Chair – Revenue Strategy & Innovation

The Revenue Strategy and Innovation (RSI) Chair reports to the Mayo Clinic Chief Financial Officer and is a member of the Finance Leadership Team.  The role requires partnership with all levels of Practice leadership and Mayo Clinic’s Clinical Practice Committees to ensure current and future payment models are aligned with Mayo Clinic’s current and future clinical care models.  Site and shield CFO’s, the Chair of Revenue Cycle, Strategy, other finance leaders, the Kern Center for the Science of Health Care Delivery, Government Relations, and Information Technology will also be key partners for this position.  

The Revenue Strategy and Innovation Chair oversees a team responsible for a portfolio of commercial and government payment revenue exceeding $20 billion on an annual basis, including: actuarial services, performance and analytics, commercial contracting, government and pricing strategy, strategic pricing, payment model innovation, and the chargemaster.

Position Responsibilities:

• The Revenue Strategy and Innovation Chair supports the Chief Financial Officer and other executives in strategy development on core payment and reimbursement models, including the ideation and business planning on innovative payment and delivery models that support Mayo Clinic’s Strategic Operating Plan.

• The Chair will have primary responsibility for ideation and model development, the financial design, performance and analytics, for negotiating strategies and tactics, and for the day-to-day operations that support new care models.

• Using data and analytics to monitor and identify opportunities and exposures in both government and commercial segments to advance Mayo Clinic’s strategic operating plan and to the extent possible, merging efforts and approaches so that all parties – transactional revenue cycle as well as operating leadership – have access to accurate and real time information.

• Leveraging the growing set(s) of pricing information available for healthcare providers to best effect for Mayo Clinic in terms of market intelligence and positioning.

• Designing and implementing, in concert with practice leadership and supported by data and analytics, reimbursement and contract approaches that take advantage of opportunities and mitigate exposures.

• Ensuring the necessary teams and individuals are engaged in the ideation and development of solutions so any corresponding at processes, workflows, training and change management are communicated.

• Ensuring the data, analytic and operational capabilities, and skills for the future all exist.

• Establishing and achieving performance metric targets and monitoring them for on-going enhancement.

• Commercial contracting in domestic and international markets, direct-to-employer contracting, risk-based program design and analytics, strategic market pricing, and Medicare strategy.

• The Chair will represent the department and participate in institutional committees and taskforces and be actively engaged with external groups to ensure Mayo is apprised and aware of market disruptors and innovations in payment and delivery models.

• The Chair will coordinate Mayo resources (projects, people, facilities, money and equipment) in an effective and efficient manner and will lead, coach and mentor a staff of leaders.
   

This is a hybrid position and must be located within 100 miles of one of the following Mayo Clinic campuses: Jacksonville, FL; Phoenix, AZ; or Rochester, MN, with an expectation to work on-site based on business needs.

Minimum Education and/or Experience Required:

Requires an MBA, MHA, or similar degree and 10+ years of management experience in the healthcare field.  Key skills and experience include a track record of success in negotiating provider-payer contracts, expertise in crafting successful risk-based contracts and payment models, and specific experience with CMS value-based models (ACO’s, BPCI, etc).  Expertise and direct experience managing operations, including specific skills in budgeting and forecasting, process improvement, and planning and project management.  Unique combinations of education and experience which provide an equivalent background may also meet the requirements of the position.  

Additional Experience and/or Qualifications:

Broad experience at a payer, Academic Medical Center, or other provider-based organization is preferred.  Experience in Commercial and Government risk-based contracting and payment models and a track record of results in Fee-for-Service contracting.  Demonstrated success in both personnel and budgetary management.   Ability to effectively build, lead and motivate teams of individuals with diverse skills and abilities. Proven ability to build successful, collaborative relationships with highest levels of physician and administrative leadership in a heavily matrixed structure.  Able to understand and strategically apply financial analyses to the complex needs of Mayo practice and evolving business needs. A strong leader with excellent analytical abilities (ability to understand claims, quality and other quantitative metrics from an actuarial, data science, payer contracting, Medicare strategy, and market pricing team and use as inputs to design and execute risk-based programs), oral and written communication skills, presentation skills, and superior interpersonal skills that facilitate effective relationships both within and outside of Mayo Clinic. Politically savvy and able to function effectively in the face of ambiguity. Must demonstrate ability to work effectively in consensus-style operation that expects and promotes teamwork. Demonstrated ability to appropriately handle sensitive/proprietary information.   

Compensation Detail: The minimum starting salary for the position may range from $498,000 to $746,000. This range reflects full-time total base compensation prior to consideration of additional experience or duties. Pay for the selected candidate will vary based on experience, FTE, internal equity, or external market data.