Posted: 08-Oct-24
Location: Vail, Colorado
Salary: Open
Categories:
Internal Number: 5345839004
Vail Health has become the world?s most advanced mountain healthcare system. Vail Health consists of an updated 520,000-square-foot, 56-bed hospital. This state-of-the-art facility provides exceptional care to all of our patients, with the most beautiful views in the area, located centrally in Vail. Learn more about Vail Health here.
Vail Health is seeking a strategic, forward-thinking Vice President of Revenue Cycle. We are looking for someone who is a collaborative and communicative partner, understands healthcare operations and is excited about working in a community-minded mountain environment. The ideal candidate for the role will be able to navigate the challenging healthcare environment, while guiding the organization to thrive despite the headwinds.
This position includes a robust executive variable compensation and benefits package.
The Vail Health Vice President of Revenue Cycle reports directly to the Chief Financial Officer and operates as a key member of the Finance Leadership team. The primary focus is to oversee and orchestrate the full spectrum of Vail Health?s revenue cycle. The revenue cycle enterprise encompasses the following areas/departments: Patient Access Functions (including scheduling - shared with clinical service departments, registration, and pre-service financial clearance), Health Information Management (including coding, documentation improvement, charge description master, and revenue integrity), and Patient Financial Services and Business Office functions.
The scope of this role covers all Vail Health owned, managed, and contracted entities excluding Vail Valley Surgery Center and minority owned joint venture ambulatory surgery centers.
- Align with the strategic vision of Vail Health and routinely problem solve revenue cycle issues to drive forward innovation and performance improvement across all revenue cycle departments and functions throughout the entire Vail Health system.
- Stay abreast of legislative, regulatory, and operational developments in the revenue cycle arena and develop actionable plans to implement needed changes in a proactive manner across the Vail Health system.
- Serve as decision making authority to meet changing priorities and continue to meet organizational outstanding accounts receivable and cash goals, budget requirements, and patient experience objectives.
- Direct Patient Access, Health Information Management, and Patient Financial Services/Business Office department leaders to ensure departments are meeting performance goals and maintaining compliance with regulatory mandates.
- Provide leadership, guidance, and support to revenue cycle staff and managers, and ensure adequate staffing, training, and development opportunities.
- Partner with the Finance Leadership Team synthesize data into timely and actionable information for Executive Leaders and other key stakeholders.
- Establish and maintain effective relationships with senior leadership, operational clients, external vendors, and other stakeholders to align revenue cycle goals and objectives with organizational vision and mission.
- Participate in business strategy and planning, management and financial reporting, enterprise architecture, IT strategy and planning, risk and compliance, patient experience, and market strategy and planning as requested.
- Monitor and analyze key performance indicators and metrics related to revenue cycle functions, such as net revenue, days in accounts receivable, denial rate, cash collections, and bad debt.
- Enhance patient satisfaction and loyalty by ensuring timely and accurate billing and collections, and resolve patient inquiries and issues related to revenue cycle matters.
- Explore new technologies and services related to revenue cycle, including, but not limited to artificial intelligence, machine learning, and novel software solutions, and develop potential use cases in the Vail Health system.
- Demonstrate capability to build alternative payment models and methodologies to reflect an evolving consumer base across multiple service lines and areas in the Vail Health system.
- Develop, manage, and control the annual operating budget for revenue cycle functions.
- Role models the principles of a Just Culture and Vail Health Values.
- Perform other duties as assigned. Must be HIPAA compliant.
- A minimum of ten years of progressive experience in healthcare finance management and detailed knowledge of the revenue cycle across the healthcare spectrum of settings is required. This role requires a strategic thinker with excellent leadership skills and the ability to thrive in a fast-paced, growth-oriented environment.
- Experience in hospital and professional billing is required, and ASC experience is preferred.
- Strong analytical, communication and organization skills; documented ability to facilitate collaboration among diverse constituents; and the ability to work effectively with other executives to achieve business objectives are required.
- Strong business skills, including strategic planning, executive presentation skills and business financial acumen.
- Proven knowledge of all revenue cycle functions as well as all Federal and State laws and regulations pertaining to the billing and collection for hospital and physician (both technical and professional) services. Strong accounting and finance knowledge and familiarity with auditing methods and financial systems management skills are required.
- Prior experience leading teams to improve processes around all revenue cycle functions to include central scheduling, registration, charge capture, coding and denial management.
- Strong technical financial skills and acumen. Must be information technology savvy, including multiple electronic medical record applications.
- Familiarity with performance improvement processes and change management concepts including Agile, Lean, Six Sigma, etc.
Applications:
- Multiple Revenue Cycle applications experience preferred including Cerner and Epic.
- N/A
- Healthcare Financial Management Association (HFMA) or Medical Group Management Association (MGMA) certifications preferred
- Must possess, or be able to obtain within 90 days, the computers skills necessary to complete online learning requirements for job-specific competencies, access online forms and policies, complete online benefits enrollment, etc. Proven experience with Microsoft Office suite.
- Bachelor's degree in business, healthcare administration, or related field required. Master's degree preferred. Degree must be obtained through an accredited institution. Education is verified.
Pay is based upon relevant education and experience per year.