Job details

Executive Director of Revenue Management

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Company Description

Since 1964, Indiana families have looked to Miller's Health Systems for compassionate care for their loved ones. In that time, Miller’s Health Systems has grown to become an employee-owned health care provider. As operators of nursing care and senior living properties across the state, MHS offers a wide variety of employment and professional growth opportunities. To learn more about our company, visit us at: http://www.millersmerrymanor.com/about-us.

Job Description

The Executive Director of Revenue Management oversees revenue operations across multiple nursing home facilities, ensuring accurate billing, optimal reimbursement, and compliance with Medicare, Medicaid, and private insurance policies. This role involves collaboration with accounts receivable, monitoring revenue trends, reducing claim denials, and working closely with clinical, financial, and compliance teams to optimize financial performance.

Some tasks include:

Lead negotiations with insurance providers, including Medicare Advantage, Medicaid Managed Care, and private insurers, to secure favorable reimbursement rates.
Maintain a comprehensive database of all active contracts, tracking key terms, expiration dates, and renewal deadlines.
Collaborate with revenue cycle teams to ensure that negotiated contract terms are accurately reflected in billing and collections processes.
Work collectively with the Corporate Insurance Department on prior authorization and re-authorization processes for managed care insurance products.
Collaborate with the Insurance and Billing departments to optimize end-to-end revenue cycle processes, including patient intake, billing, coding, claims submission, and payment posting.
Analyze reimbursement rates and payer mix to identify revenue opportunities.
Conduct financial forecasting and budgeting related to revenue cycle performance.
Ensure adherence to federal, state, and payer-specific regulations.
Collaborate with legal and compliance teams to address regulatory changes affecting reimbursement.

Qualifications

Education & Experience:

Bachelor’s degree in Nursing, Finance, Healthcare Administration, Accounting, or a related field.
Minimum of 3-5 years of experience in healthcare revenue cycle management, preferably in a long-term care or skilled nursing facility setting.
Experience with Medicare/Medicaid reimbursement, managed care contracts, and private insurance billing.

Skills & Competencies:

Strong knowledge of healthcare billing, coding (ICD-10, CPT), and revenue cycle regulations.
Proficiency in electronic health records (EHR) and revenue cycle management software.
Excellent analytical skills with the ability to interpret financial and operational data.
Strong leadership, communication, and problem-solving abilities.
Ability to work cross-functionally and drive process improvements.
Clinical experience preferred

Additional Information

Some of the benefits we offer our employee-owners are:

Professional growth opportunities and the possibility for tuition reimbursement
Employee Stock Ownership Plan and 401(k) matching
Individual Health Care Reimbursement Arrangement, supplemental insurance options including dental, vision, and critical illness options
Company paid Life Insurance, with options to purchase additional insurance
Convenient access health care via telehealth and EAP program for mental health
Discounts on cell phone plans, travel, and more

Average salary estimate

$70000 / YEARLY (est.)

min

max

$60000K

$80000K

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What You Should Know About Executive Director of Revenue Management, Theracare INC

If you're ready to take on a significant role in healthcare finance, then the Executive Director of Revenue Management position at Miller's Health Systems in Warsaw, Indiana may be your perfect fit. Since 1964, Miller's has been dedicated to providing compassionate care to Indiana families, and as a team member, you'll be at the forefront of that mission. In this role, you'll oversee revenue operations across various nursing home facilities, ensuring that billing is accurate, reimbursements are maximized, and all policies, from Medicare to private insurance, are meticulously adhered to. A key feature of your day-to-day will be fostering relationships with insurance providers to secure the best rates for your facilities. You'll manage a comprehensive database of contracts, ensuring they align perfectly with our billing practices. You'll collaborate with corporate teams and lead the charge in optimizing our revenue cycle processes, which directly affects our financial performance. Your analytical skills will be crucial as you make sense of data trends and identify revenue opportunities. Coupled with your healthcare experience and knowledge of coding and regulations, this role provides ample opportunity for professional growth and impact. Joining Miller's means becoming part of a caring employee-owned organization that values your contributions and offers benefits like tuition reimbursement, health care options, and a solid retirement plan, making it a fulfilling place to grow your career.

Frequently Asked Questions (FAQs) for Executive Director of Revenue Management Role at Theracare INC

What responsibilities does the Executive Director of Revenue Management at Miller's Health Systems have?

The Executive Director of Revenue Management at Miller's Health Systems is tasked with overseeing revenue operations across multiple facilities. Responsibilities include accurate billing, optimizing reimbursements, negotiating with insurance providers, maintaining contract databases, and ensuring compliance with regulations. By collaborating with various teams such as accounts receivable and compliance, this role ensures optimal financial performance across the organization.