Director of Revenue Cycle Management

Medical Billing Center is a Physical Therapist led company focused on optimizing client value and relationships through efficient and effective billing and collections.

Position Summary: 

The Healthcare Revenue Cycle Management Director is responsible for overseeing the entire revenue cycle process. This includes leading a team of Accounts Receivable (AR), Billing, Refund, Posting and Finance team Supervisors, ensuring efficient billing, collections, and payment processes. The Director will lead efforts to optimize financial performance, improve cash flow, and ensure compliance with regulatory standards.

Key Responsibilities: 

1. Leadership and Management:
• Lead and supervise a team of Supervisors and other revenue cycle staff to ensure optimal performance in all aspects of the revenue cycle process.
• Develop and implement audit and training programs to improve the skill set of the AR Supervisors and staff.
• Conduct regular performance reviews and provide ongoing coaching, guidance, and feedback to the team.
• Promote a collaborative environment between departments (e.g., billing, coding, finance, insurance) to improve revenue cycle efficiency.
• Coordinate team/client communication to maximize billing efficiency and promote client education.
2. Revenue Cycle Optimization:
• Oversee the entire billing and collections process, from receiving charges from the client through final payment.
• Collaborate with leadership to set goals for key revenue cycle metrics such as Days in Accounts Receivable (AR), net collections, DSO and clean claim denial rates.
• Identify process inefficiencies and develop strategies to improve cycle time, reduce denials, and accelerate collections.
• Implement best practices for payment posting, coding compliance, and claims follow-up to optimize the revenue cycle process.
3. AR Oversight:
• Ensure that AR Supervisors and their teams are effectively managing outstanding accounts, following up on unpaid claims, and resolving payment issues.
• Review and approve reports related to AR aging, denials, and adjustments, and ensure proper follow-up procedures are in place.
• Direct the resolution of escalated patient account and payer issues in a timely manner.
4. Financial Reporting and Analysis:
• Monitor key performance indicators (KPIs) such as aging AR days percentages, clean claim/denial rates, net collections, days to final payment and DSO.
• Analyze trends in the revenue cycle to identify areas for improvement and implement corrective actions as needed.
• Prepare and present regular reports on revenue cycle performance to senior management, highlighting challenges, opportunities, and achievements.
5. Compliance and Regulatory Standards:
• Ensure all revenue cycle processes comply with healthcare regulations and payer-specific requirements (e.g., HIPAA, Medicare, Medicaid, commercial payers).
• Stay current with healthcare billing and coding updates and regulatory changes to maintain compliance.
6. Collaboration and Communication:
• Collaborate with the finance, refunds, statements, posting and AR teams to align processes and address opportunities to gain efficiencies.
• Act as the primary point of contact for issues related to the revenue cycle and provide expertise and support to internal departments.
• Lead cross-functional meetings to resolve complex issues and improve processes across the organization.
7. Strategic Planning:
• Develop and implement strategies to improve revenue cycle performance and drive financial sustainability.
• Identify and recommend new technologies or processes that can improve efficiency and reduce operational costs.
• Provide insight and input for annual budget and financial planning, with a focus on improving collections and reducing revenue cycle costs.

Work Environment:

• Full-time position, with typical office hours.
• Remote work options may be available, depending on company policy.

Benefits for Full-Time Employees include but are not limited to: 

• Competitive salary, based on experience and qualifications.
• Medical/Dental/Vision insurance 
• 401K with 50% employer match up to 6% per check 
• Paid holidays 
• Paid time off 
• Company-paid employee life insurance 
• Voluntary life insurance options 
• Short and long-term disability options 
• Employee assistance program (including mental health services) 

Qualifications: 

• Education:
• Bachelor’s degree in Healthcare Administration, Finance, and/or Business Administration is preferred.
• Experience:
• 5-10 years of experience in healthcare revenue cycle management, including at least 5 years in a leadership or supervisory role managing AR teams.
• Experience with Physical Therapy, Occupational Therapy revenue cycle is preferred and hospital and physician group revenue cycle experience are a plus.
• Strong understanding of healthcare payer systems, claims processing, payment models, and denial management.
• Skills and Abilities:
• Exceptional leadership, coaching, and team management skills.
• Excellent analytical and problem-solving abilities, with a strong focus on improving key performance metrics.
• In-depth knowledge of healthcare regulations and compliance requirements.
• Strong communication skills with the ability to work collaboratively with a wide range of departments and stakeholders.
• Proficiency in revenue cycle management software (e.g., AdvancedMD, WebPT, or similar systems), Excel, and other office tools.

Physical Requirements: 

• Ability to work in an office environment and occasionally travel to healthcare facilities if necessary.