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Business Head
ConfidentialChennai30+ days ago
Job descriptionOptimize Existing Revenue Streams : Analyze current revenue streams such as patient payments, insurance reimbursements, and service contracts, and implement strategies to maximize their potential. New Business Opportunities : Explore and develop new revenue channels, including partnerships with optometrists, corporate health programs, and third-party organizations. Build referral networks to increase the number of patients referred for cataract surgery. Pricing Strategy : Develop and implement competitive pricing strategies that reflect the value of services provided while maximizing profitability. Service Expansion : Introduce value-added services or premium cataract treatment packages (e.g., advanced intraocular lenses, laser-assisted cataract surgery) to drive additional revenue. Revenue Cycle Management : Oversee efficient billing processes to reduce billing errors, accelerate reimbursement cycles, and ensure accurate and timely collection of payments. Prepare, monitor, and manage the departments budget with a clear focus on revenue targets, cost management, and profitability. Conduct financial analysis, identifying areas for revenue improvement and cost reduction, and implement strategies to optimize operational efficiency. Monitor revenue trends, identifying potential risks and proactively taking steps to mitigate financial challenges. Ensure efficient operations within the cataract department to drive higher patient throughput and optimize utilization of resources. Implement systems for reducing operational costs while improving service quality, which directly contributes to higher revenue generation. Oversee procurement and inventory management, optimizing supply chain efficiency to minimize waste and control costs, which positively impacts margins. Develop and execute marketing strategies that enhance the department's visibility, attract new patients, and ultimately generate more revenue. Create and manage targeted marketing campaigns (digital marketing, social media, community outreach) to increase awareness and drive patient appointments. Build relationships with referral sources, including local optometrists, general practitioners, and other specialists, to ensure a steady flow of cataract surgery patients. Monitor the effectiveness of marketing efforts and adjust strategies to maximize patient acquisition and retention. Lead the business side of the cataract department, managing non-clinical staff, administrative personnel, and business development teams. Train and motivate staff to work efficiently, delivering excellent customer service and improving patient conversion rates. Foster a results-driven environment focused on increasing department performance and contributing to the facilitys overall growth. Ensure adherence to all regulatory requirements and industry standards, while maintaining profitability and efficiency. Implement quality assurance programs that drive patient satisfaction and result in positive word-of-mouth referrals, which can contribute to sustained revenue growth. Use data analytics to assess the department's financial performance, patient trends, and operational efficiency, identifying areas to enhance revenue generation. Prepare regular reports for hospital leadership on financial performance, revenue growth, and key performance indicators (KPIs). Utilize market data and patient demographics to anticipate demand and plan future service offerings accordingly. Stay informed about the latest advancements in cataract treatments and surgical technology, ensuring that the department remains competitive and able to charge a premium for cutting-edge services. Explore the integration of new technologies or digital solutions (e.g., telemedicine consultations, patient management systems) to improve operational efficiency and revenue generation. Bachelor's degree in Business Administration, Healthcare Management, or related field (Master's degree preferred). Proven experience in business management, particularly in a healthcare setting, ophthalmology, or related medical fields. Strong knowledge of healthcare financial management, including billing, reimbursement processes, and revenue cycle management. Experience in developing and executing revenue-generating strategies, with a strong focus on market expansion and business growth. Familiarity with regulatory requirements in healthcare, especially within ophthalmology. Experience in marketing, business development, and patient acquisition. Strategic thinking and business development. Strong leadership skills with the ability to manage both clinical and non-clinical staff. In-depth knowledge of financial management, including budget creation, cost optimization, and revenue enhancement. Data-driven decision-making, using analytics tools to optimize revenue generation and business performance. Excellent communication and interpersonal skills for negotiation, team management, and relationship-building with external stakeholders.
Key Responsibilities :
Strategic Planning and Leadership :
- Develop and execute the business strategy for the cataract department, aligning it with the broader objectives of the healthcare facility.
- Set clear revenue and growth targets for the department, ensuring the business achieves profitability while maintaining high standards of patient care.
- Identify and capitalize on opportunities to expand service offerings, including advanced cataract treatments or new technology, to increase market share.
Revenue Generation :
Financial Management :
Operational Oversight :
Marketing and Patient Acquisition :
Team Leadership and Staff Development :
Compliance and Quality Assurance :
Data Analysis and Reporting :
Technology and Innovation :
Qualifications :
Skills :
Skills Required
Revenue Generation, Financial Management, Quality Assurance
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