Director of Revenue Cycle for a Nonprofit Long-term Healthcare Organization
Requirement: Retained Search
The client is a nonprofit, long-term care health facility near Buffalo, NY that specializes in housing for the aging population. Entities within the organization consist of 715 beds in various nursing homes, 366 independent living homes, and 219 assisted living homes.
The client was having Revenue Cycle issues, including but not limited to, extremely high A/R aging and billing. In addition, the client ran a lean staff and work life balance for other team members was becoming an issue. In order to mitigate these issues and streamline the revenue cycle process, the client decided to create a new Director level position. As a result, the client engaged ProNexus exclusively to perform a Retained Search Project for a Director of Revenue Cycle.
ProNexus was engaged by the client to assess the current finance team, review financial policies, processes, and procedures and to recommend changes as needed. As part of our due diligence review, ProNexus recommended the client needed someone who had a strong background in revenue cycle and billing so they could quickly setup and manage a process to reduce their AR aging, rectify billing issues, and manage the team moving forward.
In order to start the Search Project, ProNexus performed additional due diligence which resulted in the development of the Client, Department, and Position Profiles. With these profiles, we captured the company’s culture, differentiators, organizational structure, management & communication style, challenges, systems, and reporting requirements. In addition, we captured position background, priorities, time allocation, challenges, and compensation & benefits.
As a result of the unique ProNexus process, we were able to provide 3 candidates to the client within 3 weeks of kicking off the Search Project. The candidate that was hired came from a background in skilled nursing facilities and was the Director of Revenue Cycle for a large insurance company. The candidate’s strengths included leading a team of 85 FTEs accountable for billing and collections, underpayment and arbitration recoveries, SOX audits, denial management and revenue cycle system integrity. The candidate’s expertise was instantly impactful and since hired, AR has reduced dramatically, and the client is seeing much better cash flow.