Director, Revenue Cycle Management - Orlando, United States - Abbott Laboratories

Description

Job Description

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 114,000 colleagues serve people in more than 160 countries.

Working at Abbott

At Abbott, you can do work that matters, grow, and learn, care for yourself and family, be your true self and live a full life. You'll also have access to:

• Career development with an international company where you can grow the career you dream of.
• Free medical coverage for employees* via the Health Investment Plan (HIP) PPO
• An excellent retirement savings plan with high employer contribution
• Tuition reimbursement, the Freedom 2 Save student debt program and FreeU education benefit an affordable and convenient path to getting a bachelor's degree.
• A company recognized as a great place to work in dozens of countries around the world and named one of the most admired companies in the world by Fortune.
• A company that is recognized as one of the best big companies to work for as well as a best place to work for diversity, working mothers, female executives, and scientists.

The Opportunity

This is a position within Abbott Medical Devices and works out of our Orlando, FL location in the Heart Failure division. In Abbott's Heart Failure (HF) business, we're developing solutions to diagnose, monitor and manage heart failure, allowing people to restore their health and get on with their lives.

The Director, Revenue Cycle Management is the overall management responsibility for optimizing all VOB, Insurance Data Management, Billing, Cash Application, and Collections, considering business objectives and operating compliantly at all times. The position requires a unique blend of customer service, procedural knowledge, technical knowledge, reimbursement knowledge, and managed care focus in order to work effectively with both internal and external customers. The Director will provide business analysis for critical information requests, process re-engineering, business change management, and metric analysis with respect to Business and People Performance. In addition, the Director will be directly responsible for defining and implementing the Revenue System/Controls roadmap, supporting periodic audit requirements, and developing a culture of rigorous controls to mitigate risk and ensure the existence of sustainable business practices. As a leader, this individual will need to operate as an influential member and partner with Compliance, Legal, Finance, Quality/Regulatory, Contracting, Operations, and IT functions, ensure compliance and quality of documentation, support sales and customer service goals, and adapt to changing business priorities as needed.

Primary Responsibilities

• Management of multiple departments across multiple facilities, working collaboratively to ensure the compliant, accurate, efficient and timely coordination of the revenue workflow, implementation of contract strategy, optimized cash collection, and internal/external compliance to executed payer agreements.
• Studies, analyzes and reports on internal and external trends, recommends opportunities to drive functional performance in order to deliver continuously improving financial revenue cycle outcomes and processes
• Vigilantly assesses for potential risks, exposures, and noncompliant circumstances while owning resolution of identified regulatory issues associated with areas of functional responsibility.
• Responsible for defining, managing to, and optimizing key performance metrics, including but not limited to DSO, Cash Conversion Cycle, Bad Debt, % of Billing/Revenue Collected, Employee productivity and capacity utilization, Denial Rates, Credit Balances, Contract effectiveness, Payer Performance, etc.
• Ensures compliance in all aspects of RCM activities including coding and billing rules and regulations by payer and state. Responsible for monitoring and responding to any legislation/regulatory billing changes. (i.e. ICD-10).
• Delivering Revenue Cycle efficiencies through Employee development, System selection/automation, Process design, Development of Payer Relations, avoiding waste/redundancy, and applying root cause assessment in order to deliver continuous Revenue Cycle improvements
• Delivering improved Revenue Cycle outcomes through execution of Pricing and Contracting Strategy and consideration of employee performance incentives
• Establishes and maintains relationships with provider networks and other departments to create effective business partnerships and controls.
• Investigates, initiates, and manages process and cost saving initiatives.
• Participates in planning and execution of programs and strategies.
• Provides guidance, coaching and performance management across a diverse set of team members. Manages staff to ensure overall service quality and compliance with all relevant internal policies and procedures.
• Follows all regulatory policies and procedures, privacy and security standards in accordance with government agencies to include including HIPAA requirements.
• Prepares and submits projects and/or reports timely and within budget.
• Revenue Cycle responsibilities spanning all existing businesses and supports definition and implementation of Revenue Cycle requirements in association with future businesses
• Operates as a contributing member of the executive team and drives for results as a business leader.
• Ensures Revenue Cycle goals are aligned at all times with overall Business Goals and Objectives.
• Ensures internal controls are sound and effective to ensure compliance with the Sarbanes-Oxley Act ("SOX") and Contributes to the establishment of SOX compliance for the business and is responsible for ensuring the implementation of that assessment.
• Partners with Finance on establishing quarterly cash collection and DSO targets.

Secondary Responsibilities

• Reviews policies and procedures for consistency across corporate wide entities.
• Identifies and assists with implementation of business processes and productivity improvements within areas of responsibility.
• Works collaboratively with senior leadership to ensure that company goals are met.

Requirements

• Bachelor's Degree (four-year college or university) in an applicable course of study (Finance, Management, etc.) preferred.
• Ten plus years related experience managing a multi-department organization with multiple disciplines strongly desired.
• Experience applying knowledge of medical insurance billing and collections across Medicare, Medicaid and managed care including ICD-10 and HCPC coding and terminology and associated healthcare compliance standards. Prior experience with direct support in the DME or IDTF compliance environment desired.
• Experience applying knowledge in collecting, analyzing and reporting revenue cycle management data used to identify opportunities and strategies for improvement.
• System assessment, implementation, and change control experience in a Revenue Cycle setting
• Certification or credential in coding and/or billing, such as Health Information Management (HIM), Registered Health Information Administrator (RHIA) or Registered Health Information Technician (RHIT) or equivalent healthcare coding and/or billing experience preferred.

Supervisory Responsibilities

• Ability to lead, manage and motivate a multi-functional team.
• Ability to manage and lead teams to ensure departmental goals and objectives are achieved and exceeded.
• Maintains a culture of accountability by setting clear objectives for all employees in areas of responsibility through regular follow-up, variance tracking and results.
• Ensures existence of challenging yet achievable goals across his/her functional area and aligned horizontally with key stakeholders and vertically with the business' strategic goals and objectives.
• Conducts accurate and timely assessment of subordinates through annual performance reviews.
• Maintains accuracy of time and attendance data for area of responsibility
• Conducts supervisory responsibilities in accordance with the organization's policies and applicable labor laws.

Participants who complete a short wellness assessment qualify for FREE coverage in our HIP PPO medical plan. Free coverage applies in the next calendar year.

Learn more about our health and wellness benefits, which provide the security to help you and your family live full lives:

Follow your career aspirations to Abbott for diverse opportunities with a company that can help you build your future and live your best life. Abbott is an Equal Opportunity Employer, committed to employee diversity.

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The base pay for this position is $143,300.00 – $286, In specific locations, the pay range may vary from the range posted.