Senior Director, Patient Financial Services (Backend) Corporate East 42nd Street-Full-Time Days

Position Overview

Senior Director Patient Financial Services for the Mount Sinai Health System (MSHS) is responsible for hospital-based Billing and Accounts Receivable performance across the medical center. The Senior Director will report to the Vice President Patient Financial Services of the MSHS. The Senior Director is a key leader within the Patient Financial Services Management team, responsible for overseeing teams within the Patient Accounts department. This includes Billing, Cash application and reconciliation; Denial management and all aspects of Third Party follow-up. The Senior Director is charged with ensuring accurate and timely billing, ensuring quality and productive handling of the Accounts Receivable, fostering and maintaining relationships with third party payers, and protecting and optimizing cash collections. The role plays a critical part in driving operational excellence, mentoring teams and supporting the financial health of the organization.

Responsibilities

• Direct daily operations of the teams under their control , and continually work towards reducing days in Accounts Receivable, increasing cash collections, reducing bad debt decreasing denials and eliminating write offs due to process issues.
• Ensures workflows align with revenue cycle best practices to reduce claim denials, improve cash collections and enhance clean claim rates.
• Develop and implement policies and procedures that promote efficiency, data integrity, and regulatory compliance (e.g. NYS, CMS).
• Monitor key performance indicators (KPI) such as initial and final denials, payer performance, staff productivity and quality touches, aged AR trends and billing lags.
• Collaborate with department such as coding, IT, clinical service areas and appeals to ensure seamless end-to-end revenue cycle performance.
• Lead, coach and mentor a team of managers, supervisors, and account representatives; oversee training, performance evaluations, and staff development.
• Maintain strong internal controls and audit readiness for all PFS processes.
• Supports organizational goals around cash collections and aged Accounts Receivable
• Utilize revenue cycle and EHR systems.
• Organizes routine meetings with health system business leaders and managed care to review payer issues and denials.
• Builds effective, collaborative relationships with key stakeholders across departments (e.g., DTP, Human Resources, Managed Care, Finance, and clinical departments)
• Collaborates with finance, managed care and DTP contributors to develop and operationalize optimal performance.
• Provides leadership and supports governance processes to result in effective, efficient, standardized, and compliant practices across the MSHS.
• Investigates and resolves denials and coordinates efforts to assist senior revenue cycle leaders with development of innovative strategies and solutions.
• Establishes and maintains strong working relationships with Revenue Cycle leaders, key stakeholders, hospital and department leaders and fosters a strong working relationship with key strategic partners.
• Maintains strong understanding of revenue performance metrics and payer mix and leads team in building plans to support operational departments to achieve best practice performance through strong analytical capabilities, process improvement identification, and technology enhancements.
• Maintains strong customer relationships with key strategic partners.
• Ensures appropriate functional strategic partners are engaged throughout the process.
• Monitors and provides regular reporting to senior management on key performance metrics (e.g., actual versus expected results for financial targets)
• Brings developing issues and recommended actions to the attention of senior leadership and governance committees.
• Develops, maintains, and ensures compliance with standardized policies, processes, and programs throughout the MSHS.
• Develops a high-performing team as measured through the achievement of benchmark process outcomes, audit and compliance results, financial goals, and employee satisfaction.
• Stays current with government regulations regarding patient access and insurance.
• Establish goals, objectives, and budgets for assigned areas, and monitors/manages to ensure achievement once approved.
• Ensures all HIPAA privacy and security standards are adhered to.
• Conforms to the established policies/ procedures/ processes/ Standards of Behavior and ensures assigned staff do so as well.
• Performs other duties as assigned.

Qualifications

Education

• Bachelor’s degree in finance or Business-related field; Master’s preferred

Experience

• 10 years of progressively responsible experience in patient accounts that includes experiences in third party billing rules, follow-up techniques, denial management and team building
• Extensive demonstrated success in a finance department in a large not-for-profit/academic health system facility or corporate environment.
• Excellent interpersonal skills, experience with making presentations to, and dealing with senior management and other C‑suite leaders.
• Financial management skills, including the ability to analyze financial data for operations, budgeting, auditing, forecasting, accounting, AR and reserve analysis, market analysis, staffing, and financial reporting.
• Strong leadership skills to motivate cross‑departmental teams? performance towards excellence using team concepts and consensus‑building management styles.
• Advanced/ effective interpersonal, written/ verbal communication, and presentation skills, along with the ability to communicate complex finance concepts to others without a finance background.
• Demonstrated ability to engage in positive, powerful persuasion with individuals or groups with diverse opinions and/ or agendas, leading to outcomes that meet identified goals.
• Ability to analyze and resolve complex problems necessary to develop and administer multifaceted revenue processes, regardless of whether issues originate in an area under direct or indirect control.
• Ability to enlist cooperation and build teams committed to carrying out initiatives in environments that may be resistant to change and not under the incumbent’s direct authority.
• Ability to translate key performance indicator levels into a finance‑based business case, then design, implement, and manage more effective/ efficient processes.
• The ability to maintain a high level of positive energy/ creativity during periods of elevated work demands.
• Ability to prioritize multiple objectives in a rapidly changing environment and deliver quality outcomes.
• Ability to develop and maintain effective relationships at all levels throughout the organization.
• Strong Leadership skills.

Working Conditions

• Corporate office environment in an academic health system.

518 - PFS 633 Third Avenue - MSH, Mount Sinai Hospital

Equal Opportunity Employer

The Mount Sinai Health System is an equal opportunity employer, complying with all applicable federal civil rights laws. We do not discriminate, exclude, or treat individuals differently based on race, color, national origin, age, religion, disability, sex, sexual orientation, gender, veteran status, or any other characteristic protected by law. We are deeply committed to fostering an environment where all faculty, staff, students, trainees, patients, visitors, and the communities we serve feel respected and supported. Our goal is to create a healthcare and learning institution that actively works to remove barriers, address challenges, and promote fairness in all aspects of our organization.

Compensation

The Mount Sinai Health System (MSHS) provides salary ranges that comply with the New York City Law on Salary Transparency in Job Advertisements. The salary range for the role is $169,095 - $253,643 Annually. Actual salaries depend on a variety of factors, including experience, education, and operational need. The salary range or contractual rate listed does not include bonuses/incentive, differential pay or other forms of compensation or benefits.