In February of 2023, our journey in Revenue Cycle Management (RCM) reached a significant milestone as the JER Marketing team unveiled a new website:  RCRHUB.COM. As we embarked on its development, we meticulously outlined various objectives and deliverables. A top priority on our list was the creation of a platform where we could celebrate the trailblazers within our Revenue Cycle CommUnity. After months of dedicated brainstorming, we circled back to the essence of what truly sets our CommUnity apart – our people.

So, what exactly is healthcare Revenue Cycle and what makes our healthcare Revenue Cycle CommUnity special?  Revenue Cycle Management (RCM) encompasses all administrative and clinical processes involved in the acquisition, organization, and retrieval of patient service revenue." In simpler terms, the Revenue Cycle encompasses every step from the initial creation of a patient account (at intake, which could be at a doctor's office, outpatient clinic, tertiary care center, healthcare facility, system, or organization) to the eventual payment for the specific treatment, surgery, or care provided.  What makes our CommUnity special?

The Dedication to Excellence:  Members of our CommUnity are deeply committed to excellence in Revenue Cycle Management (RCM). They share a passion for ensuring that patient care services are financially supported and delivered efficiently.

Innovation: Our CommUnity thrives on innovation. Our members do their best to find new technologies, strategies, and best practices to stay ahead in the industry.

Collaboration:  Collaboration is a cornerstone of our CommUnity. Members regularly come together to share insights, best practices, and challenges, fostering a spirit of cooperation that benefits everyone involved. 

Trailblazing Leaders:  Our CommUnity is home to trailblazing leaders who continuously push the boundaries of what's possible in RCM. These individuals are not content with the status quo; they seek out new challenges and opportunities to drive progress.

Unique Expertise:  Members of our CommUnity bring unique expertise to the table. Whether it's in payer rules and regulations, accounting, billing, coding, collections, or revenue cycle analytics, our CommUnity members are experts in their respective areas.

Adaptability:  Healthcare RCM demands adaptability. Our CommUnity excels in adapting to new regulations, industry trends, and evolving patient care models.

Individual Contributions:  Ultimately, what makes our Revenue Cycle CommUnity truly special is the collective impact of its individual members. Each person brings their skills, insights, and dedication to the table, contributing to the success and growth of the entire CommUnity.

The combination of dedication, innovation, collaboration, trailblazing leaders, unique expertise, adaptability, and individual contributions that makes our Revenue Cycle CommUnity special and a driving force in RCM.

Our innovative leaders in RCM are always seeking new challenges. In April 2023, we decided it was time to start documenting executive job changes, and what better title to capture their essence than "Shakers and Movers"? This term, a variation of the more commonly used "movers and shakers," refers to influential and dynamic individuals capable of effecting change, driving progress, and making things happen within healthcare RCM. These are the visionaries who take initiative, create opportunities, and lead with unwavering innovation and energy. They stand at the forefront of industry developments and serve as catalysts for positive change.

As organizations invest more in enhancing their RCM capabilities, leadership roles within the industry continue to evolve. Below, we delve into the top five job titles in the RCM industry, based on our 'Shakers and Movers' reports.  Our findings revealed a staggering 659 different job titles used by organizations to recruit healthcare Revenue Cycle talent.

According to our data, the most frequently filled job title was "Director of Revenue Cycle," occupying 124 positions in the last nine months. The Director of Revenue Cycle bears the responsibility of overseeing all aspects of an organization's revenue cycle operations. This role demands extensive knowledge of payer rules and regulations, billing, coding, collections, and revenue cycle analytics. Additionally, the Director of Revenue Cycle provides guidance and support to staff on all revenue cycle matters.

In second place, with 83 positions filled, is the "Manager Revenue Cycle." This role involves supervising the coordination and management of revenue cycle operations for a specific department. Responsibilities include managing staff, ensuring compliance with regulations, and maximizing revenue through effective billing, collections, and analytics.

In the third position, "Vice President - Revenue Cycle Management" filled 47 roles. The Vice President in this role oversees the strategic direction and implementation of an organization's revenue cycle operations. This includes supervising managers, spearheading the development of financial goals, and collaborating with various departments to ensure financial and operational efficiency.

Fourth place goes to "Sr. Manager Revenue Cycle Manager," which has been filled 18 times since April. And last but certainly not least, the "Senior Director of RCM" role, tied with titles such as "Revenue Cycle Analytics," was filled 14 times.

In concluding our top-five ranking, we have a tie for the fifth position. The contenders are "Revenue Cycle Analytics" and "Senior Director, RCM."  Revenue Cycle Analyst, are responsible for collecting, analyzing, and interpreting financial data related to the entire revenue cycle process. This includes evaluating the efficiency and effectiveness of billing and reimbursement procedures, identifying areas for cost optimization, and monitoring revenue trends. By leveraging data analytics tools and techniques, these professionals help healthcare organizations make informed decisions to improve revenue generation, reduce billing errors, and enhance overall financial performance, ultimately ensuring the financial health of the institution.  A Senior Director RCM is a high-level leader in a healthcare organization responsible for strategically managing and optimizing the financial aspects of Revenue Cycle. This role involves overseeing teams, analyzing financial data, ensuring compliance with healthcare regulations, improving processes, and maximizing revenue generation while minimizing financial risks. Senior Directors of RCM also play a crucial role in budgeting, relationship management with external stakeholders, and leveraging data analytics to drive informed decision-making, ultimately contributing to the organization's financial health and efficiency in healthcare revenue management.

A key observation from our data analysis highlights the increasing complexity and specialization of leadership roles in the industry, supported by the existence of 659 unique job titles. While the title "Director of Revenue Cycle" was prevalent at 124 occurrences, many were highly specific, such as "Director of RCM & Billing" or "Director of RCM & Clinical Integration." This diversity underscores the unique needs of each organization within Revenue Cycle Management. You can explore the complete list below.

As we look ahead to 2024, we eagerly anticipate tracking the journeys of our "shakers and movers!”  Just as RCM continues to evolve, we remain committed to monitoring the increasing complexity and specialization of leadership roles, as reflected in the diverse array of job titles. 

Lastly, a heartfelt congratulations to all our remarkable "shakers and movers!"