Patient Financial Services Director

Overview

Under the general supervision of the Chief Revenue Officer, providing strategic leadership and direction for the patient financial services functions across the healthcare system. This role involves overseeing billing, collections, denials, cash posting, accounts receivable management, revenue cycle management, and other related processes to optimize revenue capture, ensure compliance with regulatory requirements, and contribute to the financial success of the organization. Must be able to meet performance goals to include, cash, A/R days, production by area, and denial reduction. The Director is responsible for monitoring changes in the healthcare industry impacting the billing and collection efforts of the Health System.

Responsibilities

• Develops and implements a strategic vision for patient financial services aligned with organizational goals.

• Collaborates with other leaders to integrate financial services into the overall healthcare financial strategy.

• Leads and manages a team of managers and staff responsible for billing, collections, revenue cycle management, denials, and cash posting for both professional and hospital teams.

• Develops and implements strategies to optimize the revenue cycle from patient registration through final billing and collection.

• Monitors key performance indicators related to revenue cycle management and takes corrective actions as needed.

• Stays abreast of healthcare regulations and ensures that financial services processes comply with federal, state, and local requirements.

• Develops and implements policies and procedures to maintain compliance.

• Oversees billing and collection processes to maximize reimbursement and minimize denials.

• Collaborates with patient access and clinical teams to address patients' financial concerns.

• Develops and implements training programs for financial services staff to ensure they are equipped with the necessary skills and knowledge.

• Stays informed about changes in healthcare billing and reimbursement and provides ongoing education to staff.

Qualifications

Education

• Bachelor's degree in healthcare administration, business administration, or a related field required.

• Master's degree preferred or equivalent experience.

Experience

• Several years of progressive leadership experience in revenue cycle management or related healthcare administration roles.

• Experience with managed care preferred.

Required Skills, Knowledge & Abilities

• Strong understanding of healthcare regulations and compliance requirements.

• Excellent communication, interpersonal, and leadership skills.

• Demonstrated ability to drive process improvement and optimize operational efficiency.

• Demonstrated skills in negotiation.

• Demonstrated verbal and written communication skills.

• Demonstrated conflict resolution, creative problem-solving, and critical thinking skills.

• Knowledge of healthcare financing, community and organizational resources, and data analysis.

• Knowledge of hospital billing, clinic billing, collections, cash posting, and revenue cycle processes.

• Excellent verbal and written communication skills required.

• Demonstrates flexibility and the ability to adapt to changing priorities and regulations.

• Basic computer skills required.

• Understanding of best practices for revenue cycle management, hospital and clinic billing, denials management, and cash collections.

Licenses & Certifications

• HFMA certification preferred.

• NAHAM certification preferred.