Senior Consultant, Revenue Cycle

About the role

Alvarez & Marsal (A&M) is a global consulting firm with entrepreneurial, action and results-oriented professionals. We take a hands-on approach to solving our clients' problems and assisting them in reaching their potential. Our culture celebrates independent thinkers and doers who positively impact our clients and shape our industry. The collaborative environment and engaging work—guided by A&M's core values of Integrity, Quality, Objectivity, Fun, Personal Reward, and Inclusive Diversity—are why our people love working at A&M.

The Team

The Healthcare Industry Group, a subsidiary of A&M, leads transformational change in healthcare. As established leaders and trusted advisors, we deliver results for healthcare executives, boards, private equity firms, investors, law firms, and government agencies. Our team brings diverse perspectives and experiences to assist clients with enhancing financial and operational performance, accelerating strategic growth, and optimizing value throughout the investment lifecycle. We provide specialized services in interim management, restructuring, revenue cycle management, M&A, compliance, digital technology, and analytics. Our professionals collaborate with a wide range of organizations, including health systems, physician groups, medical schools, behavioral health institutes, managed care organizations, healthcare investors, medical device companies, and suppliers, as well as vision centers, dental practices, and laboratories.

How You Will Contribute

As a Senior Consultant, you will be working closely with healthcare clients on a range of complex assignments. You will work in a team environment while using your independent judgment and critical thinking skills to gather data, frame situations and provide practical solutions to add value based on client needs. Depending on the client project, the responsibilities of a Senior Consultant may typically include:

• Assessing current performance of healthcare client operations by conducting interviews, observations, document review, data-driven insights, and process mapping.
• Led financial and operational analyses for healthcare engagements, including advanced financial modeling (e.g., 13-week cash flow forecasts, pro forma and three-statement models) and performance assessments.
• Performing data collection & analyses to develop KPI metrics and drive narrative development to support project deliverables and presentation content.
• Effectively synthesizing, drawing conclusions, and creating recommendations from both qualitative and quantitative data sets.
• Designing and implementing leading practice workflows, addressing deficits in quality, and driving operational and financial outcomes across different levels of healthcare organizations.
• Helping to build product and service offering tools and templates.
• Leading various work streams within a project, including managing day-to-day engagement priorities and timelines with guidance from senior leaders.
• Clearly articulating and executing next steps and managing day-to-day engagement priorities.
• Working with senior leaders to develop transition and hand-off plans ensuring that improvements are sustainable.
• Independently develop and manage work plans and workstreams within a project, understanding interdependencies, milestones, and deadlines to ensure on-time, zero-defect delivery.
• Helping to build product and service offering tools and templates.
• Building trusted, consultative relationships with clients by developing a deep understanding of their processes, financial position, and operational performance drivers.
• Contributing to business development efforts, including proposal development, pitch materials, and identifying opportunities to expand engagement scope.
• Coaching and mentoring junior staff both formally within a project lifecycle and informally.

Revenue cycle projects

Revenue cycle projects may include, but are not limited to: due diligences, performance assessments, enterprise performance improvement, full-scale implementations, and interim management for a broad range of healthcare providers and supporting services companies. Working as a partner to our clients by building consultative relationships you will develop an in-depth understanding of the client’s processes, financial positions, and key operational performance drivers in order to surface and address key issues, from the big picture to the smallest details.

Qualifications

• A minimum of six (6) 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.
• 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 understanding of RCM KPIs and industry best practices.
• Demonstrates deep expertise in at least one RCM functional area (e.g., Financial Clearance, Payment Integrity, Coding, Billing, Collections, etc.).
• Experience with workflow redesign and system implementation is preferred.
• 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.
• Has had exposure to effective management of client sponsors at VP / SVP level.
• Solid project management and organizational skills with prior experience independently managing multiple RCM functional areas.
• Ability to coach, supervise, and mentor junior staff.
• Ability to independently use sound judgment and escalate project issues to project managers or engagement leaders.
• Willingness and ability to travel as required.

Benefits

Regular employees working 30 or more hours per week are also 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 periodically as well as a 401(k) retirement savings plan. Provided the eligibility requirements are met, employees will also receive an annual discretionary contribution to their 401(k) retirement savings plan 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. The amount of vacation and personal days available varies based on tenure and role type.

Salary Range

The salary range is $140,000 - $160,000 annually, dependent on several variables including but not limited to education, experience, skills, and geography.