System Director Patient Financial Services

Overview

Under the general supervision of the Chief Revenue Officer, providing strategic leadership and direction for the patient financial services functions across the healthcare system. This role involves overseeing billing, collections, denials, cash posting, accounts receivable management, revenue cycle management, and other related processes to optimize revenue capture, ensure compliance with regulatory requirements, and contribute to the financial success of the organization. Must be able to meet performance goals to include, cash, A/R days, production by area, and denial reduction. The Director is responsible for monitoring changes in the healthcare industry impacting the billing and collection efforts of the Health System.

Responsibilities

1. Develop and implement a strategic vision for patient financial services aligned with organizational goals.
2. Collaborate with other leaders to integrate financial services into the overall healthcare financial strategy.
3. Lead and manage a team of managers and staff responsible for billing, collections, revenue cycle management, denials, and cash posting for both professional and hospital teams.
4. Develop and implement strategies to optimize the revenue cycle, from patient registration to final billing and collection.
5. Monitor key performance indicators related to revenue cycle management and take corrective actions as needed.
6. Stay abreast of healthcare regulations and ensure that financial services processes comply with federal, state, and local requirements.
7. Develop and implement policies and procedures to maintain compliance.
8. Oversee billing and collection processes to maximize reimbursement and minimize denials.
9. Collaborate with patient access and clinical teams to address financial concerns of patients.
10. Develop and implement training programs for financial services staff to ensure they are well-equipped with the necessary skills and knowledge.
11. Stay informed about changes in healthcare billing and reimbursement and provide ongoing education to staff.

Qualifications

Minimum Education
Bachelor's degree in healthcare administration, business administration, or a related field; Master's degree preferred or equivalent experience.
Several years of progressive leadership experience in revenue cycle management or related healthcare administration roles.
Strong understanding of healthcare regulations and compliance requirements.
Excellent communication, interpersonal, and leadership skills.
Demonstrated ability to drive process improvement and optimize operational efficiency.

Minimum Work Experience
Demonstrated skills in the areas of negotiation, communication (verbal and written), conflict, creative problem solving, and critical thinking. Knowledge of healthcare financing, community and organizational resources, and data analysis.
Knowledge of hospital billing, clinic billing, collections, cash posting, and revenue cycle processes.
Experience with managed care preferred.
Excellent verbal and written communication skills required.
Demonstrates flexibility via an ability to adapt to changing priorities and regulations.
Basic computer skills required.

Required Licenses/Certifications

HFMA or NAHAM certifications preferred.

Required Skills, Knowledge, and Abilities

Understanding of best practice for revenue cycle management, hospital and clinic billing, denials management, and cash collections.