Director, Physician Contracting Jobs in Wall 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 Director of Physician Contracting, under the direction of the Vice President of Physician Contracting, is responsible for conducting contract due diligence and negotiations related to physician practices and partnership acquisition across the Hackensack Meridian Health (HMH) network. This includes reviewing practice valuations, conducting practice due diligence, overseeing the production of business financial analysis and reporting to support contract negotiations and final term sheet development. Identifies opportunities to increase efficiency and effectiveness in securing physician partnerships. Oversees analysis and reporting and the production of practice acquisition recommendation materials to TELT for final approval to secure Letter of Agreement (LOA). Negotiates contract renewals with physician practices and performs ongoing contract maintenance and problem solving. Partners closely with Legal on Physician contracts. Collaborates with Physician Services Operations (PSD) on plans to ensure Practice onboarding plan is successfully executed.

**This is a Hyrid position**   You would be responsible to oversee 2 Analysts. 

Responsibilities

A day in the life of a Director of Physician Contracting at Hackensack Meridian Health includes:

• Business Plan Development: Partners closely with all key stakeholders within HMH Business Development Strategy, Physician Enterprise Leadership, Corporate Legal, Compliance, Finance and HR to develop appropriate business plans and term conditions for employed physicians & physician practice acquisitions.
• Assists the Vice President of Physician Contracting in collaboration with Business Strategy Development and Sr. Leaders within CTS Physician Services to develop appropriate business plans and term conditions for employed physicians & physician practice acquisitions. Conducts financial & legal due diligence process. Explores and researches new avenues to improve physician satisfaction. Demonstrates ability to analyze current business status, opportunities and outcomes and if necessary, identify/implement need(s) for course correction.
• Contract Negotiation and Management: Manages practice acquisition negotiation and contracting of new hires, PSA and all contract renewals. Partners closely with all key stakeholders within HMH Business Strategy, Physician Enterprise Leadership, Corporate Legal, Compliance, Finance and HR to assure timely completion and renewals. Serves as a liaison between the physicians and the Corporate Legal Department in preparation and execution of new Physician contract agreements and amendments.
• Contract Financial & Legal due diligence process. Performs contract due diligence and negotiation related to physician practices and partnership acquisition including review of practice valuation and due diligence review to producing business financial analysis to support contract negotiations and final term sheet development.
• Practice/Business Contract feasibility: Leads and manages the due diligence on practice valuation to support the evaluation and recommendation of Practice acquisition.
• Explores and researches new avenues to improve physician satisfaction. Manages the analysis of current business status, opportunities and outcomes and if necessary, identify/implement need(s) for course correction.
• Oversees analytical support staff (Business Analyst) for clinical integration decision making and evaluation of cost/benefit in order to identify strategies to improve value proposition.
• Manage the production of reporting and analysis for key corporate meetings - TELT Business review, Financial Review, financial and performance communications.
• Data Management and Analytics: Review the tracking, analysis and reporting on relevant data and metrics as needed and/or requested. Develop recommendations and/or implement actions or process improvement as appropriate.
• Collaborates effectively with key stakeholders:
  • Works with Business Development team to establish and facilitate relationships between primary and specialty care physicians, physician organizations, surgeons and other physicians for HMH's service lines.
  • Pursues collaborative relationships across the system to support growth, physician alignment and beneficial business opportunities.
  • Works in collaboration with Sr Leaders in CTS and Physician Practices on recruitment alignment and retention strategies for service line surgeons and other related physicians.
  • Partners across system matrix in order to complete various financial and market data analysis needed for business plan development.
  • Coordinate and support medical staff development plans. Works with Regional and CTS Presidents, Senior Leaders within Physician Services to establish physician recruitment goals. Ensures plans reflect growth, replacement clinical, service line, and academic needs. Coordinates implementation and tracks progress.
  • Partner with the Business Strategy team to lead structured, analytically rigorous approach to identifying and evaluating attractive, strategically coherent opportunities to strengthen ambitious position and performance through internal as well as external initiatives.
• Networks and build internal, community and regional relationships, to leverage clinical and operational expertise across the continuum of care in support of clinical integration.
• Develop and manage a high performance internal team in support of new Physician contracts.
• Other Duties as Assigned: Complete all other assigned duties and projects in a timely fashion.
• Adheres to HMH Organizational competencies and standards of behavior.

Qualifications

Education, Knowledge, Skills and Abilities Required:

• Bachelor degree in Health Care Administration, Business Administration or other related discipline.
• Minimum of 3 or more years of experience negotiating physician contracts.
• Knowledge of legal constraints, risk management, due diligence process, financial options, etc.
• Strong capability in strategy development, including meaningful analytical tools and methodologies; ability to develop analytically rigorous, commercially sound new business recommendations and articulate clear and compelling business discernments.
• Strong EQ and Relationship Management.
• Strong written and verbal communication skills.
• Strong business analysis and financial skills.
• Strong Analytical Experience.
• Legal Background - Experience with Contracts.
• Highly analytical and sharp problem solver.
• Experience and ease working in matrixed environments.
• Creative thinker that is continuously able to question the status quo and improve.
• Ability to influence and motivate change in the team/organization.
• Ability to work independently to develop and execute Business plans that achieve health system goals, milestones and targets.

Education, Knowledge, Skills and Abilities Preferred:

• Practice management experience a plus.

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.