How To Be a Rockstar: Revenue Cycle Manager17 Dec 2014, Posted by Uncategorized in
in2itive’s “How To Be a Rockstar” series takes a look at the individual roles that make up an amazing business office and revenue cycle management team. Learn from our own rockstar leaders what makes each role essential, how we measure each role’s success and what tasks and obstacles come with the territory.
Meet Virginia “Ginny” Finocchio: Revenue Cycle Manager
As a revenue cycle manager, I think my motto would have to be, “As soon as you think everything is running smoothly, recheck everything you just did.” There are a lot of moving parts to this role, and it’s anything but repetitive.
The thing to remember is that I manage a lot of different angles in revenue cycle management (RCM)—everything from entering charges and working denials to monitoring clearinghouse websites (for claims rejections) and running reports for our accountants. All of these things factor directly into my overarching goals, and those are about limiting the number of days an account spends in A/R, resolving any and all denials and, of course, constantly improving cash flow for my clients.
It’s pretty easy to misconceive the role of revenue cycle manager; plenty of people think accounts go on “auto pilot” after someone has entered charges, filed a claim and posted payments. But it’s important for me to make follow up calls, coordinate with my team, consult with clients and constantly reach out to “touch” my accounts, otherwise we’d never get past the inevitable walls that pop up. Claims wouldn’t reach the right payor. Needed information wouldn’t be provided. The revenue process would be completely held back.
My Territory: The Tasks & Obstacles
You really have to anticipate anything in this business, and every morning you have to put on your multitasking cape to get through the day.
Some of the bigger challenges I face are difficult patient calls and lengthy denials from an insurance company. The latter, especially, is a challenge when one of our payors is transitioning or upgrading their account software—there will be an unnoticed hiccup in their technology and we won’t discover it until claims are suddenly and incorrectly denied. And of course, when you’re interacting directly with patients, there’s always the possibility of misunderstanding, frustration, reluctance and even anger.
Scenarios like that are part of why this role requires a personality that doesn’t give up. Leaders in RCM have to just maintain constant focus and remember the client they’re trying to serve and what they’re trying to accomplish for them.
The Ticket to Success in My Role
Success for me means reaching the end of the month knowing that each of my accounts has been touched in some way, that I’ve resolved all denials and that I’ve exceeded my goal for cash revenue. To do that I have to be a total multitasker with a knack for organization and a keen sense of focus. But beyond that, it’s also important to remember that effective RCM takes teamwork on all parts, from the centers to the billing office, and I work very closely with the employees at my centers. While I have the tools and capabilities to do my respective job well, complete day-to-day success takes dedication from every member of our team.
Contact Jocelyn Gaddie to discover how the rockstars at in2itive Business Solutions can help improve your facility’s monthly financial performance.