Revenue Cycle Services Vendor Manager

📋 Description

• • As a Revenue Cycle Services Vendor Manager at iRhythm Technologies, Inc., you will play a pivotal role in optimizing our outsourced billing and patient hub operations. Reporting to the Senior Manager of RCS Optimization, your primary responsibility will be to serve as the dedicated point of contact and manager for one or more key external vendors critical to our revenue cycle processes. This role is integral to ensuring the seamless and efficient financial operations that support our life-changing cardiac health solutions.
• • You will be instrumental in cultivating and maintaining strong, collaborative relationships with our vendors. This involves acting as the primary liaison between these external partners and various internal iRhythm departments, including Finance, Legal, Payer Relations, and Information Technology. Your ability to foster effective communication and understanding across these diverse teams will be crucial for aligning vendor performance with iRhythm's strategic objectives.
• • A core aspect of your role will be to serve as the ultimate point of accountability for the escalation and arbitration of any vendor-related issues. This requires a proactive approach to identifying potential problems, mediating disputes, and implementing timely resolutions to minimize disruption and ensure continuous service delivery.
• • You will be responsible for developing, defining, and implementing Key Performance Indicators (KPIs) and clear performance targets in close partnership with the Revenue Cycle Management (RCM) staff. This involves understanding the intricacies of the revenue cycle and translating business needs into measurable vendor expectations.
• • A significant part of your day-to-day will involve the rigorous analysis of vendor performance data. You will continuously monitor and evaluate the effectiveness of vendor adherence to established performance targets, identifying trends, areas of concern, and opportunities for improvement.
• • You will lead the onboarding and integration process for new vendors, ensuring they are seamlessly incorporated into existing iRhythm processes, systems, and relationships. This includes establishing clear communication channels, setting initial expectations, and facilitating a smooth transition.
• • Proactively identify areas for enhancement and optimization within current vendor relationships. You will collaborate closely with RCM Management to conceptualize and implement process improvement projects that leverage vendor capabilities to drive greater efficiency and effectiveness.
• • You will be tasked with identifying potential risks associated with critical issues and contractual failures. This involves conducting thorough risk assessments and proposing strategic interventions to mitigate these risks before they impact operations or financial outcomes.
• • Maintain comprehensive records and provide regular reporting on vendor operational metrics. This includes tracking and analyzing delivery timelines, reliability, quality of service, and accuracy of estimates and invoices, ensuring transparency and accountability.
• • Actively participate in the vendor selection process, contributing to the development of key selection criteria and evaluating potential partners based on their ability to meet iRhythm's stringent requirements.
• • Provide critical feedback to the Senior Manager and Legal teams during the contracting process. You will also play a key role in highlighting contract terms and performance during renegotiations to ensure ongoing value and alignment.
• • Diligently monitor Service Level Agreements (SLAs) against contract terms for all assigned vendors, ensuring compliance and addressing any deviations promptly.
• • Maintain an in-depth understanding of specialized and complex product and service offerings, as well as sourcing strategies. This knowledge will be applied to ensure that vendor performance and outcomes consistently align with iRhythm's overarching business strategies.
• • Collaborate with the vendor coordinator to create and maintain accurate invoicing and budgeting records, ensuring financial transparency and control over vendor expenditures.
• • Clearly and effectively communicate iRhythm’s needs, expectations, and performance standards to vendors, fostering a shared understanding of goals and objectives.
• • Keep vendors informed about organizational developments that may impact their systems development, configuration, or operating platforms, ensuring they are prepared for any changes.
• • This role demands a proactive, analytical, and relationship-driven approach to vendor management, contributing directly to the financial health and operational efficiency of a company dedicated to improving cardiac health outcomes worldwide.