Assistant Director of Revenue

Job Title: Director of Revenue Cycle Management (RCM) for Clinical Laboratory

Department: Billing

Reports To: Director of Revenue

About IHD Labs:

IHD Labs is a pioneering force in the clinical testing services industry, specializing in a broad range of clinical tests such as fertility, OBGYN, infectious diseases, and metabolic testing. Our state-of-the-art, 9,500-square-foot lab has the capacity to process over 10,000+ tests per day, serving various healthcare verticals.

Job Summary:

The Director of Revenue Cycle Management (RCM) plays a critical role in overseeing all financial processes associated with our patient care services. This role requires in-depth knowledge of revenue cycle operations, billing procedures, compliance regulations, and financial analysis, particularly in the context of clinical laboratory services. The Director of RCM is pivotal in ensuring accurate and timely revenue collection while optimizing revenue streams and enhancing overall financial performance.

Key Responsibilities:

Revenue Cycle Strategy:

- Develop, implement, and continuously update strategic plans for the revenue cycle, ensuring alignment with IHD Labs' goals and mission.

- Innovate and identify opportunities for process improvement, cost reduction, and revenue optimization.

- Lead the negotiation of payer contracts, both in-network and out-of-network.

Billing and Collections:

- Oversee billing processes, ensuring the accurate and timely submission of claims to maximize reimbursement rates.

- Lead the collections department to minimize accounts receivable and resolve billing discrepancies.

Compliance and Regulations:

- Remain updated on relevant clinical lab billing and coding regulations.

- Work closely with the compliance and legal teams to ensure all practices adhere to industry guidelines and federal and state laws.

Financial Analysis:

- Monitor and report on key performance indicators (KPIs) related to revenue cycle operations.

- Conduct financial data analysis to identify trends and areas requiring improvement in revenue generation and cost control.

Team Leadership:

- Provide leadership to the billing, collections, and underwriting teams, including mentoring, training, and performance evaluations.

- Create a team culture that encourages professional growth, development, and a high level of performance.

Vendor Relationships:

- Manage relationships with external partners such as billing software vendors, insurance providers, and collection agencies.

- Assess vendor performance and renegotiate contracts to ensure optimized services and reduced costs.

Process Improvement:

- Use data-driven methodologies to identify bottlenecks and inefficiencies within the revenue cycle and implement targeted solutions.

Reporting and Communication:

- Prepare quarterly and annual reports on revenue cycle performance for executive leadership.

- Collaborate with finance and other executive teams for comprehensive financial planning.

Qualifications:

- Bachelor's degree in Healthcare Administration, Finance, or a related field; Master's degree preferred.

- Minimum 5-7 years of experience in revenue cycle management within the clinical lab or similar industry. In-network and Medi-Cal experience required.

- Proficiency in healthcare billing software, preferably SLAR Seacoast Billing.

- Excellent analytical, problem-solving, and leadership skills.

- Strong communication skills, both written and verbal.

Job Type: Full-time

Job Type: Full-time

Pay: From Php50,000.00 per month

Schedule:

• Holidays
• Late shift
• Monday to Friday
• Overtime
• Weekends

Supplemental pay types:

• 13th month salary
• Yearly bonus

Ability to commute/relocate:

• Manila: Reliably commute or planning to relocate before starting work (Required)

Education:

• Bachelor's (Required)

Experience:

• Revenue Cycle Management: 5 years (Required)
• Accounting: 2 years (Required)

Application Deadline: 06/20/2024
Expected Start Date: 07/01/2024