Mount Sinai Careers
FINANCIAL ANALYST I - DEPARTMENT OF OBGYN
The Mount Sinai Health System
DEPARTMENT OF OBGYN, #2250570
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The Mount Sinai Health System’s commitment to excellence extends beyond delivering world-class health care. The System’s ongoing success is dependent upon our highly motivated, nonclinical professionals working to improve business operations. Our leadership team is driven to provide exceptional service by cultivating a workforce that is dedicated to upholding Mount Sinai’s mission of delivering innovative, breakthrough medicine with compassion and integrity.
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The position reports directly to the Finance Director of OB/GYN and provides support as it relates to overseeing over all aspects of the Department of OB/GYN Finance and Revenue Cycle operations including accomplishment of financial objectives, providing overall leadership, financial growth, budgeting and performance of all aspects of FPA goals set by the Director of Finance and the Chairman.
This position is responsible for providing direction in the areas of Finance as it relates to the FPA, Professional Collections, Revenue Enhancement, Information Systems, Budgeting, Financial Reporting, Billing and Charge Capture.
A key member of the Department of OB/GYN Strategic Planning group, the Financial Analyst will directly support the Director of Finance in defining and developing various business plans and identify the resources necessary to implement them in order to accomplish the group’s strategic and operating plans.
Duties and Responsibilities:
- Financial oversight for Department of OB/GYN including inpatient and FPA practices, divisional finances, revenue cycle across Department;
- Establish, maintain, and enhance financial management discipline/ethic which not only ensures that financial assets are properly managed and accounted for, but was also responsive, timely, communicative, and resilient in the face of rapid growth
- Monitor and improve financial structures to appropriately respond to the financial needs of the group;
- Identify, minimize and contain financial and operational risk;
- Align physician compensation with the revenue cycle and goals agreed upon by Department Chair and Chief Administrative Officer;
- Expense management through continuous rightsizing to ensure staffing levels aligned with variations in growth
- Set annual goals for revenue cycle performance and report departmental performance based on national benchmarks to the Finance Director, Department of OB/GYN governance committees, clinical chair and administrator as requested.
- Routinely conduct payer trend analysis to ensure optimal reimbursement, identify issues, and communicate findings to appropriate organizational leadership.
- Provide educational sessions for staff on insurance verification, and classification to assure appropriate insurance registration and collection of time of service payments.
- Ensure compliance with federal and state laws specifically pertaining to the revenue cycle by analyzing internal policies and implementing appropriate changes.
- Provide guidance and billing updates to FPA practice managers, front desk supervisors, billing managers, coder supervisors and reception supervisors.
- Provide timely communication on changes in third party payer requirements / billing policies to appropriate personnel throughout the organization.
- Participate in and support a periodically scheduled Revenue Cycle external audit process to prevent internal control weaknesses and to ensure an independent and objective evaluation of the operation.
- Manage a yearly fee schedule analysis for all MDs. Include a financial impact analysis
- Monitor, oversee and assess all new and existing offsite contract agreements between the Department and other outside parties.
- Responsible for preparing and monitoring all Departmental annual budgets and compliance with budget guidelines.
- Financial oversight and reconciliation of the FOJP initiative
- Performs other related duties
Education and Experience:
- Bachelors Degree in business or health care administration or related field. Insurance law, CPT & ICD-9 coding, and physician billing knowledge and continuing education courses extremely helpful
- 3-5 years work experience in a large, multi-specialty physician group practice or faculty practice plan environment dealing with all aspects of Departmental Finances and Revenue Cycle Operations
- Billing experience in a complex academic setting as well as knowledge of the functions and use of IDX and EPIC highly desirable
Do you share our dedication to extraordinary service and have what it takes to wear the badge? Apply now!
Over 35,000 employees strong, the mission of the Mount Sinai Health System is to provide compassionate patient care with seamless coordination and to advance medicine through unrivaled education, research, and outreach in the many diverse communities we serve.
Formed in September 2013, The Mount Sinai Health System combines the excellence of the Icahn School of Medicine at Mount Sinai with seven premier hospital campuses, including Mount Sinai Beth Israel, Mount Sinai Beth Israel Brooklyn, The Mount Sinai Hospital, Mount Sinai Queens, Mount Sinai West (formerly Mount Sinai Roosevelt), Mount Sinai St. Luke’s, and New York Eye and Ear Infirmary of Mount Sinai.
The Mount Sinai Health System is committed to the tenets of diversity and workforce that are strengthened by the inclusion of and respect for our differences. We offer our employees a highly competitive compensation and benefits package, a 403(b) retirement plan, and much more.
The Mount Sinai Health System is an equal opportunity employer. We promote recognition and respect for individual and cultural differences, and we work to make our employees feel valued and appreciated, whatever their race, gender, background, or sexual orientation.