The Revenue Cycle is defined as all administrative functions that contribute to capture, manage and collection of patient service revenue. The Revenue Cycle Manager is responsible for enhancing and maintaining proper functioning revenue cycle processes through a cross departmental organizational structure.
The expertise of the Revenue Cycle Manager should include:
- Working knowledge in the areas of patient registration, billing, accounts receivable (A/R) and cash management requirements, hospital coding, release of information, privacy and compliance practices and regulations, managed care contractual terms and requirements, health insurance practices, industry regulatory requirements, business office operations, basic accounting, wage and hour regulations and industry standards for healthcare revenue resolution management practices.
- Development, execution and maintaining a detailed plan to improve the revenue cycle and continually reduce days in accounts receivable, increase cash collections, reduce bad debt write-offs, eliminate write-offs due to revenue cycle processes, improve registration accuracy, improve customer service and increase patient satisfaction.
- Ability to analyze and resolve problems that affect the claim submission process, regardless of whether the problem originates in the area under direct or indirect control.
- Financial management skills including the ability to financially analyze data for operations, budgeting, auditing and forecasting; basic accounting knowledge; A/R and reserve analysis; and staffing and financialreporting skills.
- Leadership skills to motivate cross-departmental team’s performance toward excellence and consensus building management styles.
- The ability to make a significant contribution to the organization’s overall effectiveness.
Bachelor’s Degree required, preferably in business, health or public administration, management or related field.
A minimum of 8 years management experience in the healthcare receivables field required, with a work record that demonstrates:
- In depth knowledge of hospital and physician billing and reimbursement
- Leadership in the core values of the organization
- Clear, effective communication skills.
- A mature approach to problem solving for all types of issues.
- Skills in the use of PCs
- IT system selection and experience
- Knowledge of medical terminology
- Negotiating skills
- Detail Orientation
- Knowledge of healthcare industry financial statistical indicators.
Knowledge and skill are vital to the position, which the incumbent will possess, include:
- Being knowledgeable in current healthcare trends and policies
- Strong verbal, active listening and written communication skills
- Must be a team builder and possess good interpersonal skills, including the ability to persuade others to change their minds or behavior and effectively work with all levels of the organization.
- Should be immediately recognized as a leader; must be self directed, thorough, and committed to a team approach.
- Must possess solid analytical skills and be able to make quick, effective decisions under pressure.
- Must have high energy and hold the capacity to successfully manage many projects and responsibilities simultaneously.
- Should have strong resource management skills, including the ability to effectively manage one’s time, finances, materials/facilities and personnel.
- Must possess personal and professional values such as integrity, honesty and loyalty.