VP, Revenue Cycle - CBO/Shared Services
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POST DATE 8/19/2016
END DATE 12/19/2016
This role implements and directs the revenue cycle functions to improve cash flow and Days in Accounts Receivable. This position is responsible for developing and implementing system wide standardized policies and processes to achieve the goals of the centralized business office; organizing the necessary human and physical resources required to accomplish the plan; and, monitoring, developing, and improving overall performance to achieve stated goals for revenue cycle management.
* Provides financial leadership support and guidance to executive leadership. Proactively seeks alignment between finance and operation leadership teams.
* Partner with strategic leaders to build a vision and strategies to assure quality integrated services that meet or exceed organizational needs. Clearly communicate the business model and tactics to stakeholders.
* Develops annual and periodic goals for revenue cycle performance and for the organization's overall revenue and cash collection performance.
* Develops, implements, and manages efficient and effective operational policies, processes and best practices within the functions of the revenue cycle. This includes but is not necessarily limited to: scheduling, admission/intake processes, authorization/pre-authorization of services, insurance verification, charge capture, claims processes, payment posting, credit balance management, billing practices, vendor and A/R management.
* Maximizes the collection of payments and reimbursements from clients, patients, residents, Medicare, Medicaid, private payers, guarantors, etc.
* Ensure an adequate balance between legal and financial responsibility to ensure compliance with external laws and regulations.
* Possesses extensive knowledge of revenue cycle and regulatory requirements associated with governmental and commercial payers and billing. Serves as the subject-matter expert on regulatory, compliance and legal requirements associated with medical billing and CMS. Ensures compliance with relevant regulations, standards and directives from regulatory agencies and third-party payers.
* Leads the development and implementation of revenue strategies to maximize profitability. Works closely with the Executive Management team on the development and implementation of client-friendly coding, billing and reimbursement guidelines.
* Continually seeks ways and means for improving the delivery and support of revenue cycle activities and programs, whether through technology, outsourcing to vendors or internal processes
EDUCATION, SKILLS & EXPERIENCE:
* Bachelor's Degree in Accounting, Finance, Business Administration or related field
* 10+ years professional experience in healthcare revenue cycle management
* 5-7 years in multi-hospital system or Shared Service Center or Central Billing Office preferred.
* Extensive knowledge of healthcare billing systems is a requirement.
* Expert level analytical and data analysis skills, with a proven ability to develop and analyze complex issues.
* Strategic thinking with a high regard for execution on company objectives and initiatives.
* Strong written/oral communication and presentation preparation/delivery skills.
* Experience starting new department and/or bringing decentralized department practices into centralized practice.