Director, Net Revenue
- Arlington Heights, IL
- Permanent
- Full-time
- Position: Director, Net Revenue
- Location: Arlington Heights, IL
- Full Time/Part Time: Full time
- Hours: Monday-Friday, 8am-5pm
- Required Travel: no
- Responsible for understanding, estimating and reporting net revenue across the system including related contractual allowances, denials, bad debt and charity reserves.
- With guidance from the VP, Corporate Finance and FP&A, develop, analyze and communicate revenue optimization opportunities and assist department and system leadership with executing plans to achieve those opportunities.
- Support month end close process through modeling and explaining third party settlement amounts.
- Enhances financial acumen across operational teams by educating leaders on financial reports, metrics, and improvement strategies.
- Acts as a key resource for operational and hospital leaders, resolving complex, sensitive, and technical issues with a high level of confidentiality and judgment.
- Assist with annual budget by providing expected impacts of government regulation updates and payor reimbursement changes.
- Lead Patient Accounts Receivable financial audits and act as primary contact with external audit team, as well as reporting and reconciliation of Net Revenue and Patient Accounts Receivable general ledger accounts.
- Analyze expected changes related to managed care contracting.
- Foster and maintain relationships with Operations, Revenue Cycle, Internal Audit, and Managed Care leadership.
- Manage the System Net Revenue team and RCA relationship, providing leadership in developing goals and accomplishment of those goals for both team members and the department.
- Education: Bachelor's degree in accounting, finance, business administration or related field, preferred, Master’s degree in accounting, finance, business administration or related field
- Certification: n/a
- Experience: Minimum ten years of progressive experience in healthcare reimbursement. Minimum of five years in a leadership role.
- Strong understanding of revenue cycle, third party reimbursement mechanisms, and generally accepted accounting principles
- Superior analytical and problem-solving skills, with demonstrated intellectual and analytical rigor
- Demonstrated ability as a strong communicator and presenter in front of senior leadership team
- Strong customer focus and ability to work within a cross-functional team environment
- Ability to develop financial models and business cases to support operational objectives
- Leads, develops and mentors team through orientation and training, establishing goals/objectives, communication policies and discipline. Builds employee morale and engagement
- Advanced financial modeling, analysis, and reporting skills.
- Proficiency in Microsoft Office, particularly Excel (pivot tables, VLOOKUP, charts), PowerPoint, and Word.
- Excellent written and verbal communication skills, with the ability to explain complex financial information to non-financial audiences.
- Strong project management and organizational skills; ability to manage multiple priorities and deadlines.
- High attention to detail and a commitment to data integrity.
- Ability to collaborate with senior leaders and cross-functional teams to drive strategy and decision-making.
- Ability to lead, develop, and manage a team of financial analysts.
- Ability to work independently and exercise sound judgment in a fast-paced environment.
- Ability to foster innovation and continuous improvement within a team setting.
- Ability to translate financial data into actionable business insights.
- Ability to manage confidential information with integrity and professionalism.
- Eligibility for our Annual Incentive Plan, which offers the potential to earn a certain percentage amount of your base salary based on organizational performance. (For AIP eligible positions)
- Career Pathways to Promote Professional Growth and Development
- Various Medical, Dental, Pet and Vision options
- Tuition Reimbursement
- Free Parking
- Wellness Program Savings Plan
- Health Savings Account Options
- Retirement Options with Company Match
- Paid Time Off and Holiday Pay
- Community Involvement Opportunities