Company Overview:
Alpha Aesthetics Partners is partnering with the top med spas and aesthetics practices in the country. Alpha is advancing medical aesthetics through best-in-class training and support, driving expert knowledge sharing and commensurate growth through all of our partner practices. Alpha also provides top-notch support for administrative functions such as marketing, finance, and procurement, which allows providers to focus their time on more impactful patient care and growth strategies and reduces demands on office staff. Alpha is backed by Thurston Group, a private equity firm focused on investments in healthcare and business services companies with unparalleled success and numerous industry-leading exits. They are noted for their investment approach focused on growth and quality, underscored by the philosophy of partnering with the right people and advancing businesses the right way. The firm invests in a broad range of middle-market healthcare platforms. For more information, please visit www.thurstongroup.com.
Position Summary:
The Revenue Cycle Management (RCM) Director will oversee all aspects of the revenue cycle process for our multi-location (enter specialty) practice. This role is responsible for optimizing revenue flow, ensuring accurate billing, coding, collections, and implementing strategies to improve overall financial performance. The ideal candidate will have a deep understanding of specialty-specific billing processes, payer policies, and regulatory compliance, and will lead a team to ensure efficiency across all practice locations.
Job Responsibilities:
Strategic Leadership:
- Develop and execute revenue cycle strategies to maximize reimbursement.
- Collaborate with executive leadership and clinical teams to identify revenue enhancement opportunities.
- Monitor payer contracts and reimbursement policies specific to aesthetics.
Billing and Collections Oversight:
- Ensure timely and accurate submission of claims, including handling of denied claims.
- Oversee collections processes, including patient billing, insurance follow-ups, and resolving outstanding balances.
- Maintains and manages third party payer contract negotiations
- Complement best practices for reducing denials and improving claim acceptance rates.
Compliance and Regulatory Management:
- Stay updated on federal, state, and payer-specific regulations related to aesthetic billing and coding (e.g., Medicare, Medicaid).
- Ensure all revenue cycle operations comply with HIPAA, CMS guidelines, and other regulatory standards.
- Regularly review and audit billing practices for compliance and accuracy.
- Oversees physician and payer credentialing process and file maintenance.
- Maintains insurance matrix.
Coding and Documentation:
- Ensure proper coding of aesthetic services, surgeries, and procedures (CPT, ICD-10, and HCPCS codes).
- Provide training and support to clinical staff on proper documentation to support coding accuracy.
- Oversees and assists with the transcription, coding and billing.
- Work with coding specialists to ensure all services are properly documented and billed.
Financial Reporting and Analysis:
- Prepare and present regular financial reports and AR KPI dashboard to senior leadership, highlighting key performance indicators, trends, and recommendations for improvement.
- Monitors and tracks the collection of premium services, packages, and all physician direct pay items.
- Conduct monthly and quarterly reviews of revenue cycle metrics, identifying opportunities for increased efficiency.
- Assists in preparation of annual budget for approval. Participates in budget/financial problem solving to promote fiscal responsibility.
- Work closely with the finance team to forecast revenue, manage budgets, and address variances.
Skills and Qualifications:
Experience:
- Minimum of 5-7 years of revenue cycle management experience, preferably in a multi-location medical or ophthalmology setting.
- Proven experience in overseeing billing, collections, and compliance processes in a healthcare environment.
Education: Bachelor’s degree in healthcare administration, Business, Finance, or related field.
Skills
- Strong knowledge of aesthetic-specific billing, coding, and reimbursement policies.
- Excellent leadership and team management abilities.
- Proficiency in healthcare billing systems and practice management software (NextTech preferred)
- Exceptional analytical, problem-solving, and communication skills.
