Job description / Role
• The Financial Director is responsible for the financial management of the organization.
• Presentation of financial results and insights to the Board
• Play a key role in the formulation of the business's strategy
• Responsible for overseeing and coordinating all revenue cycle activities with a goal of maximizing reimbursement in a cost-effective manner
• Work closely with other departments (HIM, Case Management, Information Technology, Nursing, and Ancillary departments) to streamline procedures that will help ensure correct billing to patients and payers in a timely manner, thereby expediting hospital receivables.
• Oversee work schedule and direct changes in priorities and schedules as needed to assure work is completed in an efficient and timely manner and to improve the department’s performance and service.
• Direct the selection, supervision and evaluation of staff.
• Ensure performance evaluations are conducted in a timely manner according to hospital policy and initiate disciplinary actions as warranted.
• Resolve grievances and other sensitive personnel matters.
• Oversee orientation and continuing education for all staff.
• Ensure mandatory and relevant training is provided to staff in a timely manner.
• Establish and maintain departmental policies and procedures.
• Communicate relevant information to other hospital departments.
• Establish controls and review mechanisms to ensure procedures are being followed correctly.
• Recommend policy changes to the Chief Financial Officer.
• Collaborate with Billing, Collection, and Patient Access Managers to plan, organize, and deliver regular staff meetings for the department.
• Assist with the development of budgets and monitoring of department operations to achieve goals within budget.
• Respond personally to concerns and/or complaints expressed by patients, visitors, hospital staff, and physicians in effort to support optimal operations and excellent customer service.
• Ensure compliance with relevant regulations, standards, and directives from regulatory agencies and third-party payers.
• Maintain appropriate internal controls for the safeguarding of cash.
• Follow and monitor compliance with hospital policies and standards.
• Develop, redesign, and monitor key performance indicators including payer mix, A/R, collection rates, adjustments, bad debt write off, estimated collections, appeal success rates, and other requested parameters.
• Maintains extensive knowledge of revenue cycle and regulatory requirements associated with governmental, managed care, and commercial payers.
• Serves as the subject-matter expert on regulatory, compliance, and legal requirements associated with medical billing and CMS.
• Ensures compliance with relevant regulations, standards, and directives from regulatory agencies and third-party payers.
• An Arabic Speaker with 10+ years' experience in a senior financial managerial position - Minimum 5 years of Revenue Cycle Management experience in a HealthCare/Insurance Company.
• Bachelor’s degree in Healthcare Administration, Business, Accounting, Finance or related field and three years of management-level experience in hospital revenue cycle with expertise in billing and collections.
• Thorough knowledge of patient financial services (PFS) processes and standards related to billing, collections, and cash posting.
• General knowledge of patient registration, finance, and data processing.
• Knowledge of regulatory requirements related to patient accounting, including a solid understanding of Medicare, Medicaid and managed care processes.
• Ability to work and communicate effectively with a diverse group of people including other department managers, staff, physicians, patients, and the public.
• Ability to read, analyze and interpret financial reports, contracts, and other legal documents.
• Outstanding ability to work independently to achieve results. Often, there is no precedent for and little help in carrying out assigned tasks.
• Must originate, plan, adapt and invent to accomplish tasks.
• Ability to set and maintain priorities when dealing with multiple demands and interruptions.
• Strong analytical and problem-solving skills.
• Dedication to the development of others and willingness to coach and mentor people as necessary to promote their personal and professional growth.
About the Company
The Middle East Executive Group has become the first choice for industry professionals wanting to work in the Gulf region.
We understand exactly how supply chain performance and sales performance impacts the bottom line and top line of product led businesses and we have the experience, network & expertise to match skilled professionals with exciting new roles that suit their experience, passion and drive in this highly strategic industry.
Our specialist teams internally are;
- Commercial Management & Sales
- Supply Chain & Logistics
- Strategic HR
The industries we focus on are;
- 3PL / Freight Forwarding
- Food & FMCG
- Medical & Pharmaceutical