VP Revenue Cycle Shared Services

Key Responsibilities

Strategic Leadership

• Lead the shared services functions that support the end-to-end revenue cycle, providing scalable, high-quality solutions for the enterprise.
• Align shared services strategy with health system priorities and revenue optimization goals.
• Drive integration, operational excellence, and performance improvements across all areas of responsibility.
• Serve as an advisor to other operational RCM Vice Presidents and works closely with VP of Transformation

Vendor Management

• Oversee relationships with revenue cycle vendors, including billing support, clearinghouses, payment processors, and collection agencies.
• Collaborate with Vice President of Transformation on holistic vendor strategy
• Establish performance standards, KPIs, and contractual service level agreements (SLAs).
• Evaluate vendor performance, manage risk, and lead contract negotiations or renewals.

Quality Audits & Compliance

• Design and oversee a system-wide quality audit program for revenue cycle processes (billing, collections, cash posting, etc.).
• Regularly reevaluate audit programs for effectiveness, redesign as needed
• Ensure compliance with federal, state, and payer-specific regulations (e.g., HIPAA, CMS guidelines).
• Report findings and lead continuous improvement initiatives to reduce errors, rework, and revenue leakage.

Training & Staff Development

• Lead the design and implementation of a standardized training and onboarding program for all revenue cycle staff.
• Ensure ongoing education and competency development aligned with role-based requirements and regulatory changes.
• Partner with HR and department leaders to ensure training effectiveness and staff retention.

Cash Application Operations

• Oversee centralized cash posting operations to ensure timely, accurate reconciliation of patient and payer payments.
• Collaborate with finance, accounting, and IT to resolve posting exceptions, lockbox issues, and system upgrades.
• Monitor KPIs such as unapplied cash, posting timeliness, and accuracy rates.

Payer Enrollment & Credentialing

• Manage the enterprise-wide payer enrollment and provider credentialing functions for timely onboarding and maintenance of provider participation.
• Ensure compliance with payer requirements and minimize delays in claims processing and reimbursement.
• Collaborate with Managed Care and Provider Relations to support contracting initiatives.

Correspondence & Document Management

• Oversee the intake, routing, and resolution of revenue cycle correspondence including payer letters, appeals responses, patient inquiries, and legal documents.
• Standardize workflows and implement automation or scanning solutions to improve efficiency and tracking.
• Ensure compliance with retention policies and response timelines.

Revenue Cycle Budget & Financial Oversight

• Develop and manage the shared services operational budget, including staffing, systems, and vendor contracts.
• Identify opportunities for cost savings and efficiency without compromising service quality.
• Partner with Finance to support forecasting, planning, and strategic investment initiatives.

Qualification & Requirements

Education:

• 4 Year / Bachelors Degree, required. Degree in Business Administration with a Healthcare of Finance concentration, or equivalent, Health Care Administration, or a related field
• Graduate Degree, preferred. MS, MBA; a combination of experience and/or education will be taken into consideration.

Experience: Minimum of 10 years of relevant experience in strategic planning, strategy execution, or performance improvement within Revenue Cycle in a healthcare-related setting, required.

Additional Skills (required)

• Strong analytical skills and the ability to derive meaningful insights from complex data.
• Excellent strategic thinking and leadership skills.
• Effective communication skills across multiple streams and organizational levels.
• Demonstrated project management and critical thinking skills.
• Financial acumen and understanding of financial concepts and their impact on strategic decisions
• Knowledge of emerging trends, technology, vendors and best practices in revenue cycle management
• Ability to work collaboratively with other RCM leaders and external vendor partners
• Experience with managing revenue cycle vendors and driving performance

Additional Skills (preferred)

• Knowledge Management: Stay current on emerging best practices and industry trends
• Centralization: Centralize activities such as billing, claim submission, payment processing, and denials management
• Standardization: Implement standardized processes and procedures, leading to greater consistency and accuracy.
• Efficiency and Cost Savings: Combine resources and streamline processes for improved operational efficiency
• Specialization: Specialize in specific areas of Revenue Cycle Management, such as claim submission, patient collections, or denial management for greater efficiency
• Improve Communication and Collaboration: Improve communication and collaboration between different departments, leading to smoother workflows and remarkable patient experiences.

Benefits

• Insurance Benefits
• Retirement Benefits
• Vacation Policy
• Other Perks and Benefits…