Fredericksburg, Virginia
Morristown, New Jersey
Fuquay Varina, North Carolina
Fredericksburg, Virginia
United States - Nationwide
California
Fredericksburg, Virginia
Posted: 07-Feb-25
Location: Dallas, Texas
Categories:
Internal Number: 24008146-1
JOB SUMMARY
The Practice Administrator 3 is accountable for strategic and daily operations of a practice, or potentially many practices, while stabilizing the daily goals of the practice(s) with the larger strategic vision of the Group to drive results in practice performance in all areas of Health, Experience, Affordability, Alignment and Growth. Practices may be either primary or specialty care services arenas. This position is accountable for all practice areas including: revenue cycle, billing, patient experience, human resources, budgeting, financial analysis, clinical workflows, and recruitment. This role typically manages the following range of clinics, providers and staff:
5+ Clinics/11+ Providers/40+ Staff
ESSENTIAL FUNCTIONS OF THE ROLE
- Ensures practice workflows begin and end with consistent and exceptional quality care for the patient.
- Achieves system goals by maintaining workflows that help, measure and achieve key clinical outcomes.
- Maintains an improvement mindset for the practice and aligns the practice and provider goals with those of the Medical Group. Designs operational plans for practice.
- Monitors workflow for continuous improvement opportunities.
- Drives and owns the financial budget and outcome for the practice(s).
- Reviews monthly financial statements to ensure revenue and expenses are accurate.
- Reports and resolves any discrepancies with Accounting.
- Prepares and reviews financial data and statistical reports with physicians monthly.
- Compares practice operating expenses to industry and internal Medical Group benchmarks.
- Examines expenses that exceed benchmarks and recommends and implements cost reduction strategies.
- Examines financial and statistical reports to propose strategies which build the financial well-being of the practice.
- Develops annual and five-year budgets using knowledge of costs, supplies and labor.
- Monitors and manages revenue cycle to ensure maximum reimbursement for the practice.
- Ensures that demographics and charges are posted timely and accurately.
- Ensures coding changes are identified and implemented.
- Works closely with Executive Committee and other stakeholders to influence judgment-making and drive performance; implements operational plan.
- Works closely with head physicians to prepare, coordinate, record minutes, and co-facilitate monthly practice review meetings with physicians.
- Implements policies, procedures and targets for the practice which align with the Medical Group policies and procedures.
- Acts as a liaison between the Medical Group and Practice(s) to communicate and coordinate with various departments to resolve operational challenges and improve quality of patient care.
- Participates in designing staffing models which best optimizes Practice workflow.
- Hires, develops and trains staff, including evaluation, counseling and termination recommendation.
- Provides information to physicians and other providers, community groups, and referral agencies about practice programs and new providers, in partnership with the marketing team.
- Identifies areas where the practice can better help the growing needs of the community and lead initiatives to close gaps.
- Helps executive committee with provider recruitment.
- Helps physicians with development, practice growth, and strategic planning/implementation.
- Onboards new providers to include Physicians and Advanced Practice Providers.
KEY SUCCESS FACTORS
- At least 5 years previous healthcare management experience in a physician practice setting
- Operations management experience leading clinical and operational teams required.
- Financial experience, budgeting, work with spreadsheets, accounting reporting systems and software, Excel and similar database reporting is a plus.
- A deep knowledge of all practice disciplines is required, including: revenue cycle, billing, patient experience, human resources, budgeting, financial analysis, clinical workflows, and recruitment.
- Ability to relate to, interact with and know personality types and different kinds of people. il.
BENEFITS
Our competitive benefits package includes the following
- Immediate eligibility for health and welfare benefits
- 401(k) savings plan with dollar-for-dollar match up to 5%
- Tuition Reimbursement
- PTO accrual beginning Day 1
Note: Benefits may vary based on position type and/or level
QUALIFICATIONS
- EDUCATION - Bachelor's or 4 years of work experience above the minimum qualification
- EXPERIENCE - 5 Years of Experience
- Ortho experience Preferred
- Medical Group Experience Preferred
