Revenue Cycle Consultant at Alvarez & Marsal Healthcare Industry Group, LLC in Chicago, Illinois

Job Description:

Description

Revenue Cycle Consultant

Alvarez & Marsal (A&M) is a premier, independent, global professional services firm specializing in advising organizations on solving complex business problems, including turnaround management, restructuring, operational and financial performance improvement, strategy and value creation.

The Healthcare Industry Group, a subsidiary of A&M, is at the forefront of delivering transformational change to the healthcare industry. Known as an established leader that delivers tangible results for healthcare executives, boards, private equity firms, investors, law firms and government agencies, our professionals advise organizations on financial and operational performance improvement, strategic growth and unlocking value across the investment lifecycle. Our team provides additional expertise in interim management, restructuring, revenue cycle management, mergers and acquisitions, compliance and regulatory, digital technology and analytics.

You will have the opportunity to work with clients in a variety of sectors including health systems and providers, physician groups, ancillary providers, medical schools, vision, laboratory, dental and behavior health; managed care and health plans, government plans and programs, healthcare investors and lenders, medical devices, healthcare suppliers and infrastructure, and life sciences.

What will you be doing?

As an Associate, you will be working closely with healthcare clients on a range of complex assignments. You will work in a team environment while using your independent judgment and critical thinking skills to provide practical solutions and add value for our clients.

Revenue cycle projects may include, but are not limited to: due diligences, performance assessments, enterprise performance improvement, full-scale implementations, and interim management for a broad range of healthcare providers and supporting services companies. Depending on the client project the responsibilities of an Associate may typically include:

• Building and maintaining financial and operational models to assess client performance.


• Benchmarking internal and external data.


• Mapping out processes and managing both client and internal projects.


• Conducting client interviews and observations to define current state and capture actionable items for improvement.


• Creating flowcharts or process maps to visually represent how tasks are currently being performed from patient registration to final payment resolution.


• Analyzing and sampling data for root cause analysis.


• Implementing leading practice workflows across the full scope of revenue cycle operations. Preparing and communicating client-ready deliverables. Assisting with the development of presentations, pitch and proposal content.

Our Associates possess a high aptitude for financial and operational analysis and will leverage their excellent written and verbal communication skills to work with senior leaders and clients. We are seeking someone to join our team with an entrepreneurial and collaborative mindset who works well with ambiguity and thrives in a fast-paced environment. As an Associate you will have the opportunity to demonstrate your leadership, integrity and objectivity when interacting with clients at all corporate levels.

Who will you be working with?

We are not your typical consulting firm. We are entrepreneurial, action oriented and results driven professionals who take a hands-on approach to solving our clients' problems and helping them drive value and growth. We are nimble, resourceful, proactive, can pivot to adapt quickly, when needed, and develop plans that drive real results.

You will be part of a team that is passionate about delivering transformational change and making an impact in the healthcare industry.

How will you grow and be supported?

As an Associate within the Healthcare Industry Group, you will have the opportunity to take your career to the next level by gaining invaluable industry experience while enhancing and expanding your skillset. As part of our team, you will collaborate with many experienced professionals who will provide you with developmental feedback and growth opportunities.

We work with each of our employees to create a customized career development plan to ensure you are matched with professional growth opportunities that meet your unique needs and accelerate your career. We offer a variety of live and virtual training programs, access to best-in-class on-demand training, ongoing on-the-job coaching, a transitional coach to help you acclimate to the practice, and partnership with a mentor who will guide you through your career. We offer a variety of live and virtual training programs, access to best-in-class on-demand training, ongoing on-the-job coaching, a transitional coach to help you acclimate to the practice, and partnership with a mentor who will guide you through your career.

Our Healthcare team prides itself on sustaining a culture that reflects our core values: Integrity, Quality, Objectivity, Fun, and Inclusive Diversity . We value integrity, quality, and objectivity in our work. We like what we do and with whom we do it. We embrace diversity, foster inclusiveness, and reward merit. We encourage and support our employees and communities through ongoing investments from leadership, social and networking events, peer-to-peer networks, Employee Resource Groups, volunteer opportunities and pro-bono work . We are committed to promoting an inclusive environment in which all can develop, grow, and be supported.

Alvarez & Marsal offers competitive benefits and opportunities to support your personal and professional development. Click to learn about our commitment to your well-being . A&M recognizes that our people drive our growth, and you will be provided with the best available training and development resources through formalized training and on the job training. Learn more about why A&M is a great place to work.

What are we looking for?

• High energy individuals with a passion for healthcare and solving complex issues


• A minimum of three (3) 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.


• Advanced Microsoft Excel, PowerPoint, and Word skills a must; experience with Tableau, SQL, SPSS, Power BI, Action O-I benchmarking, MGMA survey data are a plus.


• Knowledge of Revenue Cycle systems, operations, and regulations. Experience with workflow redesign and system implementation is preferred.


• 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.


• Excellent verbal and written skills, with the ability to communicate with and present information to all levels of client personnel.


• Solid project management and organizational skills.


• Ability to conduct operational data analysis and synthesize information to assist in the development of reports, KPI metrics and drive narrative development.


• Willingness and ability to travel as required.

Diversity & Inclusion

A&M's entrepreneurial culture celebrates independent thinkers and doers who can 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 the main reasons our people love working at A&M. Inclusive Diversity means we embrace diversity, and we foster inclusiveness. It guides how we recruit, develop employees, conduct business, support clients, and partner with vendors. It is the A&M way.

Voluntary Inclusion

It is Alvarez & Marsal's policy to provide and promote equal opportunity in employment, compensation, and other terms and conditions of employment without discrimination because of race, color, sex, sexual orientation, gender identity, family medical history or genetic information, political affiliation, military service, pregnancy, marital status, family status, religion, national origin, age or disability or any other non-merit based factor in accordance with all applicable laws and regulations.

Unsolicited Resumes from Third-Party Recruiters

Please note, per A&M policy, we do not accept unsolicited resumes from third-party recruiters unless such recruiters were engaged to provide candidates for a specified opening. Any employment agency, person or entity that submits an unsolicited resume does so with the understanding that A&M will have the right to hire that applicant at its discretion without any fee owed to the submitting employment agency, person or entity.

Compensation Statement

The annual base salary range is $90k - $115k, commensurate with experience. In addition, A&M offers a discretionary bonus program which is based on a number of factors, including individual and firm performance. Please ask your recruiter for details.

Benefit Summary

Regular employees working 30 or more hours per week are also 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 from time to time as well as a 401(k) retirement plan. Provided the eligibility requirements are met, employees will also receive a discretionary contribution to their 401(k) from Alvarez & Marsal. Additionally, employees are eligible for paid time off including vacation, personal days, seventy-two (72) hours of sick time (prorated for part time employees), ten federal holidays, one floating holiday, and parental leave. The amount of vacation and personal days available varies based on tenure and role type. Click here for more information regarding A&M's benefits programs.

Alvarez & Marsal recruits on an ongoing basis. Candidates are considered as they apply, until the opportunity is filled. Candidates are encouraged to apply expeditiously to any role(s) that they are qualified for and that are of interest to them.