Michael Monahan, FHFMA

President & CEO at Big Sky Management Group
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Contact Information
us****@****om
(386) 825-5501
Location
Ramsey, New Jersey, United States, JE

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Experience

    • Information Technology & Services
    • 1 - 100 Employee
    • President & CEO
      • Jan 2013 - Present

      Big Sky Management Group delivers client focused consulting across the financial and clinical operations of a healthcare system and the partners that serve them. Our goal at Big Sky is to help our clients, identify areas of improvement and take decisive action and sustain the results. Some sample engagements: * - Managed several Patient Access solution assessments and process redesign with a large implementation teams (5-10 team members) that drove benefit within the Insurance Verification, Financial Counseling, Case Management, and Pre-Registration departments with a return for $11 M - $15M. * - Project manager for the implementation of a several patient accounting systems including SMS, Meditech, Cerner. Responsibilities included vendor selection, project plan management, communication plan management, task coordination, risk management, vendor management, issue resolution, and user training for 100- 150 employees. * - Lead a team to strengthen and enhance a revenue cycle focused business intelligence solutions * - Lead the team to fully develop a new revenue cycle computer system in including a scheduling, registration, HIM and patient accounting systems.  Education seminars including “Selling into the “C” Suite”, Developing the “Trusted Advisor Status” with your clients, Understanding the Complex Sales Cycle in the Healthcare Industry, Reaching the CFO and Gaining their Support for the Sale Show less

    • United States
    • Hospitals and Health Care
    • 700 & Above Employee
    • Director Solutions Enablement
      • Apr 2014 - Feb 2017

      As Director Solutions Enablement, I focused a team of four subject matter experts to assist our sales teams in territory development and strategy, sales strategy, client interactions and development of the "walk to close strategy". In addition, I work with our Product Management teams to assist in solution development and commercialization to ensure that what we are developing is what the industry needs and create sales programs to bring these solutions to our clients. At GE HCIT, my team has delivered over a 23% growth in revenue cycle solutions growth while over a 100% turn-over in the sales team members in 2015. Developed and delivered a number of sales training programs to the new and existing sales team members. Personally exceed my sales targets in 2015 and 2016. Developed pricing and go-to market strategy on GE's Value Based Care solution - Financial Risk Manager. In addition, GE's BPO/MSO go-to-market sales strategy for 2016. Show less

    • United States
    • Software Development
    • 300 - 400 Employee
    • Vice President - Provider Solutions
      • Apr 2011 - Dec 2012

      Mike is using his extensive experience as a trusted adviser assisting MedeAnalytics clients’ senior leadership in aligning people, processes, and technology to help solve their organization's operational and financial challenges. In addition, Mike is managing the development team for MedeAnalytics largest solution - the industry leading Revenue Cycle Intelligence solution. Mike is using his extensive experience as a trusted adviser assisting MedeAnalytics clients’ senior leadership in aligning people, processes, and technology to help solve their organization's operational and financial challenges. In addition, Mike is managing the development team for MedeAnalytics largest solution - the industry leading Revenue Cycle Intelligence solution.

    • United States
    • IT Services and IT Consulting
    • 700 & Above Employee
    • Metro NY/NJ Market VP
      • Nov 2007 - Apr 2011

      As the Regional Vice President, I focused my efforts on developing market and service offering awareness in the healthcare provider, physician and payor communities for Perot Systems. Once Dell acquired Perot Systems, transitioned to Regional Vice President for Physician Services focused on developing the market strategy for hospital organizations around offering a electronic medical record to hospital employed and attending physicians and their electronic health information exchange. As the Regional Vice President, I focused my efforts on developing market and service offering awareness in the healthcare provider, physician and payor communities for Perot Systems. Once Dell acquired Perot Systems, transitioned to Regional Vice President for Physician Services focused on developing the market strategy for hospital organizations around offering a electronic medical record to hospital employed and attending physicians and their electronic health information exchange.

    • United States
    • IT Services and IT Consulting
    • 700 & Above Employee
    • Director
      • Sep 2003 - Oct 2007

      My role at Cerner had many facets to it, including participating in the sales for revenue cycle and EMR solutions to the healthcare industry, leading teams in the development of an enhanced revenue cycle reporting, and various teams that performed revenue cycle operational assessments. While assisting the sales teams in complex selling opportunities that achieved over $20 million in revenue cycle system sales and $120 million total system sales. In addition, I was part of the team that developed the revenue cycle transformation consulting and implementation processes including incorporating industry best practices into recommended workflows, policies and procedures and job descriptions. I was called on to presented to various internal senior leadership meetings on revenue cycle and hospital operations as well as presented and led focus groups at various meetings of Healthcare Finance Management Association and Health Management Academy. Show less

  • Health Ware Concepts
    • Wall, New Jersey
    • Vice President Management Consulting Group
      • Oct 2002 - Sep 2003

      Responsible for providing add-on financial, operational and process redesign consulting services from our analytical tools. Developed the complete end-to-end revenue and valuation reporting solution, which was unique in the healthcare industry at that time and developed 8 sales leads from personal network of industry contacts, which led to 6 sales opportunities. Responsible for providing add-on financial, operational and process redesign consulting services from our analytical tools. Developed the complete end-to-end revenue and valuation reporting solution, which was unique in the healthcare industry at that time and developed 8 sales leads from personal network of industry contacts, which led to 6 sales opportunities.

  • Deloitte and Touche
    • Great NY/NJ/CA Tri-State area
    • Seinor Manager
      • Jun 1997 - Oct 2002

      While at Deloitte, one of the “Big 4” accounting and auditing firms, I developed a “high level” revenue cycle assessment product that was incorporated into their revenue cycle suite of services. I also led numerous consulting engagements including various revenue cycle process assessments and redesign engagements, due diligence engagements, and financial and operations assessments and process redesign. In one engagement, I lead a team that assisted a major university medical center in New Jersey to redesign their front-end processes which resulted in a $10 million reduction in the administrative denials from the managed care companies. Another engagement at a major academic institution, I lead a “visioning session” to identify “world class” processes across the organization’s revenue cycle, which resulted in a 7-day reduction of their Days in Accounts Receivables within 90 days of the session and increased cash collected by $2-3 million per month. Show less

    • Vice President Financial Services
      • Feb 1989 - May 1997

      Small consulting firm focused on financial, reimbursement and operational improvement for hospitals, home health agencies and nursing homes. Lead various consulting engagements including revenue budget preparation, product line financial assessments, attorney – client compliance engagements, reimbursement assessments and charge setting engagements. Spent three years as an acting CFO and assisted senior management in a financial turnaround, issuing $50 million in tax-exempt bonds and converting to a new patient accounting system. Show less

  • Barnert Hospital
    • Patterson, NJ
    • Vice President - CFO
      • Jan 1987 - Feb 1989

      Responsible for all financial activities of the hospital including information technology, patient access, medical records, patient accounting, credit and collection, general accounting, payroll, accounts payable, budget, and reimbursement.Lead a team to develop an appeal to the state of New Jersey for additional annual reimbursement of $8.5 million, which stabilized the institution’s financial condition. Lead a team in designing and implementation of totally new patient accounting system in the state of New Jersey. Assisted the CEO in an attempted merger with a large university medical center in NJ. Show less

    • Hospitals and Health Care
    • 400 - 500 Employee
    • Controller
      • Mar 1985 - Jan 1987

      Responsible for all the financial activities of the hospital including patient access, patient accounting, credit and collection, general accounting, payroll, accounts payable, budget, and reimbursement. Responsible for all the financial activities of the hospital including patient access, patient accounting, credit and collection, general accounting, payroll, accounts payable, budget, and reimbursement.

  • Barnert Hospital
    • Patterson, NJ
    • Controller
      • Jun 1984 - Mar 1985

      Responsible for all the financial activities of the hospital including patient access, patient accounting, credit and collection, general accounting, payroll, accounts payable, budget, and reimbursement. Responsible for all the financial activities of the hospital including patient access, patient accounting, credit and collection, general accounting, payroll, accounts payable, budget, and reimbursement.

    • Manager
      • Jul 1977 - Jun 1984

      Performed certified audits on hospitals’ financial statements.Spent approximately 50% consulting on reimbursement, revenue cycle and general financial issues affecting hospitals. Performed certified audits on hospitals’ financial statements.Spent approximately 50% consulting on reimbursement, revenue cycle and general financial issues affecting hospitals.

    • Senior
      • Jul 1974 - Jul 1977

      Audited hospitals’ Medicare Cost reports in the Greater New York area Audited hospitals’ Medicare Cost reports in the Greater New York area

Education

  • St.Thomas Aquinas College
    B.S., Business Administration/Accounting
    1970 - 1974
  • Spring Valley Senior High School
    HS, College Prep
    1969 - 1970

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