Vice President Revenue Cycle
The Rottman Group has been retained by Platinum Dermatology to find a Corporate Vice President of Revenue Cycle Management. While responsible for the day-to-day operations, this role is more about the overall strategic leadership of the revenue cycle functions. This is a great opportunity to work with a solid organization with a very value-people centric culture.
Corporately based in Dallas, Platinum Dermatology (www.platinumderm.com) was formed in 2016 with the backing of Sterling Partners, a private equity firm with strong healthcare services experience. Since that time, Platinum Dermatology has developed into an amalgamation of 14 practices with a total of 90 providers and 500+ employees, generating $100M net revenue. They have had a both strategic and disciplined approach in their development, being very strong in two markets: Dallas/Fort Worth, and Phoenix, AZ. (They have one additional practice in Houston).
Everyone wants to be part of a high energy, value-people, supportive culture organization. You’ll find a refreshing consistency of this with the whole leadership team.
This was a newly created position just over a year ago. They had a Director of Revenue Cycle (who is still here) that has been very effective at leading the day-to-day operations and people of the revenue cycle department. She does a great job of leading an efficient and cohesive team. This role was created to add a more strategic and analytical level to the revenue cycle function. They promoted someone internally at the time that has done a great job at laying that foundation. He was recently recruited to work back in a client services organization, similar to something he’d done in the past and is a good opportunity for him. He’s leaving on very good terms and has done a great deal to advance the revenue cycle function. This person will pick that up and continue to grow/develop the revenue cycle.
As Vice President of Revenue Cycle Management, this person will lead the strategy, integration, and overall leadership of the revenue cycle function with approximately 36 FTEs. There is a Director of Revenue Cycle that manages the day-to-day operations and had done a great job of leading this cohesive team. Post-covid, they found that some people were happier and more productive working remotely. Others prefer the in-office environment. They are currently doing both and will continue to evaluate what is the most effective way to balance this.
After starting with 12 different billing systems, they have almost completely (70%) migrated to NextGen. While no system is going to do everything, they are evaluating whether to augment this with some additional tools or consider moving to another platform. This person will be instrumental in leading that decision-making process. They have also consolidated to a single CBO in Dallas.
Platinum Dermatology is currently realizing approximately $100M in net revenue. 25% of this is cosmetic services. Currently they are at 25 DSO and ahead of their cash goals. They have done some new things recently and are seeing positive results. Two of these things; working with Legacy Health for their credit balances and working with Mellennia for patient self-pay. This person will continue to evaluate the use of both internal and external resources for the best optimizing of the revenue cycle process/results.
Strategic analysis/decision on either a new billing system or augmenting NextGen
Continue with implementation of credit balance project Legacy Health
Continue working with Mellennia for patient self-pay
Be the support and leader for the Director of Revenue Cycle and that team
Be the interface and interaction with physicians
Be the analytical and strategic resource for the C-suite
This will be someone who is able to assess the current structure and dynamics of the revenue cycle department. They will be able to access and use data and analytics effectively to generate meaningful reports along with metrics and KPIs.
This person needs to have effectively and strategically led the revenue cycle function for a multi-site physician centric environment. This person must be a highly emotionally intelligent leader; someone who is able to work with diverse personalities, operations, and able to bring congruency of practice from a diverse background of organizations.
This needs to be someone who naturally brings energy and a value-people mindset/practice with them.
This person will have a competitive base salary, 30% bonus opportunity, and possible equity opportunity for the right person.
If this is something you are open to exploring, contact:
The Rottman Group, Inc.