The Director of Revenue Analytics accumulates, reports and analyzes revenue data, providing a high level of operational effectiveness as well as customer service during these processes. Tracks revenue cycle metrics and associated benchmarks. Collaborates with VP of Revenue Cycle & VP of Payer Engagement on special projects, reimbursement changes and key industry initiatives. Responsible for the tracking of key revenue cycle performance indicators and improving cash collections. This position will build and maintain relationships with patient access, coding, site leadership and other collaborative partners across the organization. Ensure processes are according to Joint Commission, Federal and State Regulations, Oceans’ mission, policies and procedures, and Performance Improvement standards.
- Responsible for monthly review and analysis of revenue for multiple hospitals.
- Interface with finance and accounting on revenue recognition, GAAP reporting and accuracy and completeness of revenue related items.
- Focus on continuous improvement within the revenue reimbursement area of influence and deliver the highest degree of quality service.
- Develop and monitor internal controls to quality of revenue reporting
- Stay current with reimbursement, billing procedures and requirements of major third party payers.
- Consistently apply appropriate procedures to prevent approved payables from becoming delinquent.
- Responsible for the oversight of billing system maintenance accuracy & integrity from a revenue recognition perspective.
- Has management responsibility for the support and direction of hospital level revenue cycle functions that are necessary for accurate revenue recognition.
- Responsible for data requests related to Medicare cost report preparation.
- Attends financial meetings, departmental meetings and others as needed.
- Ensure communication is consistent between the various Clinical, Technical and Revenue Cycle Teams
- Incorporate Oceans’ values into all business staff development practices and departmentally directed activities.
- Collaborate in reimbursement strategies for the physician fee and subsequent payment for reimbursement, adjustment projects, and audit appeals process to recover revenue.
- Maintain appropriate internal control safeguards over Reimbursement and Charge Capture activities.
- Maintain compliance standards for providing accurate information to all third-party payers, facilities or health system providers
- Assist in identification of new technologies that will improve departmental operations. Identity and communicate overall strategy for improvements to the revenue management cycle.
- Assist in assessing, designing and responding to organization and customers’ needs with innovative programs to ensure customer satisfaction.
- Performs other duties and projects as assigned.
Bachelor’s Degree in Accounting, Finance or Business administration from an accredited College or University or equivalent work experience. Must have extensive experience with data entry, clerical, finance and accounting abilities. Must have extensive knowledge and understanding of revenue analytics and financial statements. Prefer progressive management experience in a healthcare environment.
Experience in Microsoft Office such as Microsoft Word and Excel. General understanding of all revenue cycle functions and interrelationships. Hands on experience and knowledge in revenue analysis, process improvement, AR management and systems development/implementation. Must be versatile, flexible and able to perform in stressful situations. Must have good time management and organization skills. Strong written and oral communication skills. Must be able to organize and prioritize high volume workload. Extensive experience with data entry. Must analyze and utilize data and systems to provider individualized quality treatment in a cost effective manner. Must be able to function with minimal supervision and complete understanding and respect of confidentiality. Interprets and works toward policy and procedure modification that are in accordance with State and Federal Laws, JCAHO, HCFA and other regulatory boards as required by state and federal laws as well as the mission statement.