1. Carolyn Milburn, President
Prime Your Background for Success
Carolyn Milburn, President

2. Milburn Partners, Inc.
Our firm was founded in 2001 with offices in Dallas and Houston
Clients span from the Mid-Atlantic to California, with a focus on Revenue Cycle, Finance and Accounting, exclusively in healthcare
We feel our Client and Candidate network is both broad and deep
Over half of our current searches require candidates that have experience in Revenue Cycle
In 2013, for example, we successfully completed 5 Vice President of Revenue Cycle searches, in DFW alone, all in a 4 week span

3. Appointment Scheduling Resubmission & Appeals
Patient Registration
Patient Exam
Service Coding
Charge Entry
Claims Submission
Payment Processing
Resubmission & Appeals
2nd Claims/
Patient Billing
A/R Follow-Up
Collection Agency
What is Revenue Cycle?
The Healthcare Financial Management Association (HFMA) defines revenue cycle as "All administrative and clinical functions that contribute to the capture, management, and collection of patient service revenue."

4. Career path in revenue Cycle
Business Degree
HIM Degree/RHIT
RN Degree
Accounting Degree
Bachelor’s of Science
Finance Degree
Clinical Analyst
Financial Analyst
BOD
Mgr. Rev Cycle
Rev Accountant
Access Services
Director
Sr. Director
Vice President
C-Level

5. Revenue Cycle Management
The Key Stakeholders Include:
VP Revenue Cycle
VP Managed Care/Contracting
Director of Patient Access/Registration
Director of Professional Billing
Director of Revenue Cycle
Director of Business Office
Director of Patient Financial Services
Manager of Revenue Cycle
Revenue Cycle Analyst
Practice Administrator/Office Manager
Revenue Cycle Consultants

6. Among the most important financial priorities:
Survey of hospital executives indicates that revenue integrity is the most important component of the financial health of their organizations.
57 hospital executives polled, 34 were C level
1/3 affiliated with large hospitals and healthcare systems, remainder split between critical access, community and medium-sized facilities
Among the most important financial priorities:
Receiving proper reimbursement from private payers
Complexity of reimbursement policies from government payers
Ensuring optimal reimbursements for pharmaceuticals and medical supplies
1/2 of executives added additional staff to address revenue integrity issues
1/4 established separate revenue integrity departments
The report by Atlanta-based revenue cycle software provider Craneware Inc. polled 57 hospital executives, of whom 34 were C-suite level employees. About a third were affiliated with large hospitals and healthcare systems with the remainder split between critical access, community and medium-sized facilities.
Among the most important financial priorities was receiving proper reimbursement from private payers, the complexity of reimbursement policies from government payers and ensuring optimal reimbursements for pharmaceuticals and medical supplies.
In response, more than half of hospitals executives say they have added additional staff to address revenue integrity issues, while one-quarter went so far as to establish separate revenue integrity departments.

7. National Salary Data Education Percentage Compensation
Supervisor/Manager/Director
Patient Financial Services
 Education
Percentage  
Compensation
Associate's degree  
29%
$83,400
Bachelor's degree  
37%
$109,800
Master's degree
28%
$116,100
Title
Percentage   
Compensation
Supervisor  5%
small sample
Manager   
28%
$72,200
Director
67%
$117,300

8. National Salary Data VP Revenue Cycle Education Percentage
Compensation
Bachelor's degree  
32%
$237,700
Master's degree
58%
$247,400
Region
Percentage  
Compensation
Northeast   
17%
$276,300
South
35%
$215,700
Midwest
31%
$229,600
West
16%
small sample
Organization
Percentage  
Compensation
Hospital with 521 beds or less
18%
$196,600
Hospital with 559 beds or greater
$268,100
System level, headquarters or regional  
62%
$253,100

9. Supervisor/Manager/Director
National Salary Data
Supervisor/Manager/Director
Patient Access
 Education
Percentage  
Compensation
Associate's degree  
29%
$76,700
Bachelor's degree  
31%
$100,200
Master's degree
32%
$102,800
 Title
Percentage   
Compensation
Supervisor    6%
small sample
Manager
34%
$73,800
Director
59%
$108,700

10. Typical Salary for Revenue Cycle Leaders
Milburn Partners’ data based on placements from 2012-Present

11. REVENUE CYCLE MANAGEMENT
CODING/BILLING
OPERATIONS/
MEDICAL RECORDS
COMPLIANCE/
RISK MANAGEMENT
INFORMATICS/
DATA ANALYSIS
MASTER
VP Revenue Cycle
VP Coding
Director CBO
Director PFS
Director Managed Care
Director Coding
Chief Learning Officer
Chief Knowledge Officer
Director HIM
Regional Director HIM
Chief Compliance Officer
VP Privacy/Security
Director Risk Management
Chief Clinical Informatics Officer
Director Clinical Informatics
ADVANCED
Rev Cycle Manager
Reimbursement &
Insurance Manager
CBO Manager
Access Manager
Consultant
Coding Trainer
MPI Manager
Meaningful Use Specialist
Compliance Auditor
Business Analyst
Privacy Officer
Compliance Officer
Information Security Officer
Research Development Specialist
Project Manager
Mapping Specialist
Data Integrity Analyst
MID LEVEL
Revenue Cycle Analyst
Documentation & Coding Specialist
HIM Rev Cycle Auditor
Office Administrator
Cancer Registrar
Health Information Tech
Transcriptionist
DRG Validator
Quality Improvement Analyst
Clinical Informatics Coordinator
Content Analyst
Clinical Data Analyst
ENTRY
Coder
Benefits Coordinator
Medical Biller
Insurance Claims Clerk
Billing/Collections Clerk
HIM Clerk
Patient Care Coordinator
Patient Registrar
Customer Service

12. Can you be an effective leader?
Formulate your organization's revenue cycle operations for an uncertain future
Use less resources and continue to advance performance
Connect financial data with clinical data
Improve the overall value delivered to patients and the community 
Think strategically and plan proactively
Being a revenue cycle leader in healthcare is an increasingly multifaceted and challenging job. Leaders must formulate their organization's revenue cycle operations for an uncertain future, while using less resources and continuing to advance performance. 
Revenue cycle leaders play in important role in connecting financial data with clinical data, with the goal of improving the overall value delivered to patients and the community. 
The challenges revenue cycle leaders face are as difficult as they have ever been. Effective leaders will be those who think strategically and plan proactively, while simultaneously inspiring and managing their crews through tough times.

13. Working Towards C Level Status
Major changes in the industry are requiring health systems to rethink and revamp their stratagem. What is required?
Identify and target patient populations
Achieve clinical integration across the network, and leverage data from anywhere and everywhere
Actionable insight into the financial performance of the group and the health of the patient population
Visibility across networks that can be influenced and acted upon at the initial point of contact with patients
Manage the networks/patient populations, no matter what the payment model might be
Harmonize data from multiple systems (EHR, practice management, claims)-turn it into insight which can then become action directly in an organization’s existing workflows
Health organizations are seeing a growing need to develop network strategies that address the entire continuum of care: Identifying and targeting patient populations, achieving clinical integration across their network, and leveraging data from anywhere and everywhere .
For effective revenue cycle management, to achieve both revenue and outcome goals, these organizations need actionable insight into the financial performance of their group and the health of their patient population. With visibility across their network that can be influenced and acted upon at the initial point of contact with patients, the goals of these larger health systems are achievable.
To gain this actionable insight, health systems need people that can deliver it, and help them manage their networks and patient populations, no matter what the payment model might be. What is required? Leaders that can harmonize data from multiple systems (EHR, practice management, claims) and turn it into insight which can then become action directly in an organization’s existing workflows.

14. The Chief Revenue Officer
CROs are accountable for all revenue-related functions - marketing, sales, customer support, pricing and revenue management.
Teams up with Executives to create and convey the company’s ideas and revenue strategies across all relevant functions to ensure the right goals are defined and met
Regularly analyzes productivity and effectiveness to create market positioning and competitive advantages, and determines budget trade- offs to improve and develop sustainable results
Recognizes the differences between marketing and sales, and creates processes to ensure their synchronization across the full revenue cycle get the best results
Has a long-term, integrated perspective while striving to drive quarterly revenue results

15. The Chief Strategy Officer
The best way to describe the role of a CSO? There is no clearly defined role.
Capable of seeing all the pieces on the board and able to see several moves into the future. (to infinity…and beyond!)
Some formulate strategy, others execute strategy, others do both.
Might act as “internal consultants,”  or as experts because they have proficiency in particular areas (revenue cycle management, managed care-contracting, patient financial services, practice operations)
Responsible for understanding how market forces are transforming and how those changes will affect the services patients will need in the future.

16. The Chief Strategy Officer
Revenue Cycle leaders who want to advance to CSOs will need to be able to:
Consolidate network revenue cycle and productivity data
Use analytical tools that display information clearly and accessibly
Have actionable insight into patient financial services, collections, referrals, denials, DAR, etc.
The ability to easily “slice and dice” data and share performance results
Benchmark tracking and performance comparison by practice, specialty, or geography

17. Building Your Executive Profile
Consider how these positions are changing, how else you might be able to align your resume with those changes?
You’ll need years and years worth of learning experiences from various managerial and director positions. (don’t get complacent!)
Experience and demonstrable skills are the most important things that employers look for in C-Level Executives.

18. Market Trends
Demand for ancillary healthcare companies and consultant roles have doubled over the past year
Centralization of processes as consolidations and reimbursements are cut
Hospital systems are developing mini regional offices

19. In Closing…
Demand for health care, and thus the need for more health care workers, is expected to keep growing.
Revenue Cycle roles are the backbone of well run organizations
Develop plans to recruit and retain the talent that will tackle the challenges your organizations are facing
Patiently growing the talent and skills of your team is critical
Industry consolidation will be a great way to upgrade the quality of your workers

20. Salary, Education and Certification
HIM Professionals
Health Information Technology is one of the fastest growing occupations
HIM graduates with an Associate’s earn $35,000 to $45,000 annually
HIM graduates with a Bachelor’s start at $50,000 to $60,000
In 5 years, can potentially earn upwards of $65,000 to $85,000
(RHIAs) often hold managerial positions related to these functions. In a recent survey, AHIMA found more than half of RHIA respondents were directors, managers, or consultants, with almost 31 percent serving as HIM directors.
(RHITs) often specialize in coding diagnoses and procedures in patient records for reimbursement and research. RHITs may serve as cancer registrars or hold a supervisory position.

21. Practice Settings for HIM Professionals
Traditional Settings
Non-Traditional Settings
Consulting firms
Government agencies
Law firms
Insurance companies
Correctional facilities
Extended care facilities
Pharmaceutical Research
Statistician
Clinical Trials Coordinator
Data Manager
Information Technology
System Analyst
Project Manager
Medical Software Companies
Software Designer
Software Tester
Management, HIM (Medical Records)
Tumor registry
Coding
Trauma registry (E.R.)
Transcription
Quality Improvement
Release of Information
Patient Admissions
Compliance Auditor
Physician Accreditation
Utilization Review
Physician offices
Risk Management

22. Typical Salary for HIM Professionals
Milburn Partners’ data based on placements from 2012-Present