The Chief Revenue Officer will be responsible for systemic approaches that contribute to the capture, management, and collection of patient service revenue. This position will work closely with the System Chief Financial Officer to establish and implement policies and procedures related to revenue cycle practices. This position will enhance and maintain a properly functioning revenue cycle process. The Chief Revenue Officer is responsible for the monitoring of the revenue cycle process and, along with other revenue cycle stakeholders, the improvement of the revenue cycle process through rate setting, charge capture, managed care negotiations, and cash collections, including but not limited to: maintaining and enhancing the revenue cycle process, including patient accounting, billing, collections, registration, medical records, vendor management, etc. through a cross-department organizational structure. Reviews and develops processes and systems to improve admissions and financial performance and generate cash flow and ensures account information contains accurate and comprehensive data to provide timely billing and optimal reimbursement for services.
Essential Duties:
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Lead all operational, financial, legislative, compliance, programmatic, and personnel activities for Revenue Cycle.
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Establishes and implements strategies that have long-term impact on business results (5+ years).
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Accountable for overall revenue cycle, revenue integrity/quality, and ensuring all billing compliance and government regulations are followed.
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Keep abreast of government regulatory requirements and the rapidly changing reimbursement environment to develop and implement changes to policies and procedures as needed.
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Plans, develops, and implements new systematic approaches to maximizing revenue and cash flow.
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Redesigns processes and systems used to set charges, negotiate with third-party payers, bill patients and insurers, file Medicare cost reports and claims, and pursue denied claims and delinquent accounts.
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Collaborate with executive leadership to identify opportunities for improving cash flow while also developing and executing business plans to maximize revenue cycle performance.
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Develop performance metrics to measure achievement of revenue cycle performance and financial goals.
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Ensures the development, implementation of and compliance with appropriate policies and procedures regarding the revenue cycle function across the health system.
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Coordinate Revenue Cycle activities with clinical and operational stakeholders across the enterprise.
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Ensures appropriate selection, organization, and leadership for major areas within the organization.
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Oversees and is responsible for leading internal hospital departments and ensuring staffing levels are optimized across revenue cycle and may include Patient Access (Registration, Patient Financial Services, Referrals and Authorizations), and other areas as assigned.
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Other duties as assigned.
Required Qualifications:
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Req Bachelor's degree Finance Bachelor’s degree required in Finance, Business, Health Administration, Public Administration, or related field, and practical knowledge of quantitative analysis techniques.
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Req 10 years 10 years of progressive healthcare management experience (5 years at a senior/executive level).
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Req Experience at multi-hospital systems with preference for academic health systems.
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Req Exceptional business knowledge, general management, and leadership capability to lead business or functional teams.
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Req Technical and operational capability to define and/or oversee program design in broad area of responsibility.
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Req Ability to negotiate and compromise, and ability to influence the strategic vision of the organization.
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Req Strong written and oral communication skills are essential.
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Req Ability to grasp complex concepts involving contracting and reimbursement relation to AR operations.
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Req Knowledge of registration, patient accounting, data processing, customer service, California Collection Law, and all insurance billing regulations.
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Req Effective communication with all customers. Ability to work with varying groups at all levels of the organization.
Preferred Qualifications:
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Pref Master's degree Master’s degree preferred in Business, Health Administration, Public Administration, or related field with an academic and practical foundation in advanced multi-variate quantitative analysis techniques.
Required Licenses/Certifications:
- Req Fire Life Safety Training (LA City) If no card upon hire, one must be obtained within 30 days of hire and maintained by renewal before expiration date. (Required within LA City only)
The annual base salary range for this position is $300,000.00 - $480,000.00. When extending an offer of employment, the University of Southern California considers factors such as (but not limited to) the scope and responsibilities of the position, the candidate’s work experience, education/training, key skills, internal peer equity, federal, state, and local laws, contractual stipulations, grant funding, as well as external market and organizational considerations.
