Day Shift - 7.5 Hours (United States of America) Key Responsibilities: 1. Contract Management: o Perform full life-cycle Contract Management for a portfolio of managed care contracts o Develop administrative and technical contracting strategies through development, negotiation, implementation of terms, and monitoring contractual agreements on behalf of the Richmond University Medical Center and Richmond Health Network o Review, interpret, analyze, manage, negotiate complex agreements, resolve contractual issues, and ensure adherence to all contract language, financial guidelines, and parameters o Ensure compliance with contract terms and conditions. o Monitor and analyze contract performance, addressing any issues or discrepancies. o Develop and maintain processes to provide timely notification of critical contract events (e.g., renewals, termination and due dates contained within the agreements) 2. Financial Oversight: o Develop and implement strategies to maximize reimbursement and minimize denials. o Monitor financial performance, including budgeting, forecasting, and variance analysis. o Collaborate with the finance department to ensure accurate billing and coding practices. o Track and maintain financial performance and status for all contracts to monitor and coordinate financial analysis of payer contract performance and modeling projections 3. Operational Leadership: o Provide direction and supervision to assigned department staff in areas of contracting, contract management and provider relations o Assist in producing and disseminating contract information to all relevant departments, identify and resolve problems with contracts regarding billing, claims payment, scheduling, registration, credentialing, service development, care management, and noncompliance. o Lead and manage the managed care department, including hiring, training, and performance evaluation of staff. o Develop and implement policies and procedures to streamline managed care operations. o Coordinate with clinical and administrative departments to ensure seamless patient care delivery. o Support the entire contract process and closely collaborates with internal departments to ensure staff are informed of new contracts, changes to existing contracts and updates to the medical and billing policies of the payers. 4. Quality and Compliance: o Ensure compliance with all relevant regulations, standards, and guidelines (e.g., CMS, state regulations). o Implement quality improvement initiatives to enhance patient care and operational efficiency. 5. Relationship Management: o Serve as the primary liaison between the hospital and MCOs, insurance companies, and other payers. o Foster positive relationships to enhance collaboration and problem-solving. o Represent the hospital in managed care meetings and negotiations o Act as a liaison with Patient Financial Services, physician offices and health plans to resolve contractual issues and ensure compliance with negotiated contractual terms 6. Strategic Planning: o Develop and execute strategic plans to improve managed care operations and support the hospital's overall goals. o Stay abreast of industry trends and best practices, implementing changes as needed. o Participate in strategic planning and decision-making processes at the executive level. Qualifications: • Bachelor's degree in healthcare administration, Business Administration, or a related field (Master's degree preferred). • 5+ years' contracting experience with hospital, clinic, physician, and or health system require. • 3+ years' experience with medical insurance company, MSO, IPA, TPA, preferred • Strong knowledge of managed care principles, healthcare regulations, and reimbursement methodologies. • Excellent negotiation, communication, and interpersonal skills. • Proven ability to analyze financial data and develop strategic plans. • Leadership skills with a track record of building and managing effective teams. • Proficiency in healthcare management software and Microsoft Office Suite. Salary Range: $170,000 - $180,000