Vice President of Revenue Cycle

Job Summary

The Vice President of Revenue Cycle (VP of RCM) for CareWell Health Medical Center reports to the CFO of CareWell Health and will have oversight over the hospital’s revenue cycle functions. The VP of RCM will be responsible for oversight and management of the day-to-day functions of the Patient Financial Services Department for CareWell Health to ensure accurate and timely patient registration, clinical coding, patient and payor billing, collections and analysis of patient accounts receivable with the goal of improving net revenue and cash flow through optimal management of the AR.

The VP of RCM must maintain strong relationships with hospital senior leadership. This position will also work collaboratively with the finance team on all forecasting, budgeting and ensuring that all internal controls are in place/followed regarding compliance and applicable federal, state and local regulatory laws and rules for financial tax reporting.

Essential Functions

• Develops, leads and improves revenue cycle workforce, processes, policies and procedures, and technologies to ensure they are consistent with an effective revenue management approach
• Develops, leads and improves revenue cycle workforce, processes, policies and procedures, and technologies to ensure they are consistent with an effective revenue management approach
• Oversees the management and continuous improvement of the operational standards to positively impact the overall collection, financial yield, cost of collection, accounts receivable days, and the service experience throughout CareWell Health
• Provides regular reports to members of the Executive Leadership Team, in written and presentation formats
• Acts as a single point of accountability for CareWell Health's revenue cycle performance and improvement opportunities
• In collaboration with Managed Care leadership, ensures effective compliance and management of contract terms related to reimbursement and other revenue cycle activities
• Provide effective management by providing, assessing and teaching appropriate staff and promoting communications and feedback.
• Effectively manage information to meet the needs of the organizations by creating systems, analyzing data and providing timely reporting.
• Key areas of responsibility include oversight of the hospital registration, insurance verification, financial counseling, revenue integrity, clinical documentation improvement (CDI), health information management, patient financial services, training, and overall collection of patient service revenues across the revenue cycle
• Develops, leads and improves revenue cycle workforce, processes, policies and procedures, and technologies to ensure they are consistent with an effective revenue management approach
• Establish goals and matrixes to measure the effectiveness of workflows and cash collections of patient accounts receivable.
• Analytic and decisive decision maker with the ability to prioritize and communicate to staff key objectives and tactics necessary to achieve organizational goals. Must be able to think creatively and strategically, in order to develop and implement management procedures.
• Detailed knowledge of 3rd party data and billing requirements.
• Must be process and data driven.
• Exceptional organizational skills with the ability to excel in fast-paced, deadline-oriented environment.
• Specific knowledge of Patient Accounting Protocol, financial systems, 3rd party, state and federal regulations, Fair Debt Collection Law, and broad knowledge of associated hospital systems and practice.
• Strong interpersonal skills, ability to communicate and manage well at all levels of the organization and with staff at remote locations essential.
• Strong problem solving and creative skills and the ability to exercise sound judgement and make decisions based on accurate and timely analyses.
• High level of integrity and dependability with a strong sense of urgency and results-orientation.
• Action-oriented, entrepreneurial, flexible, and innovative approach to management. A savvy leader with proven team building skills.
• Proven written and verbal communication skills with demonstrated leadership ability. Capable of developing and motivating people.
• Possess personal qualities of integrity, credibility, and commitment to organization’s mission.
• Team building and cooperative work environment preferred.

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Minimum Education/Certifications

• BS degree in relevant field required.

Minimum Work Experience

• Minimum 10 years of leadership experience in hospital revenue cycle management role.

Salary/Benefits

CareWell Health provides a salary/hourly rate range for all open positions to comply with New Jersey Law. The rates listed for each position is a good faith determination of potential base compensation that may be offered to a successful applicant for this position at the time of this job advertisement and may be modified in the future. When determining a team member’s base salary and/or rate, several factors may be considered as applicable (e.g., specialty, service line, years of relevant experience, education, credentials, negotiated contracts, budget and internal equity). The salary range does not include bonuses/incentives, differential pay or other forms of compensation which can be discussed in detail with your talent acquisition specialist.

The salary/hourly rate range for this position is: $ 180K -$210K

Salary ranges shown on third-party job sites may not accurately reflect ranges provided by CareWell Health. Candidates should discuss salary/hourly compensation and details of our comprehensive benefits with our talent acquisition specialist if selected for an interview.

We offer an excellent benefit package including but not limited to the following benefit offerings:

• Health, Dental and Vision Insurance
• Basic Life and Disability Insurance
• Whole Life, Accident, Critical Illness and Hospital Indemnity Insurance
• Flexible Spending Accounts
• Employee Assistance Program
• 401(k)
• Paid Holidays and a generous Paid Time Off Plan\"