Revenue Cycle Management
Finance | St. Louis, MO | Full Time | From $85,000.00 to $120,000.00 per year
Job Description
Job Title:
Director, Revenue Cycle Management
Position Type:
Full-time, Salary Exempt
40 base hours
Reports To: Chief Financial Officer
Job Description
Role and Responsibilities
- Essential member of the financial management team. Keep the Chief Financial Officer apprised of daily operations and communicate any problems or issues in a timely manner.
- Under the direction of the Chief Financial Officer, responsible for the revenue cycle activities of the Finance department, including assisting in financial forecasting, budget preparation, risk management, and other appropriate financial analyses.
- Design, implement and monitor all key performance indicators to ensure that cash flow is maximized throughout the revenue cycle.
- Develop, plan, organize, and implement current and future best practices for revenue cycle billing, collections, client accounting and other functions. Continually identify opportunities for enhancements.
- Oversee the eligibility program to ensure patients are enrolled and maintained in Medicaid and all other appropriate grant programs for payment of services.
- Collaborate and coordinate with Practice Leaders and Department leaders regarding Registration or front desk operations related to billing, cash management, collections activities and revenue cycle processes.
- Consult with Compliance Department on questions related to coding and documentation criteria and collaborate with Compliance on auditing and monitoring activities.
- Work collaboratively with other leaders on revenue cycle performance to meet strategic goals and develop guidelines, policies, and procedures through use of data analysis. Continually monitor billable revenues to budget, and identify and explain significant variances for all revenue streams.
- Coordinate and lead regular billing management meetings; conduct detailed review of key performance indicators and trends within accounts receivable for all programs.
- Keep abreast of current and future, internal and external, payer trends and continually evaluate and establish all operational changes necessary to ensure maximization of revenue capture in light of changes.
- Direct the development of tactical plans and operating budgets to achieve strategic goals; monitor progress toward goals through the year.
- Provide leadership and supervision to the Registration or Front Office Associates.
- Develop, implement, and monitor corrective action plans related to billing rejections and other challenges that hinder maximizing revenues.
- Hire, train, supervise and evaluate departmental staff consistent with the organization's human resource practices.
- Establish departmental and individual staff goals consistent with the organization's organizational objectives, strategic plan and core values.
- Assist in maintaining and updating all Revenue Management Cycle Policies and Procedures, as needed, but at least annually.
- Perform ad-hoc analysis on business trends and the impact on financial results.
- Maintain current written desk top procedures.
- Collaborate with the Executive Management Team (EMT).
- Analyze and report on daily encounters.
- Assist with Medicare and Medicaid Cost Reporting where applicable.
- Assist with Uniform Data Systems reporting where applicable.
- Perform other appropriate duties as assigned.
Other Abilities
- Ability to develop oneself through continuous learning, initiative, innovation, resourcefulness, and critical thinking.
- Ability to prioritize, effectively handle multiple projects concurrently, and take ownership of work.
- Ability to meet tight deadlines, work extended hours during accounting close, audit periods and other critical times.
- Ability to work independently and as part of a team as necessary.
- Ability to work collaboratively with internal and external customers.
- Ability to maintain confidentiality of company information.
- Must be detail oriented, but able to maintain a balanced perspective in rapidly changing business circumstances.
Formal Policy Setting Responsibilities
The employee is formally responsible for making recommendations that may or may not be accepted at a higher level regarding the job’s purpose, essential responsibilities, and operations.
Formal Supervisory Responsibilities
The employee is formally responsible for supervising staff.
Education and Certification Requirements
- Bachelor of Science (BS) Business Management
- Certified Patient Accounting Technician (CPAT), American Association Healthcare Administration Management
- Certified Revenue Cycle Representative (CRCR), American Association Healthcare Administration Management
Computer Skills: To perform this job successfully, an individual should be:
- Knowledge and experience with integrated accounting systems for general ledger.
- Knowledge of Dynamics Great Plains accounting software and Next Gen desired.
- Proficient with Microsoft Excel including V lookups, pivot tables, data, and quantitative analysis. Intermediate to advanced experience with Microsoft Word, Microsoft Outlook and Microsoft 365.
Language Skills
- Ability to understand oral and written communications.
Reasoning Ability
- Ability to define problems, collect data, establish facts, and draw valid conclusions.
- Ability to approach problems in a detail and solution-oriented manner.
The above statements describe the job’s essential responsibilities and requirements. They are not an exhaustive list of the duties that may be assigned to job incumbents.
An Equal Opportunity/Affirmative Action Employer
Services Provided On A Non-Discriminatory Basis
Approved By:
Javier Vallejo
Chief Financial Officer
Date:
04/09/24