Financial Controller - Healthcare

Brooklyn NY - Hybrid

$100,000 - $150,000

Our Client is seekeing a Healthcare Financial Controller will oversee and manage the financial operations of the healthcare organization, ensuring compliance with regulatory requirements and financial best practices. This individual will also be responsible for the integration and oversight of medical billing processes, ensuring accurate and timely billing, collections, and reimbursements. The ideal candidate will have strong accounting and financial analysis skills, a deep understanding of medical billing, coding, insurance reimbursements, and the healthcare revenue cycle.

Key Responsibilities:

Financial Management & Oversight:

• Manage the day-to-day financial operations of the healthcare organization, including budgeting, forecasting, financial reporting, and variance analysis.
• Prepare and analyze financial statements, balance sheets, income statements, and cash flow reports, ensuring alignment with healthcare industry standards and regulatory requirements.
• Lead financial audits, coordinate with external auditors, and implement recommendations for financial improvements.
• Develop and maintain financial controls to ensure the integrity and accuracy of all financial reporting.

Medical Billing & Revenue Cycle Management:

• Oversee all aspects of medical billing, including coding, claim submission, payment posting, and collections.
• Ensure compliance with healthcare regulations, insurance contracts, and government policies (e.g., Medicare, Medicaid).
• Manage the revenue cycle from patient registration to final payment, identifying and resolving any issues related to billing, coding errors, claim denials, or underpayments.
• Work closely with billing staff, insurance carriers, and healthcare providers to streamline and optimize the revenue cycle.
• Review insurance payer contracts and reimbursement rates, analyzing financial impacts and identifying opportunities for improving collections.

Team Leadership & Training:

• Supervise and mentor a team of financial and billing staff, providing training on medical billing procedures, regulatory changes, and best practices.
• Ensure that the team is up-to-date on industry developments, including changes in billing codes, payer requirements, and reimbursement schedules.
• Foster a culture of accountability, collaboration, and continuous improvement within the finance and billing teams.

Regulatory Compliance & Risk Management:

• Ensure compliance with federal and state healthcare laws, including HIPAA, the Affordable Care Act (ACA), and other relevant regulations.
• Stay informed on changes in healthcare laws, billing codes (CPT, ICD-10, HCPCS), payer rules, and reimbursement methodologies.
• Conduct regular audits of billing practices and financial records to mitigate risk and prevent fraud or compliance issues.
• Collaborate with legal and compliance teams to address any issues related to billing, payments, and insurance disputes.

Financial Reporting & Strategy:

• Provide regular financial updates to senior management, offering insights into revenue cycle performance, trends, and areas of concern.
• Analyze the impact of payer mix, payer contracts, and billing efficiency on the organization’s financial performance.
• Assist in the development of financial strategies to enhance profitability, cost containment, and operational efficiency.
• Prepare and submit necessary reports to government and healthcare bodies as required.

Qualifications:

Education & Experience:

• Bachelor’s degree in Accounting, Finance, Healthcare Administration, or a related field (required). Master’s degree or CPA is a plus.
• At least 5-7 years of experience in healthcare finance, with a strong background in medical billing, coding, and revenue cycle management.
• Proven experience in healthcare accounting, financial reporting, and audits.
• Familiarity with Electronic Health Records (EHR) systems, medical billing software, and financial management tools.
• In-depth knowledge of insurance billing processes, reimbursement structures, and healthcare payer systems (e.g., Medicare, Medicaid, private insurers).

Skills & Abilities:

• Strong understanding of healthcare regulations and compliance standards (HIPAA, ICD-10, CPT, HCPCS).
• Advanced proficiency in accounting software and Microsoft Excel, including financial modeling and reporting.
• Analytical mindset with the ability to interpret complex financial data and billing information.
• Excellent communication and interpersonal skills, with the ability to explain complex billing and financial information to non-financial staff.
• Strong leadership, organizational, and problem-solving abilities.
• Detail-oriented with the ability to multitask and meet deadlines in a fast-paced environment.