Manager, Physician Pay & Planning

Hackensack Meridian Health•Edison, NJ

About The Position

Our team members are the heart of what makes us better. At Hackensack Meridian Health we help our patients live better, healthier lives — and we help one another to succeed. With a culture rooted in connection and collaboration, our employees are team members. Here, competitive benefits are just the beginning. It’s also about how we support one another and how we show up for our community. Together, we keep getting better - advancing our mission to transform healthcare and serve as a leader of positive change. The Manager of Physician Pay & Planning reports to the Director of Physician Pay & Planning in the corporate finance team and provides operational support to the Hackensack Meridian Health (HMH) Network. Coordinates plans for improved accuracy and timeliness of physician contractual compensation and contractual reporting. Performs due diligence and planning to support growth strategies. Responsible for key compensation and productivity budgeting. Key involvement in various Taxpayer Identification Number (TIN) reorganization efforts. This position leads and coordinates compensation and productivity benchmarking, interpretation of contracts, financial analysis, and preparation and review of quarterly variable compensation. Complexities include the execution of multiple contracts encompassing approximately 1,500+ physicians and mid-level providers. Completes and/or reviews monthly and quarterly complex compensation analysis and communicates independently with Chairmen and Physicians for approvals of payments. Works with their Director and the Legal department to review and comment on all HMH physician contracts to ensure consistency in language and methodology of all financial terms. Offers solid opinions with justification and follow-up. Provides budgeting and monitoring of monthly financial performance for HMH, as well as assisting in Regional and Network Service Line (NSL) reporting.

Requirements

Bachelor's degree in Accounting or Finance.
Minimum of 7 years of management experience in accounting, finance, revenue cycle experience in the healthcare industry, with a minimum of 3 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 Current Procedural Terminology (CPT) codes and related modifiers; charging/billing/cash posting methodologies, as well as an understanding of general accounting principles.
Advanced proficiency in using technology and computer skills such as the Google Suite of applications, Microsoft Office applications, Workday, Strata, EPIC, other Part B Billing Systems, Axiom Budgeting Systems, Report writing, etc.
Strong interpersonal, team, and organizational skills.
Ability to establish effective working relationships with Senior Management and Staff at all levels of the organization.
Hands-on Working Manager.
Excellent written and verbal communication skills.

Nice To Haves

Master's of Business Administration (MBA).
Certified Professional Accountant (CPA)

Responsibilities

Ensures maintenance of detailed contract tracking and compensation monitoring using the HMH Enterprise Resource Planning (ERP) system (i.e., PeopleSoft, Workday) and other Network tools.
Works with Director 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; and financial analysis.
Coordinates Physician Compensation and Lease reconciliation process for the Network, including the Physician Division (PD) Site Controller and other Analysts. Will ensure 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 are contractually appropriate;
Approves all payments of variable compensation or specialty payments before they are submitted to Administrators for processing of payment.
Coordinates education of staff, via the Site Controller, on protocols for compensation and contract issues, and monitors compliance with those protocols.
Acquires the due diligence and planning for new acquisitions. Works closely with the Director as well as Business Development/Strategy leaders across the HMH Network, in the development of profit and loss statements for the acquisition of new business and programs.
Works with the PD Site Controller, performing planning functions, to ensure consistency across the Network.
Prepares and ensures completion of all necessary support documentation, including but not limited to Profit and Loss (P&L), Phase 1s, and benchmarking to be presented at a monthly meeting for approval.
General Finance and Accounting: Ensures accounting for all Variable Compensation arrangements is recorded in accordance with the contract Generally Accepted Accounting Principles (GAAP). Works in conjunction with the PD Site Controller to ensure physician salary and expense analysis is accurate; assists as assigned.
Assists in the creation of automation of provider compensation to improve accuracy and efficiency. Work with the Dir, Physician Systems & Reporting, and related Network leaders to accomplish this and modify on an ongoing basis.
In conjunction with the Director, takes a coordination role in the development of operating budgets for the PD of the Network, with full ownership of Provider compensation and New Business budgeting and tracking.
Assists in budget education sessions for Regional practices, analyzes, and validates budget assumptions. Ensures provider compensation and related volumes are calculated correctly.
Compiles statistical, Full-Time Equivalent (FTE), and other analytics as needed for monitoring and communicating performance. Ensures all benchmarking data is accurately loaded into the HMH financial system (i.e., Axiom) and/or AI Chat (i.e., Ekam) as it relates to productivity and compensation benchmarking.
Assumes an active role in analyzing and exploring means of reducing PD operating costs and increasing revenues based on knowledge of market trends, financial reports, and operating procedures.
Manages a team of financial analysts, including oversight of annual performance evaluations, hiring, and/or disciplinary actions as needed and appropriate.
Other duties and/or projects as assigned.
Adheres to HMH Organizational competencies and standards of behavior.