This finance executive will partner with the EVP of finance in leading, organizing and implementing current and future strategies to drive success in a key business line of revenue cycle management. This leader will work to optimize revenue, ensure compliance with State and Federal guidelines, improve accuracy and timeliness of billing and collections, minimize bad debt, improve cash flow and manage the overall health of the company’s receivables. This position will work with business office staff on revenue cycle performance to meet strategic goals and will provide analysis to create processes, guidelines, policies, and procedures.
Duties and Responsibilities
- Develops strategic plans and programs for the revenue cycle team and ensures that the goals and objectives of the team are properly defined and clearly established.
- Develops revenue cycle policies, guidelines, and implementation procedures and ensures consistent company-wide implementation.
- Ensures we meet our client’s goals as well as effectively communicate with them on their needs, plans and outcomes.
- Serves as liaison to revenue cycle sales leadership team members
- Oversees the clinical assessment and reimbursement service line and external advancing service areas.
- Develops, programs, and guides to ensure the team’s adherence with financial guidelines and requirements.
- Provides projections and reports as required, for development and management of budget; produce and analyze monthly reports that assist in the monthly forecast process.
- Monitors timeliness and effectiveness of department activities, ensuring that accounts receivable are more than the agreed upon limit and that bad debt is within budgeted target.
- Has overall division P/L responsibility
- Monitors effectiveness of collection efforts and maintains insurance billings are current within the established time frame specified in policy.
- Compiles and prepares various status reports for management partners in order to analyze trends and make recommendations.
- Enhances and standardizes our work-flow processes throughout the revenue cycle to assist in achieving consistency in maintaining the critical success factors outlined in the Company’s standard operating procedures.
- Designs and develops the appropriate organization structure for the revenue cycle team.
- Ensures that employees’ personal values are aligned with the company’s corporate values.
- Conducts regular and periodic meetings with the team, to ensure the following:
- Implementation of all team plans, programs, and projects strictly adhering to prescribed deadlines and schedules.
- All communications and relevant information pertaining to the team are cascaded to the proper channels within the team in particular, and the organization in general.
- Performs training and development functions, as follows:
- Designs and develops training programs that are relevant and necessary for the continuous development of the technical competencies of the team.
- Recommends and implements for appropriate training programs that will further enhance and hone the technical competencies of the staff.
- Conducts training programs, and acts as subject matter expert on training programs pertaining to the revenue cycle team.
- Develops and formulates performance measures and standards for the team, as basis for the conduct of annual performance management review program.
- Reviews and evaluates the performance of the team, on regular and periodic basis, and ensures that the overall performance of the team is on track, and well within the pre-established goals and objectives.
- Consolidates performance status reports of the team as basis for monitoring the weekly progress of the various activities within the team.
- Ensures that records are secure and handled in compliance with HIPAA privacy and security regulations, if applicable.
Required Knowledge, Skills, Abilities, and Experience
- Bachelor’s degree in business, accounting, finance or related field, or the equivalent combination of education and experience
- Experienced (10+ years) revenue cycle management professional, preferably in healthcare and long-term care
- Knowledgeable on billing software. Basic knowledge of clinical module is also helpful. Point Click Care experience preferred
- Previous healthcare consulting experience preferred
- Basic accounting knowledge/training desirable.
- Computer proficiency in Microsoft Office
- Current hands-on billing experience in Medicare, Medicaid, and other third party payers
- Strong oral, written and interpersonal communication skills
- Ability to work independently and have strong self-initiative
- Strong background in financial management and knowledgeable of federal and state laws and requirements relating to healthcare management.
- Ability to travel to clients intermittently
- Ability to develop and maintain positive working relationships with clients, colleagues, employees, and contractors
- Adherence to Health Dimensions Group’s values of hospitality, stewardship, integrity, respect, and humor
- Ability to view the business from the bigger picture perspective
- Excellent problem resolution skills and decision making ability
- Excellent oral, written, and interpersonal communication skills
- Ability to work well under pressure, manage multiple projects simultaneously, and meet deadlines