Director, Revenue Cycle Management

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 114,000 colleagues serve people in more than 160 countries.

     

JOB DESCRIPTION:

Working at Abbott

At Abbott, you can do work that matters, grow, and learn, care for yourself and family, be your true self and live a full life. You’ll also have access to:

• Career development with an international company where you can grow the career you dream of.
• Free medical coverage for employees* via the Health Investment Plan (HIP) PPO
• An excellent retirement savings plan with high employer contribution
• Tuition reimbursement, the Freedom 2 Save student debt program and FreeU education benefit  an affordable and convenient path to getting a bachelor’s degree.
• A company recognized as a great place to work in dozens of countries around the world and named one of the most admired companies in the world by Fortune.
• A company that is recognized as one of the best big companies to work for as well as a best place to work for diversity, working mothers, female executives, and scientists.

The Opportunity

This is a position within Abbott Medical Devices and works out of our Orlando, FL location in the Heart Failure division. In Abbott’s Heart Failure (HF) business, we’re developing solutions to diagnose, monitor and manage heart failure, allowing people to restore their health and get on with their lives.

The Director, Revenue Cycle Management is the overall management responsibility for optimizing all VOB, Insurance Data Management, Billing, Cash Application, and Collections, considering business objectives and operating compliantly at all times.  The position requires a unique blend of customer service, procedural knowledge, technical knowledge, reimbursement knowledge, and managed care focus in order to work effectively with both internal and external customers.  The Director will provide business analysis for critical information requests, process re-engineering, business change management, and metric analysis with respect to Business and People Performance.  In addition, the Director will be directly responsible for defining and implementing the Revenue System/Controls roadmap, supporting periodic audit requirements, and developing a culture of rigorous controls to mitigate risk and ensure the existence of sustainable business practices.  As a leader, this individual will need to operate as an influential member and partner with Compliance, Legal, Finance, Quality/Regulatory, Contracting, Operations, and IT functions, ensure compliance and quality of documentation, support sales and customer service goals, and adapt to changing business priorities as needed.

Primary Responsibilities

• Management of multiple departments across multiple facilities, working collaboratively to ensure the compliant, accurate, efficient and timely coordination of the revenue workflow, implementation of contract strategy, optimized cash collection, and internal/external compliance to executed payer agreements.
• Studies, analyzes and reports on internal and external trends, recommends opportunities to drive functional performance in order to deliver continuously improving financial revenue cycle outcomes and processes
• Vigilantly assesses for potential risks, exposures, and noncompliant circumstances while owning resolution of identified regulatory issues associated with areas of functional responsibility.
• Responsible for defining, managing to, and optimizing key performance metrics, including but not limited to DSO, Cash Conversion Cycle, Bad Debt, % of Billing/Revenue Collected, Employee productivity and capacity utilization, Denial Rates, Credit Balances, Contract effectiveness, Payer Performance, etc.
• Ensures compliance in all aspects of RCM activities including coding and billing rules and regulations by payer and state. Responsible for monitoring and responding to any legislation/regulatory billing changes. (i.e. ICD-10).
• Delivering Revenue Cycle efficiencies through Employee development, System selection/automation, Process design, Development of Payer Relations, avoiding waste/redundancy, and applying root cause assessment in order to deliver continuous Revenue Cycle improvements
• Delivering imp