Director of Payment Operations
Posted over 1 year ago
Flume is building the first modern health plan administration platform - with the mission to become the backbone of most health plans in the US. In doing so, we're using software to replace mostly paper-based processes in the $30B+ third party administration (TPA) industry. Our platform allows us to unlock efficiencies in health plans that results in measurably better health outcomes for members and 15-40% lower costs for payers. Our platform impacts the entire payer supply chain from the way a member finds their doctor, to the payments happening in the background.
At Flume Health, you’ll work alongside a multipurpose team of healthcare insiders and outsiders who are all committed to solving real-world problems. Everyone is an owner. We approach every problem assuming different stakeholders have different parts of the solution, and we need to collaborate to find the right answer.
Flume Health was founded in 2018, and closed a $30M series A in February 2022, led by Optum Ventures and CIGNA ventures—it was the fastest portfolio company that's ever gone through Optum's due diligence process. In total, Flume has raised over $40M from investors including Crosslink Capital, Accomplice VC, Primary VC, Founder Collective, Route 66, and Entrepreneurs Roundtable Accelerator (ERA).
The Director of Payment Operations position is responsible for providing direction and support to the Financial Operations Central Billing and Accounts Receivable teams while operationalizing the strategic needs of the Financial Operations group. As a member of the Financial Operations team, and in support of the direction of the COO, this role develops and operationalizes Billing & AR related policies, procedures, and processes for the Financial Operations organization, building financial and business controls and investment in systems, solutions and tools required to support Flume’s investment in an integrated billing system to support the business model as well as overseeing the accounting functions of the company.
- Ensure Central Billing and AR tasks are planned, prioritized, and completed within a timely, efficient & accurate manner.
- Oversee the accounting process for accounts receivable, accounts payable, payroll, inventory, and compliance
- Oversee and own the monthly, quarterly, and year-end close processes including detailed analysis and reconciliation of all general ledger accounts and preparation of financial statements in compliance with U.S. GAAP
- Deliver accurate and timely results reporting to management, shareholders, regulators, and the Board of Directors
- Ensure reconciliation of transactions
- Create and implementation of Billing and AR related policies, procedures, and control deliverables for Internal and External Audit requirements.
- Develop and maintain a collaborative Service and Support model, with a Service Excellence mindset, ensuring the thorough and timely research and resolution of financial service requests.
- Ensure the timely and accurate completion of Billing and AR related fiscal month end, quarter end and year end deliverables in accordance with fiscal close requirement(s).
- Research inconsistent claims data and resolve major issues to ensure proper billing
- Propose and lead Billing & AR related continuous improvement initiatives or projects to drive Billing & AR process improvement, solution enhancement and workforce efficiency while effectively planning and leading change management within the impacted entity(s).
- Plan, lead and deploy the rollout of Billing & AR Key Performance Indicators (KPI's) that measure progress towards achieving Best Practice driven results.
- Work on implementing Financial Systems, Business Analysis, and FP&A
- Oversee the identification and implementation of automated billing and AR solutions.
- Collaborate with Account Management to deliver excellent service to our clients.
- Bachelor's Degree in Accounting or Finance, MBA preferable
- Minimum of 10 years of progressive Billing & AR experience within high volume, service- oriented settings.
- CPA and/or equivalent preferred
- Experience in large Billing & AR system implementations.
- High proficiency in Microsoft Excel and Google Suite
- Strong accounting, analytical skills and overall system literacy skills.
- Experience with implementation and management of automated billing solutions including Third Party Billing platforms, electronic invoicing solutions and EDI technology.
- Outstanding effective communication skills (verbal, written & listening) including the ability to interact with senior management, customers, team partners or vendor representatives.
- Experience with cross functional communication and presentation, including Executive Team members
- Outstanding Customer Service skills while demonstrating the ability to effectively negotiate proposals and influence decisions.
- Flexible PTO - you’re going to be working hard so enjoy time off
- A robust stock option plan to give our employees a direct stake in Flume’s success
- WFH stipend - we’ve always been remote first
- Competitive compensation and 401k with a 4% match
- Comprehensive health coverage (medical, dental, vision)
