Vendor Management Specialist

Hackensack Meridian Health•Hackensack, NJ

About The Position

The Vendor Management Specialist oversees and manages relationships with external Revenue Cycle vendors. This role ensures vendors meet performance standards, deliver quality work, and adhere to contractual agreements. The Specialist will maintain internal vendor workflows, process invoices through internal systems, maintain internal logs for invoice status, legal negotiations and processes.

Requirements

High School diploma, general equivalency diploma (GED), and/or GED equivalent programs.
Prior accounts payable or Invoice/Reconciliation experience
Proficiency in Windows and Google Suite.
Strong Attention to detail and highly organized.
Excellent written and verbal communication skills.
Proficient computer skills that include but are not limited to Microsoft Office and/or Google Suite platforms.

Nice To Haves

Prior hospital finance/billing experience is a plus.
Proficient in People Soft Financials.
Prior working relationships with vendors.
PC proficiency on Windows Suite.

Responsibilities

Utilizes and adds to the vendor onboarding checklist by ensuring seamless navigation through legal, procurement, and IT processes. Provides both Vendor and Senior leadership with updates on the status and escalates any roadblocks.
Participates in RFI, RFP and vendor selection processes. Maintains meeting minutes and deliverables for calls. Ensures vendors receive all appropriate information to provide quality review of data and quotes for workload. Ensures compliance standards are in place before data sharing such as BAA.
Responsible for participating in and tasks derived from vendor consolidation which will include organizing master service agreements, negotiations for rates, and standardization of invoicing, spending, ROI and vendor maps.
Tracks Key Performance Indicators (KPIs) and service level agreements (SLAs) to evaluate vendor performance.
Responsible for tracking vendor invoicing and adherence to HMH policies and expectations for payment processing.
Partners with Manager on the development of and maintenance of trackers, scorecards, and reports as it relates to vendor management. Performs data collection and analysis duties to respond to key issues, and increase vendor performance and efficiency.
Collaborate with internal teams to address quality issues and implement process improvement.
Serve as the primary point of contact for vendor communications, fostering strong and collaborative relationships.
Support budget and forecasting by providing insight into vendor spending and performance trends.
Maintains system-level vendor revenue cycle roadmap to ensure an accurate picture of all RCM vendors.
Other duties and/or projects as assigned.
Adheres to HMH Organizational competencies and standards of behavior.