Senior VP and Chief Revenue Officer Job at Henry Ford Health
COMPANY OVERVIEW
About Henry Ford Health
Serving communities across Michigan and beyond, Henry Ford Health provides a full continuum of services – from primary and preventative care, to complex and specialty care, health insurance, a full suite of home health offerings, virtual care, pharmacy, eye care and other healthcare retail. With more than 33,000 valued team members, Henry Ford Health is also among Michigan’s largest and most diverse employers, including nearly 6,000 physicians and researchers from the Henry Ford Medical Group, Henry Ford Physician Network and Jackson Health Network.
Our Mission, Vision and Values
Our Mission:
We improve people’s lives through excellence in the science and art of health care and healing.
Our Vision:
We will be the trusted partner in health, leading the nation in superior care and value.
One of Michigan’s largest and most diverse employers
Deeply committed to diversity, equity, inclusion and justice
Research, Education and Training
- $100 million research enterprise
- Among top National Institutes of Health funded institutions in Michigan
- 2,000+ active research projects
- 4,000 medical students, residents and fellows trained annually
- $2.5 billion investment to construct new academic, medical and research center beginning in 2023
Leaders in Value-Based Care & Coverage
- Fully integrated insurance subsidiary, Health Alliance Plan (HAP) with six distinct product lines: Group-Insured Commercial, Individual, Medicare, Medicaid (through HAP Empowered Health Plan), Self-Funded and Network Leasing
- Only Michigan-based insurer to achieve 4.5 out of 5 stars for its Medicare HMO two years in a row and 4 stars or higher for both HMO and PPO each of the past three years from the Centers for Medicare and Medicaid Services (CMS)
- 650,000+ covered lives under value-based contracts: HAP membership + other value-based care arrangements
- 6 years of success in the NGACO model, currently participating in the MSSP Enhanced ACO model
- Full continuum of value-based and population health management services including care management, condition management, remote monitoring, mobile integrated health paramedic program, comprehensive integrated behavioral health program, embedded pharmacists, hospital at home and SNF at home programs and many others
- Enterprise-wide commitment to driving health equity within our populations
- Engaged in state-wide initiatives to advance technology-enabled solutions to address SDOH
Recognized for Clinical Excellence
- Henry Ford Medical Group: 1,900+ physicians and researchers in 40+ specialties
- Over 300 primary care providers in 50 locations
- 90 % of primary care practices are patient centered medical home designated
- HFMG PCPs available 24/7/365 on demand for virtual video visits
- Nation leading HEDIS metric performance with HTN control and HBA1c control in the top decile nationally
- Two Magnet® hospitals: awarded by the American Nurses Credentialing Center (ANCC), the gold standard in nursing excellence
- Level 1 Trauma Center
- Recognized for excellence in cardiology, cardiovascular surgery, neurology and neurosurgery, multi-organ transplants, cancer, orthopedics and sports medicine
- Created a 30-year agreement with Michigan State University to create a fully integrated academic health care partnership expanding opportunities in research, teaching and clinical care
Expanding Global Mission
- Three licensed hospitals: India and Saudi Arabia
- Tech start-up partnerships: Israeli technology sector
- Global Health Initiative: operating in 15 countries to improve the lives of underserved and vulnerable populations
Henry Ford Innovations
- Founded in 2012
- Vetting and prototype design for new inventions
- Product commercialization and in-depth market assessment
- Licensing agreements and tech transfer
- 6 spinoff companies
- 400+ invention disclosures
- 100+ patent applications
More information about Henry Ford Health can be found at: https://www.henryford.com/.
ROLE SUMMARY
Reporting to the System EVP, & Chief Financial Officer, the Chief Revenue Officer (CRO) provides leadership and direction and is responsible for the revenue cycle functions for all HFH. Of these many functions, the CRO will have direct oversight for the management of Henry Ford Health’s (HFH) Net Patient Revenue and associated System-wide revenue cycle, reimbursement, and managed care contracting functions.
CRO is responsible for strategic and systemic approaches that contribute to the capture, management, and collection of patient service revenue. Advises and oversees investments and changes in software applications, outsourcing vendors, recovery projects and other interventions to collect the net revenue associated with patient services. The CRO must be able to coordinate processes across the health system and to facilitate cooperation amongst diverse departments and business units reporting to other health system executives. Great opportunity for process improvement
In addition, CRO has responsibility of system contracting, third-party payer reimbursement, value-based reimbursement, and revenue integrity with the goal to optimize overall performance and design system/processes that alert HFH to changes to performance. This role is essential in collaborating with executive and medical group/CIN/ACO leadership in developing innovative approaches to growing market share through the strategic planning, organization, implementation, and financial measurement of managed care contracts with current and future prospective health insurers and employers.
Qualifications
- Collaborate with System and Business Unit leadership teams, including hospital, Medical Group, and IT leadership to achieve the vision and strategic direction for revenue cycle, reimbursement, system contracting and revenue integrity business functions.
- Plans, develops, and implements new systematic approaches to maximizing revenue, improve financial performance, generate cash flow, and improve operational efficiency.
- Responsible for centralized analysis and project management of Revenue Cycle, Reimbursement & Contracting performance improvement initiatives.
- Develop the organizational framework to adopt a metrics driven balanced scorecard for assessing revenue cycle and contract performance effectiveness in relation to industry benchmarks.
- Develop targeted strategies to improve patient satisfaction with the revenue cycle/ patient billing process.
- Facilitates a matrixed approach in the development and redesign of business processes. Ability to work effectively with the health system’s organizational structure in planning and conducting needs-assessment activities to implement business solutions that improve operational processes.
- Leads multi-disciplinary teams and committees pertaining to service and functional areas.
- Provide advisory and operational assistance in the acquisition, development, and implementation of revenue cycle business systems.
- Provides leadership and direction to the patient financial services function to ensure the efficient operation of all aspects of the revenue cycle. In doing so, monitors and reports on quality and cycle time measures/benchmarks for patient financial services.
- Provides leadership and direction to Henry Ford Health’s reimbursement and direct contracting functions to ensure that revenue reporting adheres to regulatory guidelines.
- Collaborates with Executive leadership to develop system contracting strategy and serve as a key contracting strategist to ensure HFH is well positioned for transition from volume to value-based reimbursement.
- Oversees all payer negotiations in collaboration with medical group/CIN leadership for pay-for-performance, bundled payments, shared savings/risk, and traditional fee-for-service arrangements, including evaluation of reimbursement terms, contract language, risk-based arrangements, and operational implications. Payor products include CMS MSSP, commercial, Medicare Advantage, Medicaid HMOs, Direct to Employer, and other governmental and international payors.
- Maintains expertise in reimbursement methodologies and regulatory changes as they apply to payor contracts.
- Oversees the development and execution of System Revenue Cycle, Contracting and Reimbursement playbook to ensure alignment with health system strategic priorities and achievement of department goals.
- Ensure completion of various financial forecasts including cost center salary and direct expenses, month-end financial reporting, receivable levels, cost center productivity and any long range and strategic plans for the department.
- Provides mentorship of Vice Presidents and others within the Revenue Cycle.
Qualifications
- Bachelor’s Degree in Finance or Health Care Administration, required. Master’s Degree and Certified Public Accounting experience preferred.
- Ten (10) years of progressive leadership experience in revenue cycle including experience with Managed Care Contracting, Reimbursement and Revenue Integrity.
- 5+ years of senior leadership experience preferred.
- Must have a thorough knowledge of financial management principles and policies
- Ability to motivate teams to produce quality materials with tight timeframes and simultaneously manage several projects.
Additional Details
This posting represents the major duties, responsibilities, and authorities of this job, and is not intended to be a complete list of all tasks and functions. It should be understood, therefore, that incumbents may be asked to perform job-related duties beyond those explicitly described above.
Overview
Under the leadership of President and CEO Robert G. Riney, Henry Ford Health is a
$6 billion integrated health system comprised of six hospitals, a health plan, and 250+ sites
including medical centers, walk-in and urgent care clinics, pharmacy, eye care facilities and
other healthcare retail. Established in 1915 by auto industry pioneer Henry Ford, the health system
now has 32,000 employees and remains home to the 1,900-member Henry Ford Medical Group, one
of the nation’s oldest physician groups. An additional 2,200 physicians are also affiliated with the
health system through the Henry Ford Physician Network. Henry Ford is also one of the region’s
major academic medical centers, receiving between $90-$100 million in annual research funding and
remaining Michigan’s fourth largest NIH-funded institution. Also an active participant in medical
education and training, the health system has trained nearly 40% of physicians currently practicing
in the state and also provides education and training for other health professionals including nurses,
pharmacists, radiology and respiratory technicians. visit HenryFord.com.
Benefits
Whether it's offering a new medical option, helping you make healthier lifestyle choices or
making the employee enrollment selection experience easier, it's all about choice. Henry
Ford Health has a new approach for its employee benefits program - My Choice
Rewards. My Choice Rewards is a program as diverse as the people it serves. There are
dozens of options for all of our employees including compensation, benefits, work/life balance
and learning - options that enhance your career and add value to your personal life. As an
employee you are provided access to Retirement Programs, an Employee Assistance Program
(Henry Ford Enhanced), Tuition Reimbursement, Paid Time Off, Employee Health and Wellness, and a whole host of other benefits and services. Employee's classified as contingent status are not eligible for benefits.
Equal Employment Opportunity/Affirmative Action Employer
Equal Employment Opportunity / Affirmative Action Employer Henry Ford Health is
committed to the hiring, advancement and fair treatment of all individuals without regard to
race, color, creed, religion, age, sex, national origin, disability, veteran status, size, height,
weight, marital status, family status, gender identity, sexual orientation, and genetic information,
or any other protected status in accordance with applicable federal and state laws.
Please Note :
blog.nvalabs.org is the go-to platform for job seekers looking for the best job postings from around the web. With a focus on quality, the platform guarantees that all job postings are from reliable sources and are up-to-date. It also offers a variety of tools to help users find the perfect job for them, such as searching by location and filtering by industry. Furthermore, blog.nvalabs.org provides helpful resources like resume tips and career advice to give job seekers an edge in their search. With its commitment to quality and user-friendliness, Site.com is the ideal place to find your next job.