CareWell Health Medical Center
Vice President of Revenue Cycle
CareWell Health Medical Center, East Orange, New Jersey, us, 07017
Overview
The Vice President of Revenue Cycle (VP of RCM) for CareWell Health Medical Center reports to the CFO of CareWell Health and will have oversight over the hospital’s revenue cycle functions. The VP of RCM will be responsible for oversight and management of the day-to-day functions of the Patient Financial Services Department for CareWell Health to ensure accurate and timely patient registration, clinical coding, patient and payor billing, collections and analysis of patient accounts receivable with the goal of improving net revenue and cash flow through optimal management of the AR. The VP of RCM must maintain strong relationships with hospital senior leadership and will work collaboratively with the finance team on forecasting, budgeting and ensuring that internal controls are in place and followed regarding compliance and applicable federal, state and local regulatory laws and rules for financial tax reporting.
Essential Functions Develops, leads and improves revenue cycle workforce, processes, policies and procedures, and technologies to ensure they are consistent with an effective revenue management approach
Oversees the management and continuous improvement of the operational standards to positively impact the overall collection, financial yield, cost of collection, accounts receivable days, and the service experience throughout CareWell Health
Provides regular reports to members of the Executive Leadership Team, in written and presentation formats
Acts as a single point of accountability for CareWell Health's revenue cycle performance and improvement opportunities
In collaboration with Managed Care leadership, ensures effective compliance and management of contract terms related to reimbursement and other revenue cycle activities
Provide effective management by providing, assessing and teaching appropriate staff and promoting communications and feedback
Effectively manage information to meet the needs of the organizations by creating systems, analyzing data and providing timely reporting
Key areas of responsibility include oversight of the hospital registration, insurance verification, financial counseling, revenue integrity, clinical documentation improvement (CDI), health information management, patient financial services, training, and overall collection of patient service revenues across the revenue cycle
Establish goals and matrixes to measure the effectiveness of workflows and cash collections of patient accounts receivable
Analytic and decisive decision maker with the ability to prioritize and communicate to staff key objectives and tactics necessary to achieve organizational goals
Must be able to think creatively and strategically, in order to develop and implement management procedures
Detailed knowledge of 3rd party data and billing requirements
Must be process and data driven
Exceptional organizational skills with the ability to excel in fast-paced, deadline-oriented environment
Specific knowledge of Patient Accounting Protocol, financial systems, 3rd party, state and federal regulations, Fair Debt Collection Law, and broad knowledge of associated hospital systems and practice
Strong interpersonal skills, ability to communicate and manage well at all levels of the organization and with staff at remote locations
Strong problem solving and creative skills and the ability to exercise sound judgement and make decisions based on accurate and timely analyses
High level of integrity and dependability with a strong sense of urgency and results-orientation
Action-oriented, entrepreneurial, flexible, and innovative approach to management
Proven written and verbal communication skills with demonstrated leadership ability
Capable of developing and motivating people
Possess personal qualities of integrity, credibility, and commitment to organization’s mission
Other Duties
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.
Minimum Education/Certifications BS degree in relevant field required.
Minimum Work Experience Minimum 10 years of leadership experience in hospital revenue cycle management role.
Seniority level
Executive
Employment type
Contract
Job function
Finance and Sales
Industries
Hospitals and Health Care
#J-18808-Ljbffr
The Vice President of Revenue Cycle (VP of RCM) for CareWell Health Medical Center reports to the CFO of CareWell Health and will have oversight over the hospital’s revenue cycle functions. The VP of RCM will be responsible for oversight and management of the day-to-day functions of the Patient Financial Services Department for CareWell Health to ensure accurate and timely patient registration, clinical coding, patient and payor billing, collections and analysis of patient accounts receivable with the goal of improving net revenue and cash flow through optimal management of the AR. The VP of RCM must maintain strong relationships with hospital senior leadership and will work collaboratively with the finance team on forecasting, budgeting and ensuring that internal controls are in place and followed regarding compliance and applicable federal, state and local regulatory laws and rules for financial tax reporting.
Essential Functions Develops, leads and improves revenue cycle workforce, processes, policies and procedures, and technologies to ensure they are consistent with an effective revenue management approach
Oversees the management and continuous improvement of the operational standards to positively impact the overall collection, financial yield, cost of collection, accounts receivable days, and the service experience throughout CareWell Health
Provides regular reports to members of the Executive Leadership Team, in written and presentation formats
Acts as a single point of accountability for CareWell Health's revenue cycle performance and improvement opportunities
In collaboration with Managed Care leadership, ensures effective compliance and management of contract terms related to reimbursement and other revenue cycle activities
Provide effective management by providing, assessing and teaching appropriate staff and promoting communications and feedback
Effectively manage information to meet the needs of the organizations by creating systems, analyzing data and providing timely reporting
Key areas of responsibility include oversight of the hospital registration, insurance verification, financial counseling, revenue integrity, clinical documentation improvement (CDI), health information management, patient financial services, training, and overall collection of patient service revenues across the revenue cycle
Establish goals and matrixes to measure the effectiveness of workflows and cash collections of patient accounts receivable
Analytic and decisive decision maker with the ability to prioritize and communicate to staff key objectives and tactics necessary to achieve organizational goals
Must be able to think creatively and strategically, in order to develop and implement management procedures
Detailed knowledge of 3rd party data and billing requirements
Must be process and data driven
Exceptional organizational skills with the ability to excel in fast-paced, deadline-oriented environment
Specific knowledge of Patient Accounting Protocol, financial systems, 3rd party, state and federal regulations, Fair Debt Collection Law, and broad knowledge of associated hospital systems and practice
Strong interpersonal skills, ability to communicate and manage well at all levels of the organization and with staff at remote locations
Strong problem solving and creative skills and the ability to exercise sound judgement and make decisions based on accurate and timely analyses
High level of integrity and dependability with a strong sense of urgency and results-orientation
Action-oriented, entrepreneurial, flexible, and innovative approach to management
Proven written and verbal communication skills with demonstrated leadership ability
Capable of developing and motivating people
Possess personal qualities of integrity, credibility, and commitment to organization’s mission
Other Duties
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.
Minimum Education/Certifications BS degree in relevant field required.
Minimum Work Experience Minimum 10 years of leadership experience in hospital revenue cycle management role.
Seniority level
Executive
Employment type
Contract
Job function
Finance and Sales
Industries
Hospitals and Health Care
#J-18808-Ljbffr