Executive Vice President, Revenue Optimization

GENERAL STATEMENT OF DUTIES                                                            

Revenue Optimization – National executive oversight, of developing, planning, organizing, and implementing current and future strategies to bill customers, process payments, minimize bad debt, improve cash flow, optimize receivables and manage the overall health of the company’s receivables.  Executive oversight to improve processes as they relate to revenue cycle functions which include but are not limited to, front office policies and processes, billing, collections, accounts receivables, and financial planning for patients.  This leader will work with the assigned staff and specialty hospital, ASC, and clinic business offices on revenue cycle performance to meet strategic goals.  This position will create and/or update written guidelines, policies, and procedures in accordance with an implementation of all work processes as a result of ongoing analysis.

ESSENTIAL FUNCTIONS

Planning

• Developing strategic plans and programs for the Revenue Cycle team and ensuring objectives of the team are properly defined and established.
• Developing policies and guidelines and implementing procedures while ensuring consistent company-wide implementation.
• Ensuring that operating expenses are well within the prescribed limits of budget plans and fiscal guidelines.
• Providing projections and reports as required, for the development and management of budgets; producing and analyzing monthly reports that assist in the forecast process.
• Monitoring timeliness and effectiveness of department activities, ensuring that outstanding patient accounts and accounts receivables are within the agreed-upon limit and that bad debt is within budgeted target.
• Monitoring the effectiveness of collection efforts and maintain insurance billings that are current within the established time frame specified in the department policy.
• Enhancing workflow processes throughout the revenue cycle to assist in achieving consistency in maintaining the critical success factors.
• Ensuring effectiveness in maximizing utilization of both asset and people resources.
• Leading integration efforts when entering new markets and/or adding new business units within existing markets.
• Establishing effective communication strategies for providers in all markets to gain understanding of all revenue optimization processes in place.

Controlling

• Ensuring that Revenue Cycle processes are controlled through Performance Metrics and Standards. National benchmarking is paramount to measure ongoing performance.
• Reviewing the performance of the team regularly to ensure metrics and standards are well within pre-established goals and objectives.
• Consolidating performance standard reports to monitor the progress of initiatives.

Leading

• Designing and develop the appropriate organizational structure for the Revenue Cycle team and staff accordingly.
• Conducting regular meetings with the team, to ensure the implementation of Revenue Cycle plans, programs, and projects strictly adhering to prescribed deadlines and schedules.
• Implementing a “Performance Improvement Program” to best manage and mentor staff, where applicable
• Developing team performance measures and review and evaluate team performance regularly and during the annual performance review period.
• Developing training programs that are relevant to the continuous development of staff.

Managing Patient Service Functions

• Managing the patient services and billing staff in handling patient relations.
• Ensuring resolution of complex patient complaints and issues by sharing company policies and guidelines as well as those involving compliance issues with State and Federal regulations.
• Developing plans and programs in conjunction with CORE leaders to monitor patient relations thru the conduct of regular patient satisfaction surveys.

Managing State and Federal Regulations

• Ensuring that HIPAA Notices of Privacy Practices are on display, if applicable.
• Ensuring that records are stored securely and handled in compliance with HIPPA privacy and security regulations.

EDUCATION

• Bachelor's Degree in Healthcare Administration, Business or another related field or equivalent required.
• Master’s Degree preferred.

EXPERIENCE

• Minimum 10 years of experience in revenue cycle management and, ideally 5+ years in hands-on revenue cycle leadership at a VP level or higher.
• 10 or more years of increasing executive responsibility with proven re