Vice President, Finance and Chief Revenue Cycle Officer - Nashville, United States - Vanderbilt Health

Description

Discover Vanderbilt University Medical Center:

Located in Nashville, Tennessee, and operating at a global crossroads of teaching, discovery, and patient care, VUMC is a community of diverse individuals who come to work each day with the simple aim of changing the world.

It is a place where your expertise will be valued, your knowledge expanded, and your abilities challenged. Vanderbilt Health recognizes that diversity is essential for excellence and innovation.

We are committed to an inclusive environment where everyone has the chance to thrive and where your diversity of culture, thinking, learning, and leading is sought and celebrated.

It is a place where employees know they are part of something that is bigger than themselves, take exceptional pride in their work and never settle for what was good enough yesterday.

Vanderbilt's mission is to advance health and wellness through preeminent programs in patient care, education, and research.

Organization:

Office of Finance Executive

Job Summary:

Vanderbilt Health - Executive Search Team is conducting a national search for
a Vice President, Finance and Chief Revenue Cycle Officer.

Reporting directly to the Chief Financial Officer and Treasurer of VUMC, the Vice President, Finance and Chief Revenue Cycle Officer (CRCO) will oversee and orchestrate all phases of the VUMC integrated revenue cycle operation encompassing 7 hospitals, 2,400 Vanderbilt Medical Group and Vanderbilt Integrated Provider employed physicians and select joint ventures within Vanderbilt Health Services.

The CRCO will lead a revenue cycle operations team of 930 talented employees focused on a goal of continued improvement and excellence evidenced by leading national measures for revenue cycle performance.

As a key revenue leader, the CRCO will work closely with business leaders across the organization including, Hospital and Ambulatory clinic senior leadership, Vanderbilt Medical Group and Vanderbilt Integrated Providers leadership, Health Information Technology, Managed Care Contracting, and Access Services, to run the entire revenue cycle function in a highly operational and financially efficient manner.

A highly visible position within the organization, the CRCO serves as an advisor to the leadership team regarding accounts receivable management and strategic revenue cycle operations and acts as a key leader within the VUMC Finance team.

As an integral part in the overall growth and performance of VUMC, the CRCO will drive integration and transformation throughout the revenue cycle to decrease denials, accelerate cash collections, increase reimbursement, lower cost, ensure compliance, and eliminate waste, delay, and inefficiency.

The CRCO will ultimately be responsible for $5.2B in annual clinical cash collections, working in conjunction with VUMC Finance resources to provide the optimized results that meet or exceed established net revenue collection targets of 100%.

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Key Priorities & Outcomes
The CRCO will have a broad set of responsibilities including:

Ensure the revenue cycle is a highly strategic function, meeting and supporting enterprise financial and operational goals.
Direct and oversee the following areas:

Pre-visit services including pre-registration, financial clearance, financial counseling, and hospital onsite registration.
Health Information Management, Clinical Documentation Improvement, Utilization Management, and revenue integrity (not including charge master management).

Accounts receivable management including insurance patient billing and collections, denials and underpayment management, cash application and credit balance resolution, self-pay collections and customer service.

Physician revenue cycle practice support which drives new practice integration within revenue cycle operations and work with the clinical departments to support continuous improvement.

Revenue cycle business support including training and education, vendor management, reporting and analytics, systems support (including AI and automation), and quality assurance.

Create an optimized, best-in-class integrated revenue cycle function for VUMC with an immediate focus on:

Cultivate a collaborative culture through teamwork that enables VUMC to accomplish its

vision

to be the world in advancing personalized health, its

mission

for personalizing the patient experience through caring spirit and distinctive capabilities, as well as strategic priorities.
Complete the 3M(tm) 360 Encompass(tm) system design and implementation.

Analyze revenue cycle performance metrics, identify areas for improvement, and implement data-driven and technology-based strategies, where relevant, to maximize revenue while minimizing underpayments, denials, and write-offs.

Collaborate closely with the Managed Care Contracting team to ensure full compliance, as well as ideal contract terms and payments from payers.

Also, supports in conjunction with Managed Care Contracting external interaction with key personnel at payer organizations, federal and state intermediaries, as well as hospital associations to keep abreast of third-party guidelines and rules, state mandates and federal regulatory requirements.

Also, Co-Chair / Leader for Clinical Revenue Compliance Committee.

Evaluate outsourcing/vendor needs, assess current performance and service levels as well as contracts to ensure all goals are being met and contracts are negotiated on optimal terms.

Continue the use of technology to improve workflow, reporting, quality, efficiency, patient and clinician experience, and to reduce costs.
Ensure VUMC continues to achieve a minimum of 100% collection of health system annual net revenue.

Supervise all revenue cycle staff, recruit, motivate, develop, and retain a superior functional leadership team.

Implement a management system that is outcomes-focused, encourages efficiency and automation, drives performance, and effectively develops and rewards key performers.

Develop financial and productivity metrics to monitor and promote understanding of revenue cycle performance. Create internal and external financial user-friendly reports that support daily management, analysis, and discussion.

Measure and monitor key performance metrics and deliver concise performance reporting to key stakeholders with corrective action plans for variances, as appropriate.

Promote adoption of rigorous standards and best practices across the revenue cycle. Implement additional checks and controls to assure high reliability of systems and processes.
Maintain comprehensive policies, procedures, and documentation to validate revenue cycle processes and related controls.
Communicate and educate VUMC leadership regarding revenue cycle operations. Integrate facilities, physician practices, and joint ventures into the revenue cycle organization, as directed by executive leadership.
Oversee the implementation of any software applications or technology enablers that improve the overall functionality of the revenue cycle. This may include installation and/or enhancements to the core patient account applications or other technologies.

Leverage knowledge of both hospital and physician operations and patient flow to identify "cause-and-effect" scenarios that impact the effectiveness of the receivables management process along with a thorough understanding of patient intake processes, including utilization review guidelines, payer certification/authorization requirements, EMTALA regulations and special entitlement program requirements.

Maintains an annual operating budget for the integrated revenue cycle.
PROFESSIONAL EXPERIENCE, QUALIFICATIONS, & TRAITS
Minimum of 10 years in health care financial management, including revenue cycle financial management and leadership experience required.

Career track of progressive, documented accomplishments in increasingly complex revenue cycle management roles in a large, complex organization or multi-facility enterprise.

Ideal professional record demonstrates the capacity to establish leadership of a service-oriented function within a multi-faceted academic healthcare enterprise.

If currently working within a revenue cycle vendor, consulting firm, or non-academic health system, additional previous experience would preferably include experience, in some level of leadership capacity, at an academic medical center.

Epic experience required.

Collaborative, data-oriented, and results-driven leader with a demonstrated track record of positive impact on the full revenue cycle within both an acute and ambulatory health care provider setting.

Effective in working across revenue cycle stakeholders including, but not limited to, finance, managed care, reimbursement, Health Information Technology, physicians, clinical operations, and case management.

Ability to drive the decision-making process through data and influence, as well as presenting and evaluating solution options, and driving consensus among key stakeholders.

Strategic-thinker, who is able to see the full picture, who is also able to turn a vision into a workable plan, further facilitating others' involvement to map a clear direction and execute on a common goal.

Change agent, able to act and provide leadership throughout the change process, who engages employees in the entire life cycle and is able to develop commitment for sustaining change.

Analytical thinker with the capacity to impose the discipline necessary to meet challenging financial goals.

Proven financial analysis skills, including detailed cost / benefit analyses, and extensive experience with a broad array of data management strategies.

Proven record for developing organizational talent, with ability to recruit, retain and develop high performing individuals aligned with the organization's goals, mission, and values.

Dedicated coach and mentor who provides continuous feedback, encouragement and coaching to employees.

Ensure all direct reports have development plans that increase their effectiveness and/or prepare them for future opportunities and expanded roles.

Facilitates meaningful recognition for team and individual accomplishments.
Characterized as a person of the highest integrity, trustworthy, credible, honest, caring, and has the ability to inspire others.

Proven ability to build positive, effective relationships and work successfully from a position of influence in a large complex matrix organizational structure throughout VUH and VUMC.

Effective communicator, focused on ensuring top tier patient, provider and colleague experiences and interaction at every level.
Highly flexible and agile leader that can adapt quickly to a dynamic, ever-changing healthcare environment.
Member of key professional organizations (HFMA, AHIMA, etc.) preferred.


EDUCATION
Master's degree in Business, Finance or Health Administration preferred.

Our professional administrative functions include critical supporting roles in information technology and informatics, finance, administration, legal and community affairs, human resources, communications and marketing, development, facilities, and many more.

At our growing health system, we support each other and encourage excellence among all who are part of our workforce.

High-achieving employees stay at Vanderbilt Health for professional growth, appreciation of benefits, and a sense of community and purpose.

Core Accountabilities:

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Core Capabilities

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Position Qualifications:

Responsibilities:

Certifications:

Work Experience:

Relevant Work Experience
Experience Level:

7 years

Education:

Master's

Vanderbilt Health recognizes that diversity is essential for excellence and innovation.

We are committed to an inclusive environment where everyone has the chance to thrive and to the principles of equal opportunity and affirmative action.

EOE/AA/Women/Minority/Vets/Disabled

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