This Net Revenue position will oversee financial process for our $3bn annual hospital net patient revenues and related $2bn accounts receivables. The person we hire will lead monthly efforts in setting accounts receivable reserve estimation methodologies, ensuring its accuracy when calculating and updating our general ledger system. They will monitor and quantify the financial impacts of various events (e.g., managed care settlements, Epic pricing updates or contract evaluations, or any other material financial transactions such as opening of new centers or acquisitions) and communicate the summarized findings to financial leadership (CFO org) within hospital entities as well as Corporate Finance. They will have significant involvement in annual financial audits, financial reporting, budgeting, and preparation of monthly Board meeting package.
In order to be successful, the candidate must have strong US GAAP knowledge, and in depth understanding of hospital billing revenue recognition process. Crowe (Kodiak) RCA (Revenue Cycle Analytics) software knowledge is a strong preference. This candidate needs to possess detailed knowledge on functionalities of RCA system or equivalent, and provide key, data-driven insight to larger organization, and address any questions that come from the hospital CFOs and/or Revenue Cycle Management and Managed Care department leaders, when reviewing and valuing specific patient accounts. The candidate must possess excellent written and verbal communication skills, analytical mindset, and a drive to success.
Hiring Manager’s candidate preferences include:
• Experience in hospital revenue estimation and month-end financial reporting (must)
• Background in hospital revenue cycle (must)
• Hands-on knowledge of Crowe RCA system
• Strong understanding of US GAAP
This is a high visibility position that requires monthly coordination of AR reserve estimation methodology with various CFOs and DOFs at hospitals. Due to the recurring nature of the responsibilities as well as set deadlines related to finance calendar, it is easy to track the productivity of the person filling this role.
The person will report to Assistant Director of Corporate Finance, who oversees AR / revenue area. The key metrics we use to measure productivity of this position includes the following.
(1) Reconciliation of revenue and AR data across systems (spread between Day 1 – Day 15)
(2) Administering RCA system for pre-close and close activities (Day minus 5 through Day plus 10)
(3) Presentation during pre-close call (last day of the month) and/or AR close call (Day 4)
(4) Facilitate Large Balance Account reserve (LBA) discussions and set appropriate reserves for all accounts (Day 1 through 7)
(4) Participate in all hospital close calls or review the slides provided by hospital CFOs / DOFs.
(5) Review sections of CFO review material / board package related to revenues (Day 11 & 12)
(6) Prepare or review a set of audit support documents ("E series") – annual responsibilities
(7) Understand and influence revenue budget annually – annual responsibilities
(8) Lead various revenue projects such as Epic re-stamping, RCA upgrade / cloud migration, various logical testing of sql codes – long-term projects
The candidate must be able to work on-site 5 days a week. Typical work hours are between 8:30am - 5:30pm.