Manager, Physician Pay & Planning Jobs in Edison at Hackensack Meridian Health

Overview

Our team members are the heart of what makes us better.

At Hackensack Meridian Health we help our patients live better, healthier lives — and we help one another to succeed. With a culture rooted in connection and collaboration, our employees are team members. Here, competitive benefits are just the beginning. It’s also about how we support one another and how we show up for our community.

Together, we keep getting better - advancing our mission to transform healthcare and serve as a leader of positive change.

The Manager of Physician Pay & Planning reports to the Director of Physician Pay & Planning in the corporate finance team and provides operational support to the Hackensack Meridian Health (HMH) Network. Coordinates plans for improved accuracy and timeliness of physician contractual compensation and contractual reporting. Performs due diligence and planning to support growth strategies. Responsible for key compensation and productivity budgeting. Key involvement in various Taxpayer Identification Number (TIN) reorganization efforts. This position leads and coordinates compensation and productivity benchmarking, interpretation of contracts, financial analysis, and preparation and review of quarterly variable compensation. Complexities include the execution of multiple contracts encompassing approximately 1,500+ physicians and mid-level providers. Completes and/or reviews monthly and quarterly complex compensation analysis and communicates independently with Chairmen and Physicians for approvals of payments. Works with their Director and the Legal department to review and comment on all HMH physician contracts to ensure consistency in language and methodology of all financial terms. Offers solid opinions with justification and follow-up. Provides budgeting and monitoring of monthly financial performance for HMH, as well as assisting in Regional and Network Service Line (NSL) reporting.

*This is a Hybrid position - Once a month in Edison - additional days as needed!

Position is overseeing 4 people

Responsibilities

A day in the life of a Manager of Physician Pay & Planning at Hackensack Meridian Health includes:

• Ensures maintenance of detailed contract tracking and compensation monitoring using the HMH Enterprise Resource Planning (ERP) system (i.e., PeopleSoft, Workday) and other Network tools.
• Works with Director and/or VP of Strategy and/or Planning and legal department to develop, modify, benchmark, and refine physician and related entity contracts, including: reviews and comments on contracts as appropriate; offers solid opinions with justification and follow-up; performs in-depth analysis; interpretation of contracts; and financial analysis.
• Coordinates Physician Compensation and Lease reconciliation process for the Network, including the Physician Division (PD) Site Controller and other Analysts. Will ensure timely, complete, and accurate physician compensation payments for provider fixed and variable compensation.
• Coordinates the execution and communication of new employment agreement financial terms, amendments, and professional service agreements;
• Ensure all requirements and needed documentation related to payments are contractually appropriate;
• Approves all payments of variable compensation or specialty payments before they are submitted to Administrators for processing of payment.
• Coordinates education of staff, via the Site Controller, on protocols for compensation and contract issues, and monitors compliance with those protocols.
• Acquires the due diligence and planning for new acquisitions. Works closely with the Director as well as Business Development/Strategy leaders across the HMH Network, in the development of profit and loss statements for the acquisition of new business and programs.
• Works with the PD Site Controller, performing planning functions, to ensure consistency across the Network.
• Prepares and ensures completion of all necessary support documentation, including but not limited to Profit and Loss (P&L), Phase 1s, and benchmarking to be presented at a monthly meeting for approval.
• General Finance and Accounting: Ensures accounting for all Variable Compensation arrangements is recorded in accordance with the contract Generally Accepted Accounting Principles (GAAP). Works in conjunction with the PD Site Controller to ensure physician salary and expense analysis is accurate; assists as assigned.
• Assists in the creation of automation of provider compensation to improve accuracy and efficiency. Work with the Dir, Physician Systems & Reporting, and related Network leaders to accomplish this and modify on an ongoing basis.
• In conjunction with the Director, takes a coordination role in the development of operating budgets for the PD of the Network, with full ownership of Provider compensation and New Business budgeting and tracking.
• Assists in budget education sessions for Regional practices, analyzes, and validates budget assumptions. Ensures provider compensation and related volumes are calculated correctly.
• Compiles statistical, Full-Time Equivalent (FTE), and other analytics as needed for monitoring and communicating performance. Ensures all benchmarking data is accurately loaded into the HMH financial system (i.e., Axiom) and/or AI Chat (i.e., Ekam) as it relates to productivity and compensation benchmarking.
• Assumes an active role in analyzing and exploring means of reducing PD operating costs and increasing revenues based on knowledge of market trends, financial reports, and operating procedures.
• Manages a team of financial analysts, including oversight of annual performance evaluations, hiring, and/or disciplinary actions as needed and appropriate.
• Other duties and/or projects as assigned.
• Adheres to HMH Organizational competencies and standards of behavior.

Qualifications

Education, Knowledge, Skills and Abilities Required:

• Bachelor's degree in Accounting or Finance.
• Minimum of 7 years of management experience in accounting, finance, revenue cycle experience in the healthcare industry, with a minimum of 3 years' experience/concentration with large medical group(s), including physician compensation, planning, benchmarking, and contracting administration experience
• Unique skill set with the ability to understand thorough knowledge of Physician contracting and benchmarking, knowledge of physician revenue cycle, including Current Procedural Terminology (CPT) codes and related modifiers; charging/billing/cash posting methodologies, as well as an understanding of general accounting principles.
• Advanced proficiency in using technology and computer skills such as the Google Suite of applications, Microsoft Office applications, Workday, Strata, EPIC, other Part B Billing Systems, Axiom Budgeting Systems, Report writing, etc.
• Strong interpersonal, team, and organizational skills.
• Ability to establish effective working relationships with Senior Management and Staff at all levels of the organization.
• Hands-on Working Manager.
• Excellent written and verbal communication skills.

Education, Knowledge, Skills and Abilities Preferred:

• Master's of Business Administration (MBA).

Licenses and Certifications Preferred:

• Certified Professional Accountant (CPA)

If you feel that the above description speaks directly to your strengths and capabilities, then please apply today!   

Compensation
Starting at $153,732.80 Annually

HMH is committed to pay equity and transparency for our team members. The posted rate of pay in this job posting is a reasonable good faith estimate of the minimum base pay for this role at the time of posting in accordance with the New Jersey Pay Transparency Act and does not reflect the full value of our market-competitive total rewards package.

The starting rate of pay is provided for informational purposes only and is not a guarantee of a specific offer. Posted hourly rates may be stated as an annual salary in the offer and posted annual salaries may be stated as an hourly rate in the offer, depending on the level and nature of the job duties and credentials of the candidate. The base compensation determined at the time of the offer may be different than the posted rate of pay based on a number of non-discriminatory factors, including but not limited to:

• Labor Market Data: Compensation is benchmarked against market data to ensure competitiveness.
• Experience: Years of relevant work experience.
• Education and Certifications: Level of education attained, including specialized certifications, credentials, completed apprenticeship programs or advanced training.
• Skills: Demonstrated proficiency in relevant skills and competencies.
• Geographic Location: Cost of living and market rates for the specific location.
• Internal Equity: Compensation is determined in a manner consistent with compensation ranges for similar roles within the organization.
• Budget and Grant Funding: Departmental budgets and any grant funding associated with the job position may impact the pay that can be offered.

Some jobs may also be eligible for performance-based incentives, bonuses, or commissions not reflected in the starting rate. Certain positions may also be eligible for shift differentials for work performed on evening, night, or weekend shifts.

In addition to our compensation for full-time and part-time (20+ hours/week) job positions, HMH offers a comprehensive benefits package, including health, dental, vision, paid leave, tuition reimbursement, and retirement benefits.

HACKENSACK MERIDIAN HEALTH (HMH) IS AN EQUAL OPPORTUNITY EMPLOYER

All qualified applicants will receive consideration for employment without regard to age, race, color, creed, religion, sex, sexual orientation, gender identity or expression, pregnancy, breastfeeding, genetic information, refusal to submit to a genetic test or make available to an employer the results of a genetic test, atypical hereditary cellular or blood trait, national origin, nationality, ancestry, disability, marital status, liability for military service, or status as a protected veteran.

Our Network

Hackensack Meridian Health (HMH) is a Mandatory Influenza Vaccination Facility

As a courtesy to assist you in your job search, we would like to send your resume to other areas of our Hackensack Meridian Health network who may have current openings that fit your skills and experience.