Job Title: Senior Contracts Executive
Department: Finance
Salary: £55,000 – £60,000 depending on experience
Hours: 37.5 hours per week
Contract: Permanent
Job Summary:
We are seeking a Senior Contracts Executive to lead all revenue and contractual agreements with Private Medical Insurers at King Edward VII Hospital.
The successful candidate will be responsible for managing and maintaining all aspects of the contractual relationships with Private Medical Insurers, including negotiations, billing and performance monitoring.
The role will involve optimising revenue and profitability through the development and implementation of effective pricing strategies in line with the hospital’s trading activities.
Key Duties:
Oversee and manage all aspects of the hospital’s contracts with private medical insurers (PMI) and other healthcare providers.Develop and maintain strong relationships with PMIs through regular engagement to ensure effective contract performance monitoring and identification and mitigation of any risks.Ensure that all PMI contracts are complete, accurate, up-to-date, commercially viable and meet relevant regulations and laws.Maintain a thorough understanding of PMI policies and trends and adjust the hospital’s financial practices accordingly.Collaborate and communicate with internal teams to ensure prompt and accurate billing and timely collection of PMI revenue.Effective leadership and management of the PMI billing and credit control team ensuring compliance to all targets for insurance activity.Prepare and present PMI aged debt reports, providing insights and recommendations to consistently reduce debt. Develop KPIs in relation to insurance revenue, invoicing and credit control.Develop and implement pricing strategies to optimise revenue and increases profitability.Conduct regular analysis of activity and revenue trends to identify opportunities for improvement.Analyse contract data and present reports to senior management on contract and revenue management and performance.Stay up-to-date with industry trends, best practices, and regulatory changes to ensure compliance and maintain competitive advantage.
Requirements:
5+ years experience in contract and revenue management in the healthcare sector, with deep understanding of working with private medical insurance companies.Experience of Compucare, Healthcode and healthcare billing and coding processes, as well as regulations related to reimbursement and revenue management.Proven experience in providing the analysis, recommendations and support to successful contract negotiation.Strong analytical and problem-solving skills, with the ability to interpret and use financial data to make informed decisions and achieve resolutions.Excellent communication and interpersonal skills, with the ability to collaborate and coordinate effectively with colleagues across different departments and levels of seniority.Ability to work independently and manage multiple projects simultaneously.Experience of managing a team and being able to lead and inspire them to deliver a quality service in line with contractual and organisational needs and targets
In return we offer:
Free restaurant quality meal whilst on duty35 days annual leave (including Bank Holidays)Private healthcareCompany pension schemeIn-house trainingRange of discounts via our employee discount portalInterest free travel loans