Director of Revenue Cycle Management Salary
Job Description for Director of Revenue Cycle Management
Directors of revenue cycle management are responsible for overseeing revenue activities, organizing strategies to increase profitability, and meeting all financial objectives for their company. They are in charge of exploring business opportunities based on careful research, as well as reviewing billing activities and generating ideas for innovative revenue programs. They monitor projections based on past financial results and adjust outlooks for future milestones. They analyze market trends and modify company expectations as needed.Read More...
Directors of revenue cycle management are in charge of collections, as well as monitoring all incoming payments.They oversee the completion of financial reports that explain revenue cycles in a clear, concise way, as well as motivate professionals to reach all company goals in a timely manner. They share their revenue management advice and provide expert feedback in all revenue cycle matters.
A bachelor's degree in finance, economics, or a related field and relevant experience are required for this position.Directors of revenue cycle management must possess strong interpersonal skills to interact with financial experts, share ideas, and change cycle management initiatives when required. They also need to excellent analytical abilities and be able to a personal computer as one of their main tools to process and input revenue cycle information. Additionally, these directors must possess good time-management skills to prioritize projects and resolve conflicts.
Director of Revenue Cycle Management Tasks
- Collaborates with staff to improve information documentation and implement the best practices.
- Leads and provides direction for revenue recycle management and determines goals.
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Pay by Experience Level for Director of Revenue Cycle Management
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Directors of Revenue Cycle Management with a lot of experience do not necessarily enjoy more money. Survey participants with less than five years' experience report a median income of $89K, and earnings aren't much higher for respondents who have five to 10 years under their belts; respondents in the latter group report a median of just $91K. After one to two decades on the job, professionals can reap plentiful salaries that average out to the six-figure sum of $101K. Ultimately, more time spent in the workforce does seem to translate to bigger paychecks; seasoned veterans with more than 20 years of experience report a median income of $113K.