What are the responsibilities and job description for the Revenue Cycle Contract Manager position at Penn Medicine?
Description
Penn Medicine is dedicated to our tripartite mission of providing the highest level of care to patients, conducting innovative research, and educating future leaders in the field of medicine. Working for this leading academic medical center means collaboration with top clinical, technical and business professionals across all disciplines.Today at Penn Medicine, someone will make a breakthrough. Someone will heal a heart, deliver hopeful news, and give comfort and reassurance. Our employees shape our future each day. Are you living your life's work?
Entity - Corporate Services
Department- Physician Billing
Location -150 Monument Road, Bala Cynwyd, PA
Hours - M-F, Hybrid
Summary:
- The Revenue Cycle Contract Manager is responsible for managing all aspects of outsourcing contracts related to hospital and professional fee billing and collections. The primary focus of this position is to ensure that contracts are efficiently managed and effectively support the organization's revenue cycle goals.
Responsibilities:
- Contract Management:
- Develop and maintain a comprehensive catalog of all revenue cycle outsourcing contracts.
- Participate in contract negotiations to ensure favorable terms for the organization.
- Track contracts through legal and IT processes plus coordinate necessary approvals.
- Ensure accurate documentation of Statements of Work (SOW) and contract terms.
- Manage service level agreements (SLAs) and monitor contract compliance.
- Oversee the amendment process and update the contract management system accordingly.
- Track ongoing vendor compliance with required operational and security certifications (i.e. SOC2,PCI).
- Periodically evaluate vendors for corporate structure changes potentially impacting contract terms.
- Invoice Management:
- Verify appropriate rates on invoices and manage contract compliance items.
- Collaborate with Accounts Payable to ensure timely and accurate payment processing.
- Contract Management System Administration:
- Coordinate the implementation and management of the contract management system.
- Train staff on the use of the contract management system and provide ongoing support.
- Reporting and Analysis:
- Prepare reports and presentations on contract performance, compliance, and financial impact.
- Analyze contract trends and recommend opportunities for improvement.
- Collaboration:
- Work closely with cross-functional teams, including finance, legal, operations, and IT. Develop and maintain strong relationships with vendors and external stakeholders.
- Performs duties in accordance with Penn Medicine and entity values, policies, and procedures
- Other duties as assigned to support the unit, department, entity, and health system organization
Education or Equivalent Experience:
- Bachelor's degree. (Required)
- 5 years of experience in healthcare revenue cycle management, contract management or related field. (Required)
Skills/Abilities:
- Strong knowledge of healthcare billing, collections, and contract management best practices.
- Proficient in Microsoft Office Suite, contract management systems, and data analysis tools.
- Excellent communication, negotiation, and relationship-building skills.
- Strong attention to detail and organizational skills.
- Ability to work in a fast-paced, deadline-driven environment.
- Vendor experience preferred but not required.
Live Your Life's Work
We are an Equal Opportunity and Affirmative Action employer. Candidates are considered for employment without regard to race, ethnicity, color, sex, sexual orientation, gender identity, religion, national origin, ancestry, age, disability, marital status, familial status, genetic information, domestic or sexual violence victim status, citizenship status, military status, status as a protected veteran or any other status protected by applicable law.
