations.
  • Oversees education of staff, via the Regional Site controllers, on protocols for compensation and contract issues and monitors compliance with those protocols.
• Coordinates the due diligence and planning for new acquisitions. Works closely with the Vice President of Physician Services as well Business Development/Strategy leaders across the HMH network, in the development of profit and loss statements for the acquisition of new business and programs.
  • Oversees work of the Regional Physician Division Site Controllers performing planning functions, to ensure consistency across the Network.
  • Meets with outside physician groups assigned to collect and review all historical source documents, tax returns, etc. in order to prepare acquisition financial projections.
• Prepares and ensures completion of all necessary support documentation; including but not limited to, P&L's, Phase 1's and benchmarking that are presented at the monthly TELT (Transitional Executive Leadership Team) meeting.
• Ensures accounting for all Variable Compensation arrangements are recorded in accordance with contract GAAP. Works in conjunction with the Regional Physician Division Site Controllers to ensure physician salary and expense analysis is accurate; assists as assigned.
• Provide hands on leadership during creation of automation of provider compensation to improve accuracy and efficiency. This position will work with the Director of Physician Division Reporting and related Network leaders to accomplish this and modify on an on-going basis.
• In conjunction with Director of Physician Reporting, takes a leadership role in the development of operating budgets for the Physician Division of the Network with full ownership of Provider compensation and New Business budgeting and tracking. Takes full ownership of key areas assigned.
  • Assists in budget education sessions for Regional practices, analyzes and validates budget assumptions. Ensures provider compensation and related volumes are calculating correctly.
• Compiles statistical, FTE and other analytics as needed for monitoring and communicating performance. Ensures all benchmarking data is accurately loaded in Axiom and or BI as it relates to productivity and compensation benchmarking.
• Assures the absolute financial integrity of financial reporting data.
• Assumes an active role in analyzing and exploring means of reducing Physician Division operating costs and increasing revenues based on knowledge of market trends, financial reports and operating procedures.
• Other Duties as assigned to support Regional, CTS and Network leadership
  • Participates in assigned executive leadership, CTS and Physician leadership and operations meetings on-site.
  • Develops and monitors internal control systems to safeguard assets.
  • Provides leadership and professional skills to ensure financial plans meet desired objectives.
  • Manages and assigns information requests and oversees interactions with corporate internal audit staff.
• Adheres to HMH's Managerial competencies and standards of behavior.

Education, Knowledge, Skills and Abilities Required:

• Bachelor's degree in Accounting or Finance.
• Minimum of 10 years of management experience in accounting, finance, revenue cycle experience in the healthcare industry.
• Minimum of 5 years' experience/concentration with large medical group(s) including physician compensation, planning benchmarking and contracting administration experience.
• Unique skill set with the ability to understand thorough knowledge of Physician contracting and benchmarking, knowledge of physician revenue cycle including CPT codes and related modifiers; charging/billing/cash posting methodologies as well as an understanding of general accounting principles.
• Advanced proficiency in using technology including but not limited to Excel, Epic or other Part B Billing Systems, Axiom Budgeting Systems, Report writing, etc.
• Excellent written and verbal communication skills.
• Strong interpersonal, team and organizational skills.
• Must be able to establish effective working relationships with Senior Management and Staff at all levels of the organization.

Education, Knowledge, Skills and Abilities Preferred:

• MBA and/or CPA.

If you feel that the above description speaks directly to your strengths and capabilities, then please apply today!