VP Revenue Cycle
Quincy, MA, USA | Boston Medical Center
Industry:Healthcare - Hospitals
Job Description:56 people have viewed this job
The objective of the Vice President Revenue Cycle is to manage all functions (hospital and professional) within the revenue cycle to include, but not limited to:
- Patient Access/Admitting, pre-registration
- Charge Description Master and revenue integrity functions
- Inpatient, outpatient and professional fee coding
- Clinical documentation improvement program
- Pre-financial clearance programs
- Utilization review oversight
- Hospital and professional fee billing
- Hospital and professional fee third party insurance collections
- Reimbursement related issues, including contract/underpayment and denial management
- Health information management, including documentation and coding
- Accounts receivable resolution and reconciliation
- Hospital and professional fee self-pay collections
- Management of all bad debt and related collection functions
- Revenue enhancement programs
- Cash application
- Revenue cycle quality improvement and auditing
- Training and development
- Information technology performance improvement
- Patient call center
- Patient and internal customer service
- Corporate imaging
- Billing compliance
- Management of credit balance accounts receivable
- All revenue cycle related activities related to any entity or physician practice acquisitions
- The VP will manage the above-mentioned activities of the Revenue Cycle to insure cost effectiveness and organizational efficiency. Furthermore, this position provides strategic direction to these functions and how the functions inter-relate to the other functions within BMCHS and the clinical enterprise including Senior Management and PO leadership.
- The VP communicates the departmental activities to BMCHS senior management and to PO leadership as it relates to cash collections, customer service, accounts receivable results and revenue enhancement activities.
- Develops implements and direct various quality initiatives to ensure continuous monitoring and improvements within the revenue cycle processes of BMC and BUMG. This includes managing an overall departmental operating/capital budget(s) within pre-determined limits to insure operational efficiencies and obtaining pre-determined performance targets.
- Negotiates and establishes SLAs and associated frameworks in support of the organization's goals. Manages, communicates and aggressively pursues enterprise accounts receivable targets. Develops key performance metrics and reports results to senior leadership.
- Works with business partners to interpret trends in key performance metrics which will guide management decisions for achieving the periodic goals of the revenue cycle and the overall financial performance of the enterprise.
- Ensures that appropriate controls exist throughout the enterprise to create accountability and effective management of the enterprise revenue cycle.
- Stays current with regulatory, third party payor and contractual changes affecting the revenue cycle to ensure compliance.
- Participates and/or chairs various committees to provide leadership and revenue cycle expertise.
- Manages and develops a results oriented team, including director, manager and supervisor levels. Continuously assesses and develops an organizational structure that ensures high performance and achievement of goals.
- Facilitates the communication, coordination, and implementation of any enterprise business process or information system that has been impacted by regulatory, industry, third party payers, federal, or state requirement.
- Ensures the delivery of high quality service to our patients in a cost effective manner, managing the revenue cycle in alignment with service s and associated scorecard metrics.
- Creates a customer service driven department adept at working collaboratively with physician and administrative colleagues throughout the Enterprise
- Holds ultimate accountability for revenue cycle strategic planning in support of the BMC and BUMG strategic direction and execution of the revenue cycle operating plan in support of the strategic plan.
- Demonstrates comprehensive understanding of inter-relationships of functional areas and how to enhance employee, financial and overall performance
- Supports and fosters opportunities to improve processes and acts as a catalyst for realizing these improvements
- Acts as a facilitator and generator of new ideas and a mediator on difficult issues
- Brings awareness of current external environment issues to the enterprise revenue cycle and the institution
- Leads the enterprise revenue cycle by chairing and serving on enterprise-wide projects/groups, task forces, councils and committees both internally and with key external organizations (providers, payers, associations, government, etc.)
- Creates and fosters a team oriented work environment
- Develops, coaches, and mentors staff for future leadership roles. Overall responsibility for succession planning and retention initiatives
- Ensures the planning, coordination, and preparation for year-end audits with public accounting firms and third-party auditors as they relate to enterprise revenue operations.
- Fiduciary responsibility for ensuring that compliance standards for providing accurate information on all patient billings are followed for the enterprise. Ensures compliance with relevant regulations, standards, and directives from regulatory agencies and third-party payers.
- Carries out other assignments or special projects as assigned.
- Bachelor's degree required, preferably in business, management or a related field.
- Master's degree in business administration, accounting, finance or related field is preferred.
- Minimum of 10 years management experience required in the healthcare receivables field demonstrating ever increasing and progressive responsibilities, particularly in an academic teaching facility and/or large system CBO environment.
- Candidate must possess extensive knowledge of hospital and professional fee revenue cycle and regulatory requirements as they relate to the revenue cycle.
- The individual must have significant experience with payers, providers, hospitals and physicians and understand the commensurate requirements for facilitating accounts receivable resolution, cash collections, billing, revenue enhancement and patient service issues.
- Incumbent must possess strong presentation skills with the ability to effectively communicate to many different audience levels. Familiarity with computerized applications is essential. Also, experience within a centralized business office processing hospital and professional fee claims is preferred.
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