Director of Revenue Cycle | Hospital | Chicago, IL
Ready to Combine Quality of Life and Career?
Galileo Search is conducting a search for an experienced Director of Revenue Cycle for our award-winning client in Chicago, IL.
Key Responsibilities and Duties:
• Reports to the CFO and oversees 8 Direct Reports and 40+ FTEs
• Serves as the primary revenue cycle executive liaison to the Senior Leadership Team to develop the strategic direction for all revenue cycle initiatives
• Leads Revenue Cycle strategic plan objectives and operational goal setting and execution through departmental leadership including Patient Access, Patient Registration, and Billing
• Provides leadership and direction organizational to the Health Information Management Department to optimize in/outpatient coding
• Develops Revenue Cycle budgets, financial plans, Revenue Cycle annual plan and goals and objectives to support the enterprise financial goals and annual plan commitments
• Leads efforts to improve performance, increase provider satisfaction and improve patient and family experience, as it relates to Revenue Cycle
• Responsible for compliance with all applicable billing regulations including Hospital Attorney General Agreement, The State Department of Revenue – Revenue Recapture, Affordable Care Act, and Systems Admissions and Treatment Policy
• Manage staff compliance with requirements for CMS and other regulatory bodies
• Serves as the primary, day-to-day company interface with revenue cycle and business office directors from within the facility to facilitate the successful adoption and implementation of revenue cycle initiatives
• As the Revenue Cycle leader, provides strategic guidance and analysis, as well as administrative oversight of the Revenue Cycle service line; balances the short-term perspective required to meet aggressive quarterly and annual goals with the long-term perspective required to explore, over time, shared service models and potential centralized business office functions
• Develops and establishes broad scale, long term business objectives, goals and projects
• Develops and formulates performance measures and standards for revenue cycle services
• Develops excellent verbal and written communications to ensure complete and transparent understanding of progress toward key performance indicators/smart numbers
• Regularly provides leadership with revenue cycle business development status including reports, metrics, and presentations; Develops, monitors, and assesses business metrics to refine processes and improve efficiencies
• Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws; Those responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; addressing complaints and resolving problems
• 3 years of experience in revenue cycle management in an acute care operation successfully leading and managing a high-performance revenue cycle operation, meeting or exceeding industry benchmarks
• Proven knowledge and understanding with: a. Upstream revenue cycle functions (scheduling; insurance authorization; pre-registration; financial counseling) b. Midstream revenue cycle functions (Case management; health information management; clinical coding; clinical documentation improvement; charge capture and revenue integrity; charge description master) c. Downstream revenue cycle functions (billing and claim submission; self-pay and third-party follow-up; denials and underpayments management; outsourcing vendor management; bundled claims management)
• Ability to write/develop complex documents without significant supervision
• Demonstrated ability to work in a team environment that requires rapid cycle turnaround, innovative thinking, and high-quality deliverables
• In-depth knowledge of current regulatory, market and customer trends that are driving revenue cycle innovation
• Knowledge of current hospital issues, e.g., reimbursement, physician-hospital relationships, hospital competition, etc.
• Knowledgeable in current and possible future policies, trends, and information affecting healthcare revenue cycle.
• Significant experience managing and being responsible for a P&L based business unit; fluid working knowledge of operational budgets, financial modeling, revenue cycle metrics, and general business metrics and formulas
• Skilled in the use of personal computers and related software applications, including but not limited to intermediate knowledge of the following Microsoft products: Excel, Word, PowerPoint, and Outlook
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