Revenue Optimization Specialist at King Faisal Hospital Rwanda (KFHR): (Deadline 5 November 2024)
EXTERNAL ADVERTISEMENT
King Faisal Hospital, Rwanda, “A center of excellence in health service provision, clinical education, and research”.
This is an exciting time for King Faisal Hospital, Rwanda as we embrace a new strategic direction.
The hospital has continued to grow due to its positive reputation for authentic compassionate health care and highly skilled medical practitioners, especially in specialized surgical and medical services.
King Faisal Hospital Kigali is looking for suitable candidate to fill the following position
POSITION: Revenue Optimization Specialist
No: 1
COMPETENCY REQUIREMENT:
EDUCATION AND EXPERIENCE
- Bachelor’s degree in Marketing or Sales, Business Administration, Commerce, Finance, or a related field. A Master’s degree is preferred
SKILLS AND ABILITIES
- Minimum of 3 years of experience in revenue optimization role in healthcare sector or a similar industry is an advantage.
- They must have experience in financial modeling, including proficiency with data analysis tools like advanced Excel.
Key Competencies:
- Analytical Skills: Ability to perform detailed analysis of revenue data and identify opportunities for growth and improvement. Able to use tools(Advance excel or financial modeling)
- Strategic Thinking: Capable of developing and executing strategies that align with the hospital’s financial goals.
- Problem-Solving: Proactive in identifying and addressing revenue issues that impact the hospital’s bottom line.
- Communication: Strong ability to convey complex financial data and strategies to non-financial stakeholders in a clear and actionable way.
- Collaboration: Ability to work cross-functionally and foster strong relationships with internal teams to achieve revenue objectives.
- Attention to Detail: Ensure all processes, data, and reports are accurate and compliant with regulations.
Key Performance Indicators (KPIs):
- Improvement in hospital revenue streams and achievement of financial targets.
- Reduction in revenue leakage and uncollected payments.
- Successful implementation of revenue optimization strategies and pricing adjustments.
- Timeliness and accuracy in revenue reporting and forecasting.
- Enhanced efficiency in billing and collections processes.
KEY RESPONSIBILITIES
Revenue Strategy and Optimization:
- Develop and implement strategies to optimize hospital revenue streams, including pricing, service offerings, and patient payment plans.
- Conduct detailed financial analysis to assess the hospital’s current revenue cycle and identify areas for improvement.
- Develop and optimize pricing models for hospital services based on market research, patient demographics, and financial objectives.
Revenue Monitoring and Analysis:
- Monitor the performance of revenue streams, including billing, collections, and reimbursements.
- Analyze trends inpatient admissions, service utilization, and billing data to identify revenue improvement opportunities.
- Collaborate with the billing and finance teams to ensure revenue collection processes are efficient and aligned with hospital goals.
Revenue Leakage Prevention:
- Work with the Revenue Assurance Director to identify and eliminate revenue leakage throughout the hospital’s revenue cycle.
- Ensure accurate coding, documentation, and timely billing to avoid revenue losses.
- Collaborate with department heads to address inefficiencies that contribute to lost revenue.
Data Analysis and Reporting:
- Utilize data analytics to forecast revenue trends and provide actionable insights for revenue enhancement.
- Prepare regular reports on revenue performance and optimization initiatives for the Revenue Assurance Director and senior management.
- Track key performance indicators (KPIs) related to revenue targets, efficiency, and financial performance.
Process Improvement and Innovation:
- Propose and implement process improvements in revenue cycle management to enhance efficiency and reduce operational costs.
- Collaborate with IT and finance teams to integrate new technologies that streamline billing and collections processes.
- Stay updated on industry trends and innovations in revenue optimization within the healthcare sector.
Collaboration with Internal Stakeholders:
- Work closely with the clinical, finance, and operations teams to ensure alignment between service delivery and revenue goals.
- Provide insights to senior management on pricing strategies and revenue improvement initiatives based on data-driven analysis.
Compliance and Regulations:
- Ensure all revenue-related processes comply with national healthcare regulations and hospital policies.
- Monitor changes in healthcare legislation that may affect revenue streams and provide recommendations for adjusting revenue strategies accordingly.
How to Apply: Join us and take on the challenge to provide Patient Cantered Care.
Qualified candidates should send their cover letter, curriculum vitae, academic credentials, National ID, Recommendation letter from a previous employer to the link mentioned above Deadline for application is November 5th, 2024.
KFH, R is proud to be an Equal Opportunity Employer. We offer a competitive compensation and benefits package.
Dr. ZERIHUN ABEBE
Chief Executive Officer
CLICK HERE TO READ MORE AND APPLY
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