Revenue Cycle Director directs and oversees the overall policies, objectives, and initiatives of an organization's revenue cycle activities to optimize the patient financial interaction along the care continuum. Reviews, designs, and implements processes surrounding admissions, pricing, billing, third party payer relationships, compliance, collections, and other financial analyses to ensure that clinical revenue cycle is effective and properly utilized. Being a Revenue Cycle Director tracks numerous metrics related to the patient engagement cycle including record coding error rates and billing turnaround times to develop sound revenue cycle analysis and reporting. Manages relations with payers and providers to generate high reimbursement rates and a low level of denials. Additionally, Revenue Cycle Director requires a bachelor's degree. Typically reports to top management. The Revenue Cycle Director manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. To be a Revenue Cycle Director typically requires 5+ years of managerial experience. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function. (Copyright 2024 Salary.com)
CHARACTERISTICS OF WORK:
This position will require very strong industry-based knowledge of revenue cycle management and best practices. This strong leader must take a hands-on roll up their sleeves transformational approach to be successful. The position will have immediate responsibility for two large billing operations totaling more than 25 million in accounts receivable with a disproportionate amount of it aging and needing immediate attention. The position has direct supervision of all employees in RCM and over both databases and accounts receivables. The Revenue Cycle Manager will also need to be strong enough to acquire additional databases for new practices, helping with integration and support as they are acquired into the platform. The position will be expected to collaborate with senior management, provide weekly and monthly updating, but work independently.
EXPERIENCE / EDUCATIONAL REQUIREMENTS:
Education:
Bachelor’s Degree required, degree in Health Care Administration or Business Administration preferred
AND
Experience:
Eight (8) years’ experience in financial management including two (2) years in medical financials
Three (3) years’ experience in managing 15 employee department
ESSENTIAL FUNCTIONS:
The essential functions include, but are not limited to, the following: