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 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.

Responsibilities

• Assess current performance of healthcare client operations by conducting interviews, observations, document review, data-driven insights, and process mapping.
• Lead 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.
• Perform data collection and analyses to develop KPI metrics and drive narrative development to support project deliverables and presentation content.
• Synthesize, draw conclusions, and create recommendations from both qualitative and quantitative data sets.
• Design and implement leading practice workflows, addressing deficits in quality, and driving operational and financial outcomes across different levels of healthcare organizations.
• Help build product and service offering tools and templates.
• Lead various work streams within a project, including managing day-to-day engagement priorities and timelines with guidance from senior leaders.
• Clearly articulate and execute next steps and manage day-to-day engagement priorities.
• Work 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.
• Build trusted, consultative relationships with clients by developing a deep understanding of their processes, financial position, and operational performance drivers.
• Contribute to business development efforts, including proposal development, pitch materials, and identifying opportunities to expand engagement scope.
• Coach and mentor junior staff both formally within a project lifecycle and informally.

Revenue cycle projects may include, but are not limited to: due dilences, performance assessments, enterprise performance improvement, full-scale implementations, and interim management for a broad range of healthcare providers and supporting services companies.

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.
• Ability to conduct operational data analysis and synthesize information to develop reports, KPI metrics, and drive narrative development.
• 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. 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 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 and personal days (amount varies based on tenure and role type).
• Seventy-two (72) hours of sick time (prorated for part-time employees).
• Ten federal holidays and one floating holiday.
• Parental leave.

Pay

The salary range is $140,000 - $160,000 annually, dependent on several variables including but not limited to education, experience, skills, and geography. In addition, A&M offers a discretionary bonus program which is based on a number of factors, including individual and firm performance.