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Senior Vice President of Revenue Cycle Management

2 months ago

Parsippany, New Jersey, United States Med-Metrix Full time
Job Overview

Position Summary

The Senior Vice President of Revenue Cycle Management will play a pivotal role in enhancing the strategic alliance with essential clients by showcasing exceptional relationship management skills, comprehensive understanding of client requirements, and expertise in revenue cycle management (RCM) operations.

Key Responsibilities

  • Supervise comprehensive revenue cycle service administration for assigned client(s).
  • Ensure acceptable metrics for accounts receivable days, bad debt, and other critical performance indicators.
  • Evaluate financial outcomes, formulating and executing action plans as necessary.
  • Collaborate with relevant stakeholders on chargemaster pricing strategies, assessing charge frameworks, and contractual agreements.
  • Serve as a technical authority regarding financial classifications for clients and team members.
  • Initiate and lead strategic initiatives aimed at optimizing operational results and enhancing performance.
  • Formulate strategic annual objectives to meet client key performance indicators (KPIs).
  • Identify and cultivate opportunities for new service offerings, revenue enhancement, and process improvements.
  • Conduct regular visits to client locations for engagement meetings, including account assessments with relevant data and policy evaluations.
  • Monitor trends in payments and denials, addressing procedural challenges.
  • Provide recommendations to clients for addressing identified trends.
  • Collaborate closely with all levels of client and Med-Metrix leadership on matters related to revenue cycle management operations.
  • Oversee vendor and third-party resources, ensuring their performance aligns with client expectations and KPIs.
  • Accountable for the profitability and loss of client RCM activities, including workforce management and revenue projections.
  • Guarantee compliance with safety and regulatory standards at client sites, ensuring adherence by Med-Metrix personnel.
  • Facilitate prompt and direct resolution of client concerns, involving team members as needed.
  • Ensure operational team members respect and adapt to client cultural nuances to deliver an outstanding customer experience.
  • Perform additional duties as assigned by management.
  • Utilize, safeguard, and disclose patients' protected health information (PHI) in accordance with HIPAA regulations.
  • Limit access to PHI to the minimum necessary for the execution of assigned responsibilities.
  • Comprehend and adhere to Information Security and HIPAA policies and procedures consistently.

Qualifications

  • Bachelor's degree required; advanced degree preferred, particularly in Accounting or Finance.
  • Over 10 years of progressively responsible experience in financial leadership roles.
  • Experience in healthcare consulting, sales, or RCM operational management.
  • Detail-oriented with strong organizational skills.
  • Ability to perform effectively under pressure while maintaining a positive demeanor.
  • Exceptional customer service, communication, listening, and interpersonal skills.
  • Proficient in computer applications, including Microsoft Office Suite, with intermediate Excel skills.
  • Self-driven and resourceful, capable of multitasking in a dynamic team environment.
  • Able to work effectively both independently and collaboratively.
  • Adaptable to change, with the ability to prioritize tasks as necessary.
  • Strong analytical capabilities.

Working Conditions

  • Physical Demands: The role may require occasional movement within the work area, sitting, performing manual tasks, and operating office equipment.
  • Mental Demands: The individual must follow directions, collaborate effectively, and manage stress.
  • Work Environment: Typically, the noise level in the work environment is minimal.

Med-Metrix is committed to equal employment opportunities and will not discriminate against any employee or applicant based on race, color, religion, sex (including pregnancy, gender identity, and sexual orientation), parental status, national origin, age, disability, genetic information, political affiliation, military service, veteran status, or any other characteristic protected by law.