Laboratory Corporation of America Director, Revenue Cycle Management in McLeansville, North Carolina
LabCorp Diagnostics' Revenue Cycle Management division is currently seeking a Director of Cash Applications . This position is responsible for the strategic activities and execution of Cash Applications goals along with adherence to daily, weekly and monthly departmental key performance indicators. Core duties include management and leadership of processes for continuous improvement of the cash applications and reconciliation processes. Tactical emphasis is on customer care, quality management, workforce planning, workforce development, coaching, training, and advanced use of technology. Performance metrics include unapplied cash, cash posting turnaround time, resolution of unreconciled records (unidentified), suspense account balancing, resolution of records out of balance, and other cash applications exception inventories. A commitment to excellence is demonstrated through continuous staff development programs, enhancing employee engagement, service, knowledge and skills.
The Director's success is measured by the organization's ability to provide high quality services while meeting Service Level Agreements (SLA), improving quality and productivity, increased use of resources and development of the department leadership team, adoption of proven technologies to increase efficiency, and achievement of metrics. The leader in this role ensures ongoing development of all resources on the team, employees, supervisors and managers. The leader actively contributes to the overall success of the company including financial targets as well as daily business decisions.
The Director of Cash Applications understands, supports and drives the department to achieve the vision for the operation; defines strategies and tactical initiatives to advance the effectiveness of the operation, and ensures Cash Applications meets customer and organizational needs.
The successful Director continually engages in leading and inspiring their team in developing and documenting best practices in the performance of all duties and responsibilities.
The leader understands revenue cycle management in a health care setting and ensures all standard operating procedures, decisions and activity supports the optimal outcomes for financial performance. The leader will understand inputs to and outcomes generated from their department and be responsible for appropriate outcomes.
Creates and continuously evaluates standard operating procedures for the cash applications functions that support company business practices and overall Revenue Cycle Management operating practices, strategies, and goals.
Deliver results against a defined scope of work that includes measurable ROI, strategic innovation, performance reporting, and human capital needs and development.
Provide strong, dynamic leadership that mentors, develops, and guides team members to efficiently reconcile outstanding Account Receivables and increase output of the electronic posting processes.
Maintains effective internal and external Quality Assurance (QA) programs fostering continuous improvement and exceeding Service Level Agreement (SLA) performance.
Partners with department executives, leaders and colleagues, as well as peers across appropriate business units to include Compliance, HR, IT, AR Analysis, Managed Care, Payer Relations, AR Accounting and Treasury to establish procedures and processes, and resolve issues and concerns that impact cash and suspense balancing and reconciliation.
License/Certification/ Education: Bachelor's Degree and 10+ years' experience in an appropriate field required. Master's Degree preferred with preference in Business Administration or Healthcare Administration. Minimum 5-7 years of experience leading large teams.
Demonstrated success in leading a large operation in the healthcare industry; Cash Applications, relevant Banking, HIPAA transactions preferred and AR Reconciliation required
Effective leadership and analytical skills including working knowledge of staffing models and scheduling
Effective, simultaneous management of strategic advancements and day to day operations
Strong mentoring and relationship building skills with ability to effectively manage group and interpersonal conflict situations
Strong negotiation, interpersonal, written and oral communication skills
Computer skills: Must be proficient in Microsoft office suite
M-F 8-5 40 hours
As an EOE/AA employer, the organization will not discriminate in its employment practices due to an applicant's race, color, religion, sex, national origin, sexual orientation, gender identity, disability or veteran status.