Interim VP, Revenue Cycle
4 weeks ago
The Vice President of Revenue Cycle Operations is responsible for the planning and creation of policy that supports effective management of the Revenue Cycle within a multi-facility health system and serves as leader, partner, and resident expert in the capture, management, and collection of patient service revenue, utilizing the drivers of financial performance to attain short and long-term business and service goals. S/he provides leadership for the Accounts Receivable function, utilizing sound planning, decision-making tools, and key financial concepts and analysis toward quality improvement and the maintenance of regulatory compliance for the organization.
Duties and Responsibilities:
- Manage and operate the full revenue cycles for the system's hospitals and medical group practice. Report to the CFO and to the CEO routinely and regularly.
- Develop aggressive yet achievable operational goals and provide leadership support to meet said goals.
- Implement and maintain standardized operating principles and practices that are compliant with federal regulations, governmental agencies, state regulations, and third-party administrators.
- Drive cash acceleration and net patient revenues as well as long-range plans with the goal of maximizing accounts receivable and net patient service revenue yields.
- Recommend and establish overall financial policies and programs to administer the financial or business aspect of patient services ensuring appropriate internal controls are in place and followed.
- Validate and hold third parties accountable for all performance and SLAs as defined through the statement of work with the healthcare system.
- Ownership of IT systems and staff that support the Revenue Cycle.
- Negotiate vendor contracts.
- Work closely with the Managed Care Department Executive to coordinate payer contract provisions and terms with billing and collection processes.
Requirements:
- A Bachelor's degree is required. A Master's degree in business administration is preferred.
- Must have one of the following: CPA, Fellow HFMA, Certified Patient Accounts Manager, or equivalent work experience.
- Minimum Experience: Ten (10) years of executive-level healthcare financial management experience with strong functional skills in access management, coding, billing, collection, and managed care contracting.
- Experience at the corporate vice president level with a concentration in an academic medical center or multi-hospital setting is preferred.
- Thorough understanding and experience leading the complete revenue cycle operations and processes from the front end (Access) through the back end (Patient Accounting) of the revenue cycle.
- In-depth knowledge of patient financial services to provide the direction necessary to ensure the development and maintenance of effective financial and cash systems derived from the performance of the revenue cycle.
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