Executive Director Revenue Performance
Steward Health Care System LLC ("Steward") is a fully integrated, physician-led national health care services organization committed to providing the highest quality of care in the most cost-efficient manner in the communities where our patients live. Steward - the largest privately held health care company in the U.S. - owns and operates 35 community hospitals across nine states, serves over 1,000 distinct communities and employs approximately 40,000 health care professionals. In addition to our hospitals, the Steward provider network includes 4,800 providers, 25 urgent care centers, 87 preferred skilled nursing facilities, substantial behavioral health offerings, over 7,300 hospital beds under management, and approximately 1.5 million full risk covered lives through the company's managed care and health insurance services.
Steward Medical Group (SMG), Inc. is Steward's multi-specialty group practice with over 4,500 employees including over 1,800 physicians and advanced practitioners. SMG operates approximately 450 practice locations throughout Massachusetts, Southern New Hampshire, Rhode Island, Pennsylvania, Ohio, Florida, Utah, Arizona, Texas, Louisiana and Arkansas, and provides more than 4 million patient encounters per year.
Reporting to the Senior Vice President of Revenue Cycle & Strategic Initiatives, this management level Executive Director is responsible for the majority of Revenue Performance functions throughout the Steward Medical Group system utilizing consultative, persuasive, direct leadership and centralized/ decentralized management methods. Revenue Performance is expected to identify how best to use system-wide resources encompassing Revenue Performance Management, Business Analytics, Revenue Recognition, Project Management and Systems Management with the goal of optimizing reimbursement and maintaining compliance. The Executive Director will also be responsible for driving positive culture and collaborating effectively with all areas of the organization.
• Provides cultural and strategic thought leadership along with the rest of the leadership team across the Revenue Cycle Management continuum.
• Defines and implements long term strategies to create revenue cycle operation scale and/or to position the organization to react and manage more quickly and effectively to future payment and collection challenges.
• Identifies and drives projects that will maximize reimbursement and reduce bad debt.
• Partners with Practice Operations to identify and drive projects that drive additional revenue and/or reduce bad debt.
• Drives consensus among key stakeholders.
Cash Flow Generation
• Directs, manages, and implements programs and strategies to ensure efficient operation of revenue cycle in order to generate the optimal cash flow.
• Coordinates and directs internal staff, vendors, and external resources, such as consultants and subject matter experts, in order to meet the specific objectives and time tables for identified revenue cycle initiatives and related strategies.
• Develops and implements centralized revenue cycle solutions where the value proposition indicates revenue or cost improvement opportunities.
• Drives vendor performance and accountability
• In concert with the senior financial leadership, accountable for identifying key data points to support contract negotiations and impact of changes to contractual terms.
• Identify challenges and opportunities with payors and contracts with substantial financial impact and work with Managed Care team on approach.
• Partners with Information Technology to determine long-term Revenue Cycle Management infrastructure requirements and solutions.
• Drives successful data-driven business decisions using reportingtools, data warehouse and other tools as needed
• Leading key projects and implementations including the Project Management and Systems resources to facilitate successful execution.
• Participate as an essential business stakeholder in analyzing impact of IT initiatives on Revenue Cycle.
• Provides knowledge transfer, project management, facilitation, analytical support, and communications, depending upon the nature of the initiative.
• Prepares internal or external readiness teams that can assist Members when experiencing turnover or other revenue distress.
• Reviews, monitors, and assists in the explanation of performance against budget and benchmarks.
• Develop dashboards and framework for measuring performance at the market and practice level for activities with revenue impact.
• Ensures compliance with all Federal and State regulations regarding billing procedures.
• Establishes effective internal controls regarding all functional work flows
• Models service orientation to internal and external customers; ensures service delivery is among the top priorities for revenue cycle operations.
• Sets the bar for teamwork by proactively jumping in to assist when needed
• Provides leadership in support of the organization's mission/vision/values, providing guidance and direction in a complex environment. Effectively manages financial and human capital resources. Role models desired leadership behaviors including, but not limited to: integrity, ethics, trust, open and honest communications. Directs performance holding self and others accountable for creating a high performance, highly engaged organization delivering high quality services to those served by the organization.
Required Minimum Knowledge, Skills, and Abilities
• Bachelor’s degree in a related field required, Master’s degree preferred.
• Minimum of ten (10) years or relevant experience with a track record of progressively responsible positions in a complex healthcare related organization such as multi-hospital system, large group practice or a major healthcare consulting firm preferred.
• Broad understanding and experience within acute care hospital, physician practice operations, and other health care services.
• Demonstrated progression in experience and responsibility in revenue cycle operations including practice operations management, accounts receivable management, and Health Information Management with a proven track record of leading complex projects to successful completion.
• Strong working knowledge of managed care contracting strategies, billing and collection processes and functions, practice operations , Health Information Management, and general revenue cycle management strategies, and industry best practices.
• Knowledge and application of Performance Improvement concepts.