Director of Revenue Cycle Optimization & Innovation

Hartford Healthcare•Farmington, CT

About The Position

The Director of Revenue Cycle Optimization & Innovation will identify, organize and lead strategic initiatives to maximize revenue capture, streamline processes, drive efficiencies, and enhance financial performance across the revenue cycle. The Director will oversee the critical areas of Revenue Cycle Automation, System Optimization and Continuous Performance Improvement. Working closely with the system level leaders for innovation, the Director will have accountability for innovation and artificial intelligence initiatives that pertain to the revenue cycle team.

Requirements

Bachelor’s degree in Business Administration, Health/Public Administration, Finance, or related field
Ten plus years of progressive leadership experience in healthcare management in a revenue cycle or financial role
Proven track record of successfully implementing revenue cycle automation projects and achieving measurable improvements in efficiency and revenue
Excellent communication and interpersonal skills, with the ability to collaborate effectively across departments and levels of the organization
Self-directed, highly organized with extensive experience in workplan development and project management
Thought leader with deep industry knowledge of current healthcare trends, regulations, and policies
Strong analytical, problem-solving, data-driven decision-making and inductive reasoning skills, which manifest themselves in creative solutions that can be measured and tracked
Financial management skills, including the ability to financially analyze data for operations, budgeting, auditing, forecasting; basic accounting knowledge; AR and reserve analysis, market analysis; staffing and financial reporting skills
Exhibits a consistent commitment to continuous improvement through training, education, and continuous learning initiatives
Organizes and manages work to achieve results and tracks performance to proactively identify opportunities and mitigate risks

Responsibilities

Develop and execute a comprehensive revenue cycle optimization and continuous improvement strategy incorporating solutions across all revenue cycle functions that are aligned with organizational goals and leverage automation technologies and system optimization initiatives
Act as an influencer by proactively leading and being a knowledge base for the latest industry insights, performance benchmarks, and innovation trends
Collaborate with IT and operational teams to implement automated systems for billing, coding, claims processing, and revenue capture
Evaluate and recommend automation tools and platforms that align with organizational goals and regulatory requirements
Lead the identification, capture, and management of all automation opportunities through the discovery, proof of concept, and implementation stages
Establish a framework for continuous improvement within the revenue cycle, focusing on key performance indicators (KPIs) such as days in accounts receivable (AR), denial rates, and collection rates
Support the implementation of leading practices and standards to drive operational excellence and financial performance across the revenue cycle
Regularly evaluate the success of revenue cycle optimization programs, adjusting as needed to achieve organizational goals
Lead and oversee the deployment of standard work development, education, and training across the revenue cycle and supporting functions to drive process improvement, staff efficiency, and ongoing team skillset advancement
Lead the identification and evaluation of innovation and artificial intelligence opportunities within the revenue cycle
Lead the prioritization of identified solutions to establish projects to drive forward the execution of approved solutions / opportunities within revenue cycle
Research and monitor industry trends, regulatory changes, and emerging technologies impacting healthcare revenue cycle management
Ensure compliance with regulatory requirements and industry standards related to revenue cycle management, privacy, and security