Consultant, Revenue Cycle

About the role

The Healthcare Industry Group, a subsidiary of Alvarez & Marsal, seeks a Consultant to work on a range of complex assignments with healthcare clients. This role involves building and maintaining financial and operational models, conducting root cause analyses, and assisting with the development of presentations and proposals.

Responsibilities

• Build and maintain financial and operational models to assess client performance and inform recommendations
• Conduct benchmarking and root cause analyses, including data sampling to identify performance gaps and improvement opportunities
• Map out processes and perform gap analyses while managing both client and internal projects
• Conduct client interviews and observations to define current state and identify actionable items for improvement
• Analyze and sample data for root cause analysis
• Create flowcharts or process maps to visually represent how tasks are currently being performed from patient registration to final payment resolution
• Assist with the development of presentations, pitch and proposal content
• Manage assigned workstreams or projects, coordinating inputs and driving work to completion
• Prepare and communicate client-ready deliverables

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
• Prior experience with revenue cycle in a hospital or larger health system a plus
• 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
• Experience working with Revenue Cycle systems, operations, regulations, and an understanding of RCM KPIs and industry best practices
• Demonstrates knowledge in at least one RCM functional area (e.g., Financial Clearance, Payment Integrity, Coding, Billing, Collections, etc.)
• Ability to conduct operational data analysis and synthesize information to assist in the development of reports, KPI metrics and capturing actionable insights
• Advanced Microsoft Excel, PowerPoint, and Word skills are required; experience with Tableau, SQL, SPSS, Power BI, Action O-I benchmarking, MGMA survey data are preferred
• 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 with prior experience independently managing at least one RCM functional workstream, a plus
• Ability to coach and mentor junior staff
• Ability to use sound judgement and escalate project issues to project managers or engagement leaders
• Willingness and ability to travel as required

Qualifications

• BA/BS degree and/or MBA/MS in Accounting, Finance, or other related healthcare fields such as MHA or MPH
• Prior experience with revenue cycle in a hospital or larger health system a plus
• 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
• Experience working with Revenue Cycle systems, operations, regulations, and an understanding of RCM KPIs and industry best practices
• Demonstrates knowledge in at least one RCM functional area (e.g., Financial Clearance, Payment Integrity, Coding, Billing, Collections, etc.)
• Ability to conduct operational data analysis and synthesize information to assist in the development of reports, KPI metrics and capturing actionable insights
• Advanced Microsoft Excel, PowerPoint, and Word skills are required; experience with Tableau, SQL, SPSS, Power BI, Action O-I benchmarking, MGMA survey data are preferred
• 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 with prior experience independently managing at least one RCM functional workstream, a plus
• Ability to coach and mentor junior staff
• Ability to use sound judgement and escalate project issues to project managers or engagement leaders
• Willingness and ability to travel as required

Skills

• Financial and operational analysis
• Excellent written and verbal communication skills
• Data analysis and synthesis
• Project management and organizational skills
• Ability to manage multiple workstreams
• Ability to coach and mentor junior staff
• Ability to use sound judgement and escalate project issues

Benefits

Regular employees working 30 or more hours per week are entitled to participate in Alvarez & Marsal Holdings’ fringe benefits consisting of healthcare plans, flexible spending and savings accounts, life, AD&D, and disability coverages at rates determined from time to time as well as a 401(k)-retirement plan. Provided the eligibility requirements are met, employees will also receive a discretionary contribution to their 401(k) from Alvarez & Marsal. Additionally, employees are eligible for paid time off including vacation, personal days, seventy-two (72) hours of sick time (prorated for part time employees), ten federal holidays, one floating holiday, and parental leave.

Pay

$100,000 - $120,000 annually, dependent on several variables including but not limited to education, experience, skills, and geography.

Schedule

Regular employees working 30 or more hours per week are entitled to participate in Alvarez & Marsal Holdings’ fringe benefits consisting of healthcare plans, flexible spending and savings accounts, life, AD&D, and disability coverages at rates determined from time to time as well as a 401(k)-retirement plan. Provided the eligibility requirements are met, employees will also receive a discretionary contribution to their 401(k) from Alvarez & Marsal. Additionally, employees are eligible for paid time off including vacation, personal days, seventy-two (72) hours of sick time (prorated for part time employees), ten federal holidays, one floating holiday, and parental leave.

Qualifications

• BA/BS degree and/or MBA/MS in Accounting, Finance, or other related healthcare fields such as MHA or MPH
• Prior experience with revenue cycle in a hospital or larger health system a plus
• 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
• Experience working with Revenue Cycle systems, operations, regulations, and an understanding of RCM KPIs and industry best practices
• Demonstrates knowledge in at least one RCM functional area (e.g., Financial Clearance, Payment Integrity, Coding, Billing, Collections, etc.)
• Ability to conduct operational data analysis and synthesize information to assist in the development of reports, KPI metrics and capturing actionable insights
• Advanced Microsoft Excel, PowerPoint, and Word skills are required; experience with Tableau, SQL, SPSS, Power BI, Action O-I benchmarking, MGMA survey data are preferred
• 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 with prior experience independently managing at least one RCM functional workstream, a plus
• Ability to coach and mentor junior staff
• Ability to use sound judgement and escalate project issues to project managers or engagement leaders
• Willingness and ability to travel as required