What are the responsibilities and job description for the Director of Revenue Cycle Business Operations & Finance - Revenue Cycle Solutions position at UTMB Health Careers?
Minimum Qualifications:
Bachelor’s Degree in Accounting or related field of study and 10 years of relevant work experience, including 5 years of management experience. Must have at least 5 years of experience in a Revenue Cycle environment.
Preferred Qualifications:
- Master’s Degree in Business or related field is strongly preferred.
- Experience in an academic teaching environment
- Proven track record building strong departments and teams
- Experience in a for-profit setting also preferred
- Epic Patient Accounting System experience.
Job Summary:
The Director of Business Operations and Finance (RCO) is responsible for the oversight and management of the business operations, including position control, vendor management, and the operating budget. In addition to assisting the Assistant Vice President, RCO, provide financial leadership and oversight, this role oversees the Credits Team, and the RCO Accounting Team. The Credits Team is primarily responsible for the timely review and resolution of credit balance items on patients’ accounts. The Accounting Team performs various accounting-related activities, including classifying, coding, posting, and balancing of all cash receipt and payments posted in EPIC. Additionally, they analyze and reconcile accounts, including but not limited to cash clearing, refunds, returned checks, and escheat accounts.
Job Duties:
- Responsible for managing Hospital credit accounts receivable and ensuring that all refunds are appropriate. Ensures organizational and industry standards are met.
- Responsible for the accurate and timely refund process and ensures that all transactions are posted accurately.
- Collaborates and communicates with all levels of leadership throughout the organization on denials trends and opportunities for maximizing reimbursement.
- Responsible for the coordination and provision of personnel and capital resources for Business Operations and Finance.
- Provides guidance and instruction in the interpretation of policies, procedures, and regulations.
- Ensures appropriate reconciliation of cash clearing accounts.
- Identifies and initiates improvements/efficiencies to the revenue cycle for both professional and technical revenue.
- Identifies appropriate internal controls for department; provides mechanisms to monitor and enforce compliance.
- Monitors changes in Federal Regulations and advises departments of the impact of pending regulation changes. Establishes policy to ensure compliance with all Federal MD regulations and insurance company requirements related to the revenue cycle for UTMB Hospitals and Clinics.
- Interacts with multidisciplinary personnel, including Chairmen, Institutional Leadership, Department Directors, etc., to ensure that processes are developed and maintained to maximize reimbursement to UTMB Hospitals and Clinics.
- Develops plans for recruitment and retention of direct subordinates and oversees the recruitment and retention of management and operational staff.
- Adheres to internal controls and reporting structure.
- Performs related duties as required.
Knowledge/Skills/Abilities:
- Strong financial management skills, including the ability to analyze data for financial reporting, budgeting, and forecasting.
- Effective problem solving, analytical, and decision-making skills.
- Knowledge of federal and state collection laws, Medicare, Medicaid, and other third-party pay or regulatory requirements.
- Knowledge of automated systems that support physicians' billing services.
- General knowledge of medical terminology and trends related to disease processes and technology available for detection and treatment.
- Strong communication and interpersonal skills with a high degree of professionalism in dealing with staff at all levels of the institution.
- Excellent relationship-builder and communicator and extensive knowledge of health care operations and physician group practices.
- Ability to develop, prioritize, and accomplish goals.
- Ability to analyze and evaluate data and make appropriate decisions/recommendations.
- Demonstrated project management and performance improvement skills.
- Financial acumen - Financial analysis and P&L interpretation skills, including ability to calculate cost benefit analysis and ROI, and help identify financial savings.
- Ability to implement change in a positive, sensitive and forward-thinking manner.
Salary Range:
Actual salary commensurate with experience.
- Equal Employment Opportunity
UTMB Health strives to provide equal opportunity employment without regard to race, color, religion, age, national origin, sex, gender, sexual orientation, gender identity/expression, genetic information, disability, veteran status, or any other basis protected by institutional policy or by federal, state or local laws unless such distinction is required by law. As a VEVRAA Federal Contractor, UTMB Health takes affirmative action to hire and advance women, minorities, protected veterans and individuals with disabilities.
