Director, Revenue Cycle Management
Job Posting for Director, Revenue Cycle Management at MED-EL Corporation
MED-EL Corporation, located in Research Triangle Park and headquartered in Austria, is a worldwide leader in hearing implant research and technology and is committed to designing and manufacturing advanced hearing systems. We offer competitive salaries and benefits.
Our Mission: "Delivering leading-edge technology to restore hearing and empower connection."
Job Summary:
The Director of Revenue Cycle reports to Finance and is responsible for overseeing all revenue cycle activities, and development, implementation and quality assurance of all revenue cycle policies and procedures for MED-EL Corporation (DMEPOS). Oversees the management and continuous improvement of revenue cycle operations to positively impact revenue and collections. Leads and oversees efforts to reduce denials, eliminate inefficiencies. This position is matrixed and is also aligned with the VP of Customer Experience.
The ideal candidate will have a strong background in healthcare revenue cycle management, optimally in medical device where there is a long-term relationship for supplies and upgrades. Responsible to ensure the company’s revenue cycle processes from customer service to back-end billing and accounts receivable, are auditable, efficient, effective, and compliant with all relevant regulations, and federal, state, and payer-specific billing requirements.
Key Responsibilities:
- Leadership on Insurance Processing Systems and Process Optimization
- Primary responsibility for of oversight of use and optimization of a new insurance processing system (Brightree), involving aligning all documentation, features, processes, reporting and data to support integration of the new system while collaborating effectively with the teams focused on enhancing the customer experience.
- Diagnostic assessment of revenue cycle activities and current status and
- Work with leadership and teams on identified improvement opportunities.
- Plan for process improvement in the new system - including ensuring an effective control environment, reliable reporting, and oversight of all patient supplies sales activities
- Departmental
- Responsibility for revenue cycle policies and procedures that ensure compliance with all relevant regulations, including Medicare, state Medicaid programs, managed care organizations, and commercial payers
- Monitor and measure the quantitative performance of each group within the Revenue Cycle, addressing unfavorable trends and areas of risks
- Develop and align on a relevant performance reporting suite of metrics, and related structure of performance review meetings with team and departmental leadership to maintain and develop an accountable environment.
- Assess and analyze all services, identifying areas for improvement, and using data to support proposals and document results
- Stay abreast of improved tools or improvements available through existing vendor partners that can facilitate a better patient experience, and / or more efficiencies in the revenue cycle
- Ensure records related to insurance and self-pay services are complete, accurate, available and in compliance with legal, regulatory and policy requirements
- Manage A/R, Billing, and data integrity, including hiring, training, and performance management
- Oversee billing data integrity and act as partner to Business Systems to ensure consistent availability of systems that support our revenue cycle infrastructure
- Oversee relationships with major payers to ensure continued improvement in in-network status and optimal reimbursement
- Collaborate with other departments to ensure a seamless revenue cycle process.
- Maintain collection process to ensure prompt payment and optimal DSO.
- Leadership
- Develop a team with high standards and compliant service delivery
- Develop, coach and mentor people-leaders involved in the revenue cycle with the goal of building cohesive, mission-focused, patient-centered revenue cycle teams
- Create a working environment that encourages diverse opinion, defines high standards and recognizes and rewards staff for delivering on goals and objectives
- Incorporate organizational mission, values and goal-setting within directly-managed teams
- Collaborate effectively with leadership and management to align and oversee core revenue cycle deliverables, metrics and standards in allied teams
- Develop, monitor and maintain operational initiatives with measurable outcomes and adjust course as necessary and appropriate
- Prepare and deliver reports and presentations for peers, executive team, and staff
Qualifications:
- Minimum Bachelor’s degree in healthcare administration, business administration, or a related field. Master’s degree in healthcare administration, business administration, or a related field preferred
- Minimum of 5 years of progressively responsible experience in healthcare revenue cycle management and at least 3 years of leadership experience in healthcare revenue cycle management
- Strong knowledge of healthcare billing and collections processes, standards, regulations and requirements
- Experience in DME or DMEPOS or similar medical devices area (diabetes, sleep apnea, etc.) highly preferred
- Experience with Brightree highly preferred
- Experience with implementing a revenue cycle billing system preferred
- Advanced proficiency with MS Office, Teams, Excel
- Experience effecting change through managing managers and supervisors, analyzing and improving on processes and SOPs and education
- Documented and outstanding ability to work collaboratively and independently to achieve results. Must be a self-starter, originator, collaborator, planner and willing to grow from lessons learned
- Excellent communication and interpersonal skills. Must be able to communicate effectively and professionally with executive team, leadership and staff across the company, and external customers (payers, clinicians and recipients).
- Ability to work collaboratively with other departments to achieve common goals.
Salary.com Estimation for Director, Revenue Cycle Management in Durham, NC
$104,130 to $137,806
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