Vice President, Revenue Cycle

Huron; Chicago (IL); On-site; USD 200,000 - 250,000; Full time

Job summary

A leading professional services firm is seeking a Vice President of Revenue Cycle to provide strategic direction and oversight of revenue cycle operations across health systems. The role involves managing a team and driving performance improvements in a rapidly changing healthcare environment. The ideal candidate will have extensive experience in revenue cycle management and a proven track record of leadership.

Benefits

Medical Coverage

Dental Coverage

Vision Coverage

Wellness Programs

Qualifications

• 15-20 years of revenue cycle experience with progressive leadership.
• Experience managing hospital operations and financial/revenue cycle.

Responsibilities

• Oversees ambulatory and acute revenue cycle operations.
• Leads performance improvement initiatives for the client.
• Develops long-range strategic plans for revenue cycle.

Skills

Leadership

Strategic Planning

Revenue Cycle Management

Financial Analysis

Job description

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Huron helps its clients drive growth, enhance performance and sustain leadership in the markets they serve. We help healthcare organizations build innovation capabilities and accelerate key growth initiatives, enabling organizations to own the future, instead of being disrupted by it. Together, we empower clients to create sustainable growth, optimize internal processes and deliver better consumer outcomes.

Health systems, hospitals and medical clinics are under immense pressure to improve clinical outcomes and reduce the cost of providing patient care. Investing in new partnerships, clinical services and technology is not enough to create meaningful and substantive change. To succeed long-term, healthcare organizations must empower leaders, clinicians, employees, affiliates and communities to build cultures that foster innovation to achieve the best outcomes for patients.

Joining the Huron team means you’ll help our clients evolve and adapt to the rapidly changing healthcare environment and optimize existing business operations, improve clinical outcomes, create a more consumer-centric healthcare experience, and drive physician, patient and employee engagement across the enterprise.

Join our team as the expert you are now and create your future.

Formed in 2002, Huron is a global professional services firm committed to achieving sustainable results in partnership with our clients. We bring a depth of expertise in Strategy, Operations, Business Advisory services, Technology and Analytics to drive lasting and measurable results in the Life Sciences, Healthcare, Higher Education, and commercial sectors. We have worked with more than 450 health systems, hospitals, and academic medical centers, more than 400 colleges, universities, and research institutions; more than 125 life sciences organizations; and hundreds of Fortune 500 and midsize commercial businesses. Through focus, passion, and collaboration, we provide guidance to support organizations as they contend with the change transforming their industries and businesses.

At Huron, we know our legacy is dependent on our greatest asset, our people. We understand that when you are considering your next career opportunity, you are assessing how you can make the biggest impact and be challenged with the most rewarding work. Huron’s entrepreneurial spirit is captured in our values-based culture. Simply, it’s an unwavering commitment to always do the right thing by its clients, people, shareholders, and communities. Huron’s core values – integrity, collaboration, impact, intellectual curiosity, inclusion, excellence, and humility - capture the essence of who we are, how employees interact with others, and how business is conducted. In doing so, our shared values promise alignment of actions, incentives, and true results. It’s the Huron way.

In collaboration with the client senior leadership team, the Vice President of Revenue Cycle provides strategic direction and oversight of ambulatory and acute revenue cycle operations across the health system. The Vice President will report to Huron’s SVP of RC Operations and be the lead executive to effectively collaborate and communicate with the client executive team and finance committee. The role will be aligned with the client Chief Financial Officer.

The scope of the role includes overall leadership for the entire revenue cycle, overseeing a team of 38 Huron leaders and approximately 350 staff and supervisors. She/he will have direct management responsibility for the following functions across ambulatory and hospital locations: Registration (Hospital Only), Pre-Registration (Hospital Only), Patient Estimates (Hospital Only), Insurance Verification (Hospital Only), Pre-authorization Verification (Hospital Only), Financial Counseling, Coding, HIM, Revenue Integrity, Billing, Follow-up Collections, Cash Posting, Correspondence, Refunds, Self-Pay, Customer Service, Bad Debt, Revenue Cycle Training, Denial Prevention, Revenue Cycle Systems, and Vendor Management.

High-level Key Accountabilities: The successful candidate will be responsible for successfully leading and sustaining performance improvement initiatives that position the client for ongoing success and industry performance.

Strategy

• Develops long-range strategic plans for systems and processes that further advance revenue cycle performance and operational efficiency.
• Leads the implementation of strategic and operational plans for assigned functions that addresses operations, financial performance, customer service, IT, human capital, and regulatory requirements across the client.
• Ensures the overall revenue cycle strategy aligns with/supports business objectives and is focused enterprise-wide to maximize cash collections and manage cost performance.
• Leads the effort to build revenue cycle business literacy across the organization. Builds effective, collaborative relationships with key stakeholders across departments (e.g., Human Resources, Finance, and clinical departments).
• Collaborates with financial and information technology contributors to develop and operationalize a strategic roadmap.
  
  

Leadership

• Provides leadership support to result in effective, efficient, standardized, and compliant practices across the client.
• Organizes routine educational “in services” including regular meetings to support effective operations and the sharing of best practices.
• Develops and is the lead contributor on culture building and employee engagement at all levels.
• Creates strategies to continuously improve engagement and performance of the client leadership team.
• Provides Leadership spotlight updates in the client President’s Council, Transformation Steering Committee/Workgroups, Finance Committee, and Board meetings.
  
  

Revenue Cycle Project/Program Management

• Maintains strong understanding of revenue cycle metrics and leads team in building plans to support operational departments to achieve best practice performance through strong analytical capabilities, process improvement identification, and technology enhancements.
• Investigates and resolves complex problems and coordinates efforts to provide innovative strategies and solutions.
• Assesses new technology, performs vendor assessments, creates ROI analyses, and recommends new technology. Manages Revenue Cycle department budget and collaborates with the core client financial team.
• Establishes and maintains strong working relationships with Revenue Cycle leaders, key stakeholders, and fosters a strong working relationship with key strategic partners.
• Maintains strong understanding of system functionality and leads team in identifying and implementing functionality that improves revenue cycle performance, streamlines workflow, and reduces costs.
  
  

Process Design/Implementation/Operations/Management and Improvement

• Demonstrates a thorough understanding of the continuum of the revenue cycle.
• Continually improves operations through technology and process improvement.
• Effectively collaborates with IT and project management leaders for the successful planning and execution of revenue cycle-related applications/systems.
• Leads the organization to continuously improve its revenue cycle performance continuum through data and metrics.
• Develops options, communicates, and builds support for recommendations to allow the organization to meet changing environment/regulatory requirements.
• Performs evaluation, process redesign, and implementation of health care business office functions including admissions/registration to facilitate accurate/timely billing, collections, and denials management.
• Leads development and implementation of consistent policies, procedures, and productivity standards to improve operations system-wide.
• Tracks and monitors Transformation Workgroup progress for Revenue Cycle based initiatives.
  
  

Customer Service/Reporting

• Maintains strong customer relationships with key strategic partners.
• Ensures appropriate functional strategic partners are engaged throughout the process.
• Monitors and provides regular reporting to senior management on key performance metrics (e.g., actual versus expected results for financial targets, budgets, compliance, quality, customer service, and productivity/efficiency).
• Brings developing issues and recommended actions to the attention of senior leadership and the client President’s Council/Finance Committee.
• Ensures the quality of system deliverables, the quality of the work delivered by assigned functions and compliance with formal service agreements.
  
  

Revenue Cycle Risk Management

• Directs and/or oversees analysis of issues to identify developing issues/changes/potential risks with the potential to impact the client.
• Collaborates with the client to develop strategies and recommendations to mitigate risk (Ex. Internal Audit action plans).
• Develops, maintains, and ensures compliance with standardized policies, processes, programs throughout the organization.
• Provides oversight to ensure required reports are filed on time and meet the highest levels of accuracy, compliance, and effectiveness.
  
  

Overall Management

• Develops a high performing team as measured through the achievement of benchmark process outcomes, audit and compliance results, financial goals, and employee satisfaction.
• Stays current with government regulations regarding billing requirements.
• Drafts goals, objectives, and budgets for assigned areas, and monitors/manages to ensure achievement once approved.
• Ensures all HIPAA privacy and security standards are adhered to/followed.
• Conforms to the established policies/procedures/processes/Standards of Behavior and ensures assigned staff do so as well.
  
  

The Ideal Candidate: The successful candidate will have significant (15-20 years plus) revenue cycle experience with progressive leadership responsibilities for the management of hospital operations, and in particular, the financial/revenue cycle operations of a large health system. In addition, she/he will ideally have experience:

• Managing all aspects of revenue cycle operations from initial patient contact, to coding operations, through successful collection/reporting outcomes.
• Demonstrated track record of aligning the core values of the organization and proven negotiating skills.
• Revenue cycle-related healthcare provider-based design and optimization, consulting, and project management.
• Reviewing and managing contracts, managing contractor/vendor relationships, establishing service level agreements, and monitoring delivery of services provided.
  
  

The estimated salary range for this job is $200,000 - $250,000. The range represents a good faith estimate of the range that Huron reasonably expects to pay for this job at the time of the job posting. The actual salary paid to an individual will vary based on multiple factors, including but not limited to specific skills or certifications, years of experience, market changes and required travel. This job is also eligible to participate in Huron’s annual incentive compensation program, which reflects Huron’s pay for performance philosophy and Huron’s benefit plans which include medical, dental and vision coverage and other wellness programs. The salary range information provided is in accordance with applicable state and local laws regarding salary transparency that are currently in effect and may be implemented in the future.

Position Level

Senior Director

Country

United States of America

Seniority level

• Seniority level

  Executive

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  Business Consulting and Services

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