Rick Stoneking

About Rick Stoneking

As a seasoned Vice President with operational leadership and business administration in Revenue Cycle Management, I bring over two decades of experience in healthcare administration, finance, and operations. My proficiency lies in establishing a strategic vision in revenue optimization, end to end claims processing systems, implementing performance metrics, hands on project management, and enhancing payer accountability to drive profitability and effective denial management. Throughout my career, I have led continuous process improvement claims adjudication automation projects that increased overall profitability by $10M annually, delivered an annual reduction in bad debt exceeding $8M and led financial integration for multi-billion-dollar M&A transactions. Notably, my strategic realignment of receivables strategy and cash flow management through data driven insights that safeguarded significant revenue increases while ensuring compliance with payer contracts and reimbursement accuracy.Beyond just numbers, my leadership extends to cross-functional collaboration with internal technical groups and external technology/industry partners, operations, and finance to boost operational workflow efficiency. I increased operational efficiencies by 15% increase in pharmacy workflow efficiency through the implementation of real-time prescriber validation points. Moreover, I have strengthened revenue integrity by developing targeted internal controls aligned with healthcare billing regulations, marking a significant reduction in audit risk.

Experience

1. Vice President of Healthcare Revenue Cycle

   Rite Aid

   Mar 2020 — Present · Harrisburg, PA, US

   Accelerated revenue cycle profitability by $5M through enterprise-level data optimization and implementation of performance metrics that eliminated systemic claim rejection issues.• Delivered $8M+ annual reduction in bad debt by restructuring receivables strategy, enhancing payer accountability, and optimizing cash flow management across the organization.• Led financial and operational integration for three multi-billion-dollar M&A transactions, aligning healthcare claims and accounting systems to support strategic growth and ensure post-merger value realization.• Safeguarded hundreds of millions in revenue over the years by ensuring payer contract compliance and reimbursement accuracy, proactively managing regulatory shifts and audit readiness across diverse healthcare payor portfolios.

Education

• Juniata College

  Bachelor of Science - BS, Accounting

  1986 — 1990

Skills

• Business Analysis
• Hipaa
• Pharmacy
• Healthcare Management
• Software/System Implementation
• Coso Framework
• Pharmaceutical Industry
• Business Process Improvement
• Healthcare Industry
• Health Insurance
• Managed Care
• U.s. Health Insurance Portability and Accountability Act (Hipaa)
• Strategic Planning
• Leadership
• Process Improvement
• Medicare Part D
• Pharmaceutical Sales
• Insurance
• Call Centers
• Sarbanes-Oxley Act
• Pharmacy Automation
• Informatics
• Pharmacy Benefit Management
• Customer Service