Hybrid Director of Vendor Management- Patient Financial Services -Corporate 42nd Street- Full-Time-Days chez Mount Sinai Health System

Vendor Strategy & Governance

1. Develop and lead the enterprise-wide RCM vendor management strategy covering front-end, mid-cycle, and back-end functions (e.g., patient access, coding, clinical documentation integrity, billing, collections, denials management).
2. Establish a governance framework for vendor selection, onboarding, performance monitoring, renewal, and termination.
3. Ensure all vendors comply with HIPAA, data security standards, and Mount Sinai policies.

Performance Management

1. Define and manage KPIs, SLAs, and contractual performance metrics for all vendors; ensure timely corrective action plans where needed.
2. Lead monthly/quarterly business reviews with vendors to assess operational performance, quality, compliance, and financial impact.
3. Utilize data analytics to identify performance trends, cost reduction opportunities, and process improvement initiatives.

Contract Negotiation & Financial Oversight

1. Negotiate new and renewal vendor contracts, optimizing cost-to-collect and return on investment.
2. Partner with Finance to ensure accurate invoicing, validate vendor-reported metrics, and monitor cost control.
3. Develop business cases for vendor-related investments and service changes.

Operational Integration

1. Collaborate with RCM leadership to ensure vendor services integrate seamlessly with internal workflows and technology platforms.
2. Partner with IT on technology-enabled vendor solutions, automation initiatives, and interoperability requirements.
3. Serve as escalation point for vendor-related operational issues, ensuring rapid resolution and minimal disruption to revenue cycle operations.

Continuous Improvement & Innovation

1. Benchmark vendor performance against industry standards and peer health systems.
2. Identify opportunities for automation, AI/ML solutions, and advanced analytics to enhance vendor-delivered services.
3. Drive pilot programs with new or emerging vendors to evaluate innovative solutions.
4. Source new best-in-class vendors/partners for RCM.

Vendor & Invoice Management

1. Direct all vendor invoicing processes, ensuring accuracy, timeliness, and alignment with contractual terms and service-level agreements.
2. Partner with Procurement, Finance, and Legal to negotiate favorable vendor agreements that support cost efficiency and operational performance.
3. Monitor vendor performance and compliance with contractual obligations.

Performance Metrics for Role Success

1. Reduction in vendor-related cost-to-collect.
2. Vendor performance meeting or exceeding 95% SLA adherence.
3. Timely resolution of vendor-related operational issues.
4. Measurable improvement in cash acceleration, denial overturns, days in AR and, clean claim rates attributable to vendor performance.

Essential Functions of Position

1. Maintain strong understanding of revenue cycle metrics and build processes to enhance analytical capabilities, process improvement identification, and technology enhancements.
2. Maintain strong understanding of various system functionalities and lead team in identifying and implementing improvements for performance, workflow, and cost-to-collect reduction.
3. Build effective, collaborative relationships with key stakeholders across departments.
4. Resourceful in creating or fine-tuning the processes necessary to complete the work along with the ability to organize people and activities.
5. Challenge existing norms or courses of action to facilitate fully informed decision-making. Help institute balanced decision-making by identifying risks and opportunities.
6. Establish and maintain strong working relationships with revenue cycle leaders, key stakeholders, and foster a strong working relationship with key strategic partners.
7. Provide leadership and support governance processes to result in effective, efficient, standardized, and compliant practices.
8. Create feedback loops and enhancement pipelines informed by stakeholders and data.
9. Maintain strong understanding of revenue performance metrics and payer mix.
10. Ensure compliance with all HIPAA privacy and security standards.
11. Conform to the established policies/ procedures/ processes/ Standards of Behavior.
12. Performs other duties as required by the System Vice President of RCM.

• Bachelor’s degree in healthcare administration, Business, Finance, or related field required; master’s degree preferred.
• Minimum 8 years’ progressive experience in healthcare revenue cycle management, with at least 5 years in vendor management or contract oversight.
• Proven experience managing large-scale vendor contracts in a complex health system environment.

Strength through Unity and Inclusion

The Mount Sinai Health System is committed to fostering an environment where everyone can contribute to excellence. We share a common dedication to delivering outstanding patient care. When you join us, you become part of Mount Sinai’s unparalleled legacy of achievement, education, and innovation as we work together to transform healthcare. We encourage all team members to actively participate in creating a culture that ensures fair access to opportunities, promotes inclusive practices, and supports the success of every individual.

At Mount Sinai, our leaders are committed to fostering a workplace where all employees feel valued, respected, and empowered to grow. We strive to create an environment where collaboration, fairness, and continuous learning drive positive change, improving the well-being of our staff, patients, and organization. Our leaders are expected to challenge outdated practices, promote a culture of respect, and work toward meaningful improvements that enhance patient care and workplace experiences. We are dedicated to building a supportive and welcoming environment where everyone has the opportunity to thrive and advance professionally. Explore this opportunity and be part of the next chapter in our history.

About the Mount Sinai Health System:

Mount Sinai Health System is one of the largest academic medical systems in the New York metro area, with more than 48,000 employees working across eight hospitals, more than 400 outpatient practices, more than 300 labs, a school of nursing, and a leading school of medicine and graduate education. Mount Sinai advances health for all people, everywhere, by taking on the most complex health care challenges of our time — discovering and applying new scientific learning and knowledge; developing safer, more effective treatments; educating the next generation of medical leaders and innovators; and supporting local communities by delivering high-quality care to all who need it. Through the integration of its hospitals, labs, and schools, Mount Sinai offers comprehensive health care solutions from birth through geriatrics, leveraging innovative approaches such as artificial intelligence and informatics while keeping patients’ medical and emotional needs at the center of all treatment. The Health System includes more than 9,000 primary and specialty care physicians; 13 joint-venture outpatient surgery centers throughout the five boroughs of New York City, Westchester, Long Island, and Florida; and more than 30 affiliated community health centers. We are consistently ranked by U.S. News & World Report's Best Hospitals, receiving high "Honor Roll" status, and are highly ranked: No. 1 in Geriatrics, top 5 in Cardiology/Heart Surgery, and top 20 in Diabetes/Endocrinology, Gastroenterology/GI Surgery, Neurology/Neurosurgery, Orthopedics, Pulmonology/Lung Surgery, Rehabilitation, and Urology. New York Eye and Ear Infirmary of Mount Sinai is ranked No. 12 in Ophthalmology. U.S. News & World Report’s “Best Children’s Hospitals” ranks Mount Sinai Kravis Children's Hospital among the country’s best in several pediatric specialties. The Icahn School of Medicine at Mount Sinai is ranked No. 11 nationwide in National Institutes of Health funding and in the 99th percentile in research dollars per investigator according to the Association of American Medical Colleges. Newsweek’s “The World’s Best Smart Hospitals” ranks The Mount Sinai Hospital as No. 1 in New York and in the top five globally, and Mount Sinai Morningside in the top 20 globally.

Equal Opportunity Employer

The Mount Sinai Health System is an equal opportunity employer, complying with all applicable federal civil rights laws. We do not discriminate, exclude, or treat individuals differently based on race, color, national origin, age, religion, disability, sex, sexual orientation, gender, veteran status, or any other characteristic protected by law. We are deeply committed to fostering an environment where all faculty, staff, students, trainees, patients, visitors, and the communities we serve feel respected and supported. Our goal is to create a healthcare and learning institution that actively works to remove barriers, address challenges, and promote fairness in all aspects of our organization.