Position Summary:
The Director of Revenue Cycle Optimization & Innovation will identify, organize and lead strategic initiatives to maximize revenue capture, streamline processes, drive efficiencies, and enhance financial performance across the revenue cycle. The Director will oversee the critical areas of Revenue Cycle Automation, System Optimization and Continuous Performance Improvement. Working closely with the system level leaders for innovation, the Director will have accountability for innovation and artificial intelligence initiatives that pertain to the revenue cycle team.
Key Accountabilities:
- Develop and execute a comprehensive revenue cycle optimization and continuous improvement strategy incorporating solutions across all revenue cycle functions that are aligned with organizational goals and leverage automation technologies and system optimization initiatives
- Act as an influencer by proactively leading and being a knowledge base for the latest industry insights, performance benchmarks, and innovation trends
- Collaborate with IT and operational teams to implement automated systems for billing, coding, claims processing, and revenue capture
- Evaluate and recommend automation tools and platforms that align with organizational goals and regulatory requirements
- Lead the identification, capture, and management of all automation opportunities through the discovery, proof of concept, and implementation stages
- Establish a framework for continuous improvement within the revenue cycle, focusing on key performance indicators (KPIs) such as days in accounts receivable (AR), denial rates, and collection rates
- Support the implementation of leading practices and standards to drive operational excellence and financial performance across the revenue cycle
- Regularly evaluate the success of revenue cycle optimization programs, adjusting as needed to achieve organizational goals
- Lead and oversee the deployment of standard work development, education, and training across the revenue cycle and supporting functions to drive process improvement, staff efficiency, and ongoing team skillset advancement
- Lead the identification and evaluation of innovation and artificial intelligence opportunities within the revenue cycle
- Lead the prioritization of identified solutions to establish projects to drive forward the execution of approved solutions / opportunities within revenue cycle
- Research and monitor industry trends, regulatory changes, and emerging technologies impacting healthcare revenue cycle management
- Ensure compliance with regulatory requirements and industry standards related to revenue cycle management, privacy, and security
Qualifications:- Bachelor's degree in Business Administration, Health/Public Administration, Finance, or related field
- Ten plus years of progressive leadership experience in healthcare management in a revenue cycle or financial role
- Proven track record of successfully implementing revenue cycle automation projects and achieving measurable improvements in efficiency and revenue
- Excellent communication and interpersonal skills, with the ability to collaborate effectively across departments and levels of the organization
- Self-directed, highly organized with extensive experience in workplan development and project management
- Thought leader with deep industry knowledge of current healthcare trends, regulations, and policies
- Strong analytical, problem-solving, data-driven decision-making and inductive reasoning skills, which manifest themselves in creative solutions that can be measured and tracked
- Financial management skills, including the ability to financially analyze data for operations, budgeting, auditing, forecasting; basic accounting knowledge; AR and reserve analysis, market analysis; staffing and financial reporting skills
- Exhibits a consistent commitment to continuous improvement through training, education, and continuous learning initiatives
- Organizes and manages work to achieve results and tracks performance to proactively identify opportunities and mitigate risks
