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220 Halleck Street,
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Director, Revenue Cycle Management

Octave

Octave

Remote
Posted on Wednesday, January 17, 2024

About the Company:

Octave is a modern behavioral health practice creating a new standard for care delivery that’s both high-quality and accessible to more people. With in-person and virtual clinics in California, Connecticut, Florida, New Jersey, New York, Texas, and Washington D.C., the company offers personalized care plans that can include individual, couples, and family therapy, while pioneering relationships with payers to make care more affordable through insurance. By raising the bar on how care is delivered and how providers are supported, we are building a sustainable system that values equity, affordability, and effectiveness.

About the Role:

The Director, Revenue Cycle Management (RCM) provides strategic planning, leadership, and ongoing continuous quality and process improvement for revenue associated with the operating activities of Octave. This role drives strategy for revenue opportunities and evaluations across the health system implementing efficiencies through innovative partnerships, process improvements and redesign, deployment of new technology, and automation. This role will oversee the financial processes associated with patient care services as well as a team of RCM Managers and Billing Specialists. This leadership position requires a thorough understanding of revenue cycle operations, billing procedures, compliance regulations, and financial analysis in the context of behavioral health services. The Director, RCM collaborates with various teams to ensure accurate and timely revenue collection while maintaining a strong focus on customer service while enhancing overall financial performance. Provides regular reports and analysis to executive leadership to drive business strategies and objectives.

Management Responsibilities:

  • Develops, coordinates, and implements systems, policies, procedures, and productivity standards.
  • Provide leadership and guidance to the team, ensuring the achievement of goals and objectives.
  • Foster a positive and collaborative work environment.
  • Oversee the planning, execution, and completion of projects and initiatives within the team.
  • Establish and monitor operational processes and workflows to streamline to enhance efficiency and productivity.
  • Implement best practices, monitor key performance indicators (KPIs), and develop strategies to achieve operational excellence.
  • Ensures a safe, secure, and compliant work environment.
  • Accomplishes staff results by communicating job expectations; planning, monitoring, and appraising job results.
  • Build and manage a high-performing team, including hiring, training, and development.
  • Set performance expectations and goals for team members. Conduct regular performance evaluations, provide feedback, and address performance issues.
  • Identify skill gaps within the team and develop strategies for filling those gaps. Support employee development through training, mentoring, and coaching. Identify high-potential employees and create succession plans.

Responsibilities Include:

  • Manage Octave’s Revenue Cycle team and oversee all front-end and back-end revenue cycle operations through multiple platforms.
  • Ensure an exceptional client experience through strong customer service.
  • Maintain and improve revenue cycle processes in a manner consistent with industry best practices and in support of Octave’s projected growth.
  • Oversee billing processes, ensuring accurate coding, submission, and follow-up on claims to maximize reimbursement.
  • Manage the collections process, working to minimize accounts receivable and resolve billing discrepancies.
  • Partner with other internal teams including but not limited to working with the product development team to define and update workflows and tools, working with the clinical team to ensure communication to providers and clients is clear and timely and working with the business development team to manage onboarding new payers.
  • Monitor and analyze KPIs related to revenue cycle performance such as days in AR, denial rates and cash collections.
  • Oversee insurance billing and patient billing, ensuring that all clients are billed accurately and in a timely manner following their sessions.
  • Support external vendor relationships to achieve Octave’s goals and objectives.
  • Evaluate and make recommendations for third party tools to enhance revenue cycle operations.

Preferred Qualifications:

  • Strong analytical skills, can translate complex data into clear action and can communicate it to junior and senior levels of the organization.
  • Strong written and oral communication skills.
  • Team player, who enjoys collaborating to develop solutions.
  • Detailed-oriented, organized, and takes pride in the quality of their work.
  • Strong problem-solving skills and ability to make timely decisions.
  • Desire to work in a dynamic start-up environment.
  • Proficiency in Google Suite of Applications.
  • Preferred 7+ years experience in healthcare provider revenue cycle management; behavioral health and/or telemedicine billing and coding experience and or certifications are a plus.
  • Knowledge of professional fee billing, reimbursement, third-party payer regulation, and medical terminology is required.
  • Working knowledge of regulatory requirements pertaining to health care operations and their impact on operations.
  • Experience with Multiple Practice Systems, such as Open PM, Theranest, Athena, Centricity, etc.
  • Experience with and strong knowledge of insurance landscape (experience with mental health billing is a plus).
  • Advanced Excel/Google Sheets skills.
  • Strong presentation skills, including extensive experience presenting and communicating with executives.
  • Experience defining product strategy or product features related to Revenue Cycle.
  • Experience working in a high growth environment.
  • Experience and comfort with working with ambiguity.
  • Experience building a team, including recruiting and hiring new team members, defining new roles and responsibilities and setting performance standards.

Octave's Company Values:

The below values drive our day-to-day operations.

  • We’re human beings first. We operate with empathy and kindness – with our clients, with our collaborators, and with ourselves.
  • People deserve better than status quo. We’re willing to tackle the intractable problems, no matter how big, because someone should. We ask big questions, we craft big solutions, and we challenge ourselves and others to make it happen.
  • No bystanders. No stars. No tourists. Each person has been selected to be here, and with that comes a responsibility to bring your expertise, share your ideas, and help make this company better.
  • Partnership paves the path ahead. We don’t operate in a silo, internally or externally. To transform the system, we believe in working with others to create something bigger, better, and stronger.
  • Quality is crucial at scale. Quality is core to our business, and we refuse to sacrifice it as we grow.
  • Progress is a process. In the pursuit of progress, we iterate, reflect, learn, adjust – and always leave things better than we found them.
  • There are people behind every data point. We recognize that numbers tell only one part of the story, and we also do the work to understand impacts at the individual level.

Physical Requirements:

  • Prolonged periods sitting at a desk and working on a computer.
  • Must be able to frequently communicate with others through virtual meeting applications such as Zoom and Google Meet.
  • Must be able to observe and communicate information on company provided laptop.
  • Move up to 10 pounds on occasion.
  • Must be eligible to work in the United States without sponsorship now or in the future.

Compensation:

Octave is committed to pay equity. To maintain our commitment to pay equity, Octave will follow Pay Transparency regulations on all open job postings. Current Pay Transparency laws require companies to include a position's salary or hourly wage range (not including bonuses or equity-based compensation) in any internal or external job posting. This requirement extends to job postings published by a third party at an employer's request.

Octave will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with Octave’s legal duty to furnish information.

Starting pay for qualified applicants will depend on a combination of job-related factors, which may include education, training, experience, location, business needs, or market demands. The expected salary range for this role is set forth below and this range may be modified in the future.

The salary range for this role is $125,800 - $150,000.

Additionally, this position is eligible for the following benefits: company sponsored life insurance, disability and AD&D plans. Voluntary benefits such as 401k retirement, medical, dental, vision, FSA, HSA, dependent care and commuter/parking options are also available. Octave offers generous Paid Time Off as well as paid parental leave benefits.

This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Application Instructions:

Please complete the following application. Please note that the U.S. Equal Opportunity Employment Information questions below are used for the purposes of EEOC reporting and are optional to complete. Octave is unable to change these questions and we acknowledge that many of the U.S. Equal Opportunity Employment Information questions are not inclusive or affirming of all aspects of cultural identity. Octave is committed to an inclusive workplace environment, and this information will not inform how we approach hiring or employment.