Appalachian Regional Healthcare

Chief Revenue Officer

Job Locations US-KY-Lexington
Requisition ID
2022-25192
# of Openings
1
Category
Business Professional
Community
System Lexington
Posted Date
5 months ago(8/17/2022 8:56 AM)
Position Type
Regular Full-Time
Department
Fiscal/Accounting
Shift
Day Shift

Overview

Job Summary/Purpose: The Vice President of Revenue Cycle is responsible and accountable for the strategic planning, leadership, on-going continuous quality improvement, and financial strength stemming from revenue cycle operations across the entire spectrum of the system. The Revenue Cycle is a critical component of the overall financial performance of a continuously growing enterprise and it is essential that it operates with efficiency, effectiveness, and a track record of sustained positive patient experience and employee engagement. Maintaining an ongoing collaborative and cohesive effort to integrate front-to-back revenue cycle operations across the enterprise is an integral part of the overall vision and mission of the health system. It is essential that this role perform with the highest level of professionalism. Provides leadership for the System Director of Revenue Cycle and other key members of the revenue cycle leadership team to assure key metrics and objectives are met. Oversight and direction of the corporate revenue cycle including patient access, third party payer relations, rate setting, revenue integrity, coding, clinical documentation HIM, Utilization Review and corporate net revenue projections

Responsibilities

ESSENTIAL DUTIES & RESPONSIBILITIES

  • Functions as a change agent; leads the enterprise-wide development and implementation of revenue cycle strategies that are optimal and consistent with best practice processes in healthcare.
  • Provides support and information to the clinical staff with regards to health information with the goals of optimizing revenue and promoting billing compliance.
  • Assesses and responds to current and future internal and external healthcare trends in order to establish and ensure the necessary direction for the revenue cycle activities.
  •  Ensures that revenue cycle goals including clinical A/R days, cash and bad debt are delivered.
  •  Responsible for coordinating and enhancing the development of data collection, analysis and reporting processes for management of the revenue cycle, including information integrity validation and interpretation.
  •  Serves as the financial interface and expert between the billing, IT and clinical teams.
  •  Plans, coordinates and prepares year-end audits with public accounting firms and third party auditors as it relates to A/R operations.
  •  Maintains a collaborative, supporting relationship with management across the agency and encourages direct reports to ensure integration of client processes that will achieve optimal patient and financial outcomes.
  •  Directly participates in completion of various financial forecasts, including cost center salary and direct expenses, month-end financial reporting, receivables, cost center productivity and strategic plans for the department.
  •  Leads monthly Revenue Cycle Steering Committee Meetings, participates in revenue cycle, denial management, charge master and access management meetings.
  •  Ensures compliance with relevant regulations, standards and directives from regulatory agencies and third-party payers.
  •  Responsible for all claim submissions to primary and secondary payers. 
  •  Responsible for Accounts Receivable and denials management, including reporting/ accountability and resolution.
  •  Responsible for ensuring all collections are complete, timely and accurately posted into customer accounts using electronic clearinghouses.
  •  Monitors department staff productivity with key metrics and makes timely adjustments when/where needed.
  •  Analyzes and reviews billing requirements to maintain and improve clean claim rate submission and acceptance, bad debt reduction and other key revenue cycle indicators
  •  Monitors Accounts Receivable aging reports keeping collection percentages and corporate office within industry standards.
  •  Accountable for complete, timely and accurate delivery of recurring tasks and month end reporting functions.
  • Assume a key role in managed care contract negotiations and oversees the process to assure that payers are paying accurately pursuant to contracted rates.

SUPERVISORY DUTIES & RESPONSIBILITIES

  • Supervisory responsibilities include: interviewing, hiring, training employees, planning, assigning and directing work, appraising performance, managing employees, addressing and resolving internal matters.
  • Responsible for the overall direction, coordination and evaluation of assigned staff.

Qualifications

Minimum Training and Education: Bachelor's Degree in Business Administration; Health, Policy and Administration or equivalent required. Master's degree preferred and a certification through HFMA, AAHAM, MGMA is highly desirable. Must have ten years or more of demonstrated success with progressive growth in responsibilities and breadth and depth of experience. The candidate will demonstrate an extensive knowledge of professional and technical revenue cycle operations and be well versed in regulatory requirements. He/she will have served in a vital leadership position in complex health system, with community and rural settings that includes overseeing the full range of revenue cycle operations in multiple hospitals, medical groups, and other various medical settings. Experience and knowledge of clinical operations is essential to understand how to best manage revenue cycle processes often initiated by clinical operations across the enterprise.

 

 

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