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About the position
The Revenue Cycle Consultant position at Alvarez & Marsal (A&M) involves working closely with healthcare clients to address complex business challenges within the healthcare industry. The role focuses on revenue cycle management, operational performance improvement, and strategic growth, providing opportunities to engage with various healthcare sectors. Associates will utilize their analytical skills to develop financial models, conduct performance assessments, and implement best practices in revenue cycle operations, all while collaborating in a team-oriented environment.
Responsibilities
- Building and maintaining financial and operational models to assess client performance.
- Benchmarking internal and external data.
- Mapping out processes and managing both client and internal projects.
- Conducting client interviews and observations to define current state and capture actionable items for improvement.
- Creating flowcharts or process maps to visually represent current tasks from patient registration to final payment resolution.
- Analyzing and sampling data for root cause analysis.
- Implementing leading practice workflows across the full scope of revenue cycle operations.
- Preparing and communicating client-ready deliverables.
- Assisting with the development of presentations, pitch and proposal content.
Requirements
- A minimum of three (3) years of prior work experience in healthcare, consulting, or healthcare industry such as revenue cycle, hospital, accounting, audit, private equity, or healthcare operations with a healthcare focus.
- BA/BS degree and/or MBA/MS in Accounting, Finance, or other related healthcare fields such as MHA or MPH.
- Advanced Microsoft Excel, PowerPoint, and Word skills; experience with Tableau, SQL, SPSS, Power BI, Action O-I benchmarking, MGMA survey data are a plus.
- Knowledge of Revenue Cycle systems, operations, and regulations.
- Experience with workflow redesign and system implementation is preferred.
- Prior experience with revenue cycle in a hospital or larger health system.
- Experience with healthcare revenue cycle issues and solutions for improvement related to increasing collections, reducing DSOs, increasing efficiencies, and detailed knowledge of government and third-party payors.
- Excellent verbal and written skills, with the ability to communicate with and present information to all levels of client personnel.
- Solid project management and organizational skills.
- Ability to conduct operational data analysis and synthesize information to assist in the development of reports, KPI metrics and drive narrative development.
- Willingness and ability to travel as required.
Nice-to-haves
- Experience with Tableau, SQL, SPSS, Power BI, Action O-I benchmarking, MGMA survey data.
- Experience with workflow redesign and system implementation.
Benefits
- Healthcare plans
- Flexible spending and savings accounts
- Life, AD&D, and disability coverages
- 401(k) retirement plan with discretionary contributions
- Paid time off including vacation, personal days, sick time, federal holidays, and parental leave
- Discretionary bonus program based on individual and firm performance.
