Chief Revenue Officer, C C H - Finance

Cook County Health

Full-time - Senior

Hospitals

About the position

The Chief Revenue Officer (CRO) at Cook County Health (CCH) is a pivotal leadership role responsible for the strategic direction and development of Revenue Cycle Management. This position aims to maximize revenue through a comprehensive approach that integrates clinical and operational leadership across various departments. The CRO will design and implement systems that enhance the patient financial interface throughout the continuum of care, ensuring best practices in cash collection, registration, insurance verification, coding, billing, and management of reimbursement errors. The overarching goal is to optimize reimbursement principles and improve the overall revenue cycle experience for patients. In addition to revenue cycle management, the CRO will engage in collective bargaining processes, reviewing applicable agreements and consulting with Labor Relations to formulate management proposals. This role also involves participating in negotiations and ensuring compliance with collective bargaining agreements through effective documentation and disciplinary actions when necessary. The CRO will contribute to the management of CCH staff, developing policies and procedures that align with the organization's goals and operational needs. The CRO will lead the end-to-end revenue cycle management functions, providing strategic direction for initiatives aimed at maximizing performance and optimizing reimbursement. This includes developing a revenue cycle strategic plan with both short and long-term goals, identifying automation opportunities to enhance efficiencies, and managing budgets to ensure internal controls are maintained. The CRO will also track and communicate revenue cycle performance, implement denial reduction strategies, and provide periodic reports to senior leadership on revenue cycle aspects and process changes. Furthermore, the CRO will serve as a subject matter expert, collaborating with clinical leadership to improve documentation, charge capture, and compliance with regulatory requirements, while staying informed about changes in reimbursement that could impact revenue.

Responsibilities

• Lead and manage the end-to-end revenue cycle management functions throughout CCH.
• Provide strategic direction in the development of initiatives to maximize performance and optimize reimbursement.
• Develop a revenue cycle strategic plan outlining short and long-term goals and monitor performance to plan.
• Identify, develop, and implement enhanced automation to drive revenue cycle efficiencies.
• Manage budgets and costs to ensure all internal controls are in place within all revenue cycle functions.
• Assist with financial statement close, internal/external audits, regulatory filings, budgeting, and forecasting.
• Track, monitor, and communicate revenue cycle performance.
• Develop and implement denial reduction management strategies.
• Provide periodic reports to senior leadership on revenue cycle aspects and opportunities to reduce costs or denials.
• Maintain compliance with regulatory requirements.
• Serve as a subject matter expert and provide reports to clinical leadership on documentation, charge capture, and compliance.
• Monitor performance of approved managed care and third-party contracts.
• Facilitate reporting for leadership on maximizing revenue while adhering to regulatory requirements.
• Ensure coding and billing practices meet or exceed industry standards.
• Build relationships with key stakeholders including payors and vendor partners.
• Attend and participate in meetings and discussions to enhance CCH revenue outcomes.
• Perform other duties as assigned.

Requirements

• Bachelor's degree in business administration, health administration, or finance from an accredited college or university.
• Five (5) years of experience in financial management or administration for an integrated health system.
• Three (3) years of experience with Revenue Cycle Management.
• Three (3) years of experience with third-party billing related activities for Medicaid, Medicare, and Commercial Managed Care contracts.
• Three (3) years of supervisory and/or managerial experience.
• Prior experience in a safety net or teaching hospital.
• Intermediate proficiency in Microsoft Office.

Nice-to-haves

• Master's degree in Business or related field from an accredited college or university.
• Project management experience.
• Electronic Medical Record experience, such as CERNER or EPIC.
• Experience in program or service implementation and performance improvement.