Finance Revenue Cycle Management Vice President

SUMMARY

The Vice President of Revenue Cycle Management will lead the strategic and tactical efforts of Sevita’s billing and collections team and will closely partner with corporate functions and operating group leadership to deliver results impacting the entire revenue cycle.

ESSENTIAL JOB FUNCTIONS

To perform this job successfully, an individual must be able to satisfactorily perform each essential function listed below.

• Influence business partners in operations, finance, and payers to optimize billing, collections, and cash application including vision and goal setting to optimize revenue cycle, performance versus budget, and cash flows.
• Staff, lead and motivate a team of Billing and Collection specialists, including billing, collections, and cash application, ensuring a performance management culture and achievement of challenging metrics.
• Monitor and impact key performance indicators (KPIs) like denial rates, days sales outstanding (DSO), clean claim submission rates (ensure completeness and accuracy of invoicing), and cash application identifying areas for improvement and taking corrective actions. Develop and execute comprehensive collections strategies to maximize cash flow and minimize outstanding receivables. Analyze customer data to identify high-risk accounts and implement targeted collection tactics.
• Ensure adherence to all healthcare regulations including HIPAA, coding guidelines, eligibility, authorization, and payer specific requirements. Ensure accurate and timely generation of customer invoices, including proper coding and data integrity. Monitor and address billing discrepancies. Implement process improvements to streamline billing procedures and reduce errors.
• Analyze claim denials, identify root causes, and implement strategies to reduce denials through effective root cause analysis, claim scrubbing, and appeals processes.
• Prepare and present regular Billing and Collection performance reports to leadership, highlighting key metrics and trends.
• Collaborate with IT to ensure efficient flow of data from Electronic Health Record (EHR) platforms into billing, collection, cash application, and denial workflow management systems.
• Performs other related duties and activities as required.

SUPERVISORY RESPONSIBILITIES

• Manages assigned personnel. Completes performance evaluations, orientation, and training. Makes decisions on employee hires, transfers, promotions, salary changes, discipline, terminations, and similar actions. Resolves employee problems within position responsibilities.

Minimum Knowledge and Skills required for the Job The requirements listed below are representative of the knowledge, skill, and/or abilities required to perform the job.

Education and Experience:

• Bachelor's Degree in healthcare administration, business administration, or related field.
• Minimum 10+ years of experience in a collections leadership role, preferably within a similar industry with comparable complexity and scale.
• Demonstrated track record of successfully leading a high-performance collections team and achieving challenging collection targets.

Certificates, Licenses, and Registrations:

• None

Other Skills and Abilities:

• Demonstrated ability to lead and manage a team of collections professionals, setting clear goals and achieving results.
• Strong understanding of accounting principles, billing processes, cash flows and banking, and affinity to harness technology for process efficiencies.
• Capability to identify and resolve complex revenue cycle challenges.
• Proficiency in communicating effectively verbally and in writing with various stakeholders including executives, operations, payers, and internal teams.
• Ability to analyze data, identify trends, and utilize insights to improve collection strategies.
• Thorough understanding of relevant collection laws and regulations.
• Comprehensive understanding of the entire revenue cycle, from eligibility, authorization, service documentation to billing, collection, and cash application.

Other Requirements:

• Travel as needed

Physical Requirements:

• Sedentary work. Exerting up to 10 pounds of force occasionally and/or a negligible amount of force frequently or constantly to lift, carry, push, pull, or otherwise move objects, including the human body. Sedentary work involves sitting most of the time. Jobs are sedentary if walking and standing are required only occasionally and all other sedentary criteria are met.
• The regular working hours for this position can be performed remotely; however, due to current business and employment requirements, we are unable to employ individuals in this role who will be working from Alaska, Hawaii, New York, Oregon, South Dakota, Vermont, Washington State, or Washington, D.C. Although the role is primarily remote, occasional in-person and related travel is an essential function of this position.

Sevita is a leading provider of home and community-based specialized health care. We believe that everyone deserves to live a full, more independent life. We provide people with quality services and individualized supports that lead to growth and independence, regardless of the physical, intellectual, or behavioral challenges they face.

We’ve made this our mission for more than 50 years. And today, our 40,000 team members continue to innovate and enhance care for the 50,000 individuals we serve all over the U.S.

As an equal opportunity employer, we do not discriminate on the basis of race, color, religion, sex (including pregnancy, sexual orientation, or gender identity), national origin, age, disability, genetic information, veteran status, citizenship, or any other characteristic protected by law

Originally posted on Himalayas