472 N. McLean Blvd., 2nd Floor Elgin, IL 60123-3274
Director of Payor Contracting
Seeking a Director of Payor Contracting focus on supervision & direction of the contracting and payer relations team. Responsibilities will include: full life cycle of contracts, manage the contracts database; participate inthe development of contracting strategy, serve as a resource for other departments; assist in the resolution of billing issues; project management;coordinating with other departments
Responsible for the development and maintaining contracting strategy for the organization in conjunction with sales
Work with senior leadership on the development and execution of complex payor contracting strategies to support the development of operational objectives.
Lead and drive project management, analysis of data, and strategic contract performance improvement initiatives to ensure that contractual terms are negotiated and ultimately met.
Use, create, and synthesize data to develop and drive internal contracting and departmental strategies.
Conduct analyses, management, accounting and budgeting of all payor contract agreements.
Serves as the third-party payer policy and reimbursement subject matter expert for acquisitions and development of new services.
Communicates with third party payors upon acquisition of clinics in order to either include them into existing contracts OR leverage their contracts for providers.
Establish effective lines of communications between Payers and Revenue Cycle in order to maximize contract effectiveness and ease of administration.
Negotiate settlements and resolves disputes with Payors.
Coordinates efforts to evaluate, prioritize, and resolve business units’ requests for assistance regarding payer agreements
Negotiates terms to support favorable performance under total cost of care and other highly collaborative arrangements. Researches emerging trends, evaluates opportunities, and provides recommendations for participation in health plan programs and insurance products. Advocates on behalf of business units for preferred financial terms, operational processes, and promotes administrative simplification with health plans. Promotes consumer friendly pricing strategies achievable within health plan payment methodology logic.
Review and analysis of new and renewing contracts, including contract modeling.
Proactively track and report all contracting efforts and the strategy at large. Conduct regular status updates with core team and provide management with a clear sense of progress and understanding of any marketplace changes (major insurance, network and reimbursement issues, changes in legislation or in guidelines at the federal levels) during the course of the performance year.
Required/Preferred Education/Experience/Specialized Skills/Certification:
Bachelor’s degree in business administration, economics, finance, clinical science, or other related field required
Master’s degree in health administration, business administration, economics, finance, or other related field preferred
Five (5) years of management experience in medical group fee-for-service, shared risk and global risk HMO, PPO and ancillary services negotiations and contracting experience, including strong knowledge of legal and financial issues.
Strong financial modeling and analytic skills and experience overseeing this function in the a multi-state group setting.