Revenue and Assurance Director at King Faisal Hospital Rwanda (KFHR)

EXTERNAL ADVERTISEMENT

King Faisal Hospital, Rwanda, “A center of excellence in health service provision, clinical education, and research”.

This is an exciting time for King Faisal Hospital, Rwanda as we embrace a new strategic direction.

The hospital has continued to grow due to its positive reputation for authentic compassionate health care and highly skilled medical practitioners, especially in specialized surgical and medical services.

COMPETENCY REQUIREMENT

EDUCATION AND EXPERIENCE

• He/she a Bachelor’s must have Finance, Accounting, Economics or a related Fields.
• A Master’s degree or professional certification (e.g., CPA, ACCA) is added advantage.
• He/she must have Proven experience (5 years) in revenue assurance role, Finance, Accounting, Revenue cycle management, preferably in a managerial or supervisory role.

SKILLS AND ABILITIES

• Financial Acumen: Profound financial expertise with a keen understanding of revenue cycles, accounting principles, and financial analysis to identify revenue optimization opportunities and potential risks.
•  Analytical Skills: Strong analytical capabilities to interpret complex financial data, perform trend analysis, and generate insights for revenue enhancement strategies and risk mitigation.
• Leadership and Management: Exceptional leadership abilities to manage a team, set goals, and guide them in executing revenue assurance initiatives effectively. Capable of fostering a collaborative work environment.
• Regulatory Compliance: In-depth knowledge of healthcare regulations, billing guidelines, and compliance standards (such as HIPAA) to ensure adherence and mitigate regulatory risks related to revenue operations.
• Problem-Solving: Advanced problem-solving skills to identify and address revenue leakage, billing inaccuracies, and process inefficiencies within the revenue cycle, devising effective solutions.
• Communication and Collaboration: Excellent interpersonal and communication skills to collaborate with cross-functional teams, convey complex financial information effectively, and liaise with internal and external stakeholders.
• Attention to Detail: Meticulous attention to detail when reviewing financial records, conducting audits, and implementing controls to ensure accuracy and integrity in revenue-related processes.
• Strategic Thinking: Ability to formulate and execute long-term revenue assurance strategies aligned with the hospitals financial objectives, driving continuous improvement and optimizing revenue streams.
• Technology Proficiency: Familiarity with financial software, data analysis tools, and ERP systems to facilitate financial reporting, analysis, and process optimization within the revenue cycle.

KEY RESPONSIBILITIES

1. Leadership and Team Management

• Lead, mentor, and manage the Patient Business Services unit, Billing and Recovery unit, and Revenue Assurance.
• Develop and maintain a high-performing team by setting clear goals, providing regular feedback, and fostering a culture of collaboration and accountability.
• Conduct performance evaluations, provide feedback, and support staff development and training initiatives.
• Provide ongoing coaching, mentorship, and performance evaluations to ensure staff effectiveness and productivity.
• Foster a collaborative and productive work environment.

2. Strategic Revenue Assurance

• Develop and implement a comprehensive revenue assurance strategy to maximize revenue while ensuring compliance with relevant regulations.
• Analyze revenue trends, identify potential revenue leakage points, and create strategies to address them.
• Collaborate with senior leadership to align revenue assurance efforts with the hospital's strategic goals.

3. Billing and Recovery Oversight

• Oversee the Billing and Recovery unit in managing billing processes, claims submission, and revenue recovery efforts.
• Ensure the timely and accurate submission of claims to insurance companies, government payers, and other third-party payers. Oversee the billing and timely submission of claims to insurance companies, government and private payers.
• Implement strategies to reduce denials and underpayments.
• Ensure all billing and coding practices adhere to relevant laws and regulations.
• Develop and implement strategies to optimize the hospital's revenue cycle, including reducing denials and improving collections.

4. Compliance and Regulatory Adherence

• Stay updated on healthcare regulations and payer requirements to ensure compliance with the hospital's billing practices.
• Collaborate with the Compliance department to develop and implement policies and procedures that adhere to regulatory standards.
• Conduct periodic audits to identify compliance issues and implement corrective actions.

5. Financial Analysis and Reporting

• Monitor and analyze key revenue performance indicators, such as accounts receivable, charge capture, and revenue recovery rates.
• Prepare and present regular reports to senior leadership, including the CFO, on revenue assurance performance and recommendations for improvement.

6. Process Optimization

• Identify opportunities to streamline and optimize revenue assurance processes for greater efficiency and accuracy.
• Collaborate with Information Technology to leverage technology solutions that enhance billing accuracy and reduce revenue leakage.
• Continuously assess and improve revenue cycle processes to enhance efficiency and accuracy, reducing denials and write-offs.
• Identify and implement technology solutions and software tools to streamline revenue cycle operations.
• Lead and develop quality improvement projects, policies, and procedure development and review.
• Identify areas where staff may require additional training or support for enhanced billing processes.

7. Patient Business Services Management

• Lead the Patient business services team to ensure smooth and efficient patient billing processes.
• Address patient inquiries and concerns related to billing and insurance matters.

8. Customers Management

•  Oversee relationships with external customers and third-party partners involved in revenue cycle management.
• Evaluate customer performance and negotiate contracts to ensure cost-effectiveness and service quality.

9. Training and Development

• Develop and deliver training programs for staff in the Revenue Assurance, Billing and Recovery, and Patient Business Services units.
• Keep staff informed of industry trends, best practices, and regulatory changes.

10. Contract management

•  Ensure that all partners have valid contracts.
• Ensure that expired contracts are renewed to the existing policies, laws, and regulations of the hospital.
• Lead the discussion with new partners.

11. Tariff management

• Lead the discussion for establishing and reviewing hospital tariffs for new and existing services.
• Ensure the accuracy and implementation of the hospital tariff.

12. Revenue Optimization and Analysis

• Analyze billing data to predict revenue streams and identify potential areas for revenue growth.
• Monitor and follow up on outstanding payments, devising strategies to minimize overdue accounts.
• Optimize cash flow by ensuring timely invoicing and efficient collection processes.
• Collaborate with finance departments to analyze billing data and contribute to financial planning strategies.

https://docs.google.com/forms/d/e/1FAIpQLScMLyZahcaRQdVljDHo0vi1CAVgqnbvXwrmKyScZrzFjvpruA/viewform?usp=sf_link

How to Apply: Join us and take on the challenge to provide Patient Cantered Care.

Qualified candidates should send their cover letter, curriculum vitae, academic credentials, National ID, Recommendation letter from a previous employer and criminal record to the link mentioned above Deadline for application is this August 22^nd, 2024.

KFH, R is proud to be an Equal Opportunity Employer. We offer a competitive compensation and benefits package.

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Dr. ZERIHUN ABEBE

 Chief Executive Officer