Craig Richmond is a Director in Huron Consulting Group’s Healthcare practice, specializing in revenue cycle management, finance transformation, process reengineering, program management, corporate governance, and risk management services. Craig has more than 10 years of healthcare consulting experience servicing large health systems, academic medical centers, community hospitals, government medical centers, and physician groups.
Prior to joining Huron, Craig was a Senior Manager with Ernst & Young’s Health Sciences Advisory Services practice and with BearingPoint’s Health Services practice.
Representative examples of Craig’s experience include:
Co-led the development of a Sarbanes-Oxley Section 404 framework for not-for-profit healthcare providers focused on driving value by streamlining operations through the improvement of internal controls in financial reporting.
Served as key advisor to a Fortune 20 healthcare services and information technology company to develop a next generation, integrated patient access, clinical and receivable management solution.
Directed an accounting and finance operations review for a surgery department of a large academic medical center that involved budget preparation, forecasting and strategic planning, funds flow and overall organizational structure.
Led a team in providing internal audit services for a public, not-for-profit healthcare network to evaluate significant internal controls and business processes focused on the revenue recognition and contractual adjustment/allowance process.
Directed a financial and operational review of the internal control environment and processes impacting all aspects of the revenue cycle for a $4 billion, for-profit healthcare services provider.
Directed several revenue cycle assessments for a multi-institutional health system focused on standardizing performance metrics, operational policies, financial and operational indicators, and organizational structure.
Led the development of a business strategy for the integration of two business offices between two large acute care hospitals focused on financial benefits as well as structural/organizational requirements associated with a centralized business office approach.
Directed a business office performance improvement and cash acceleration/accounts receivable management initiative for a large acute care facility, resulting in a $9 million reduction in unbilled receivables and $21 million in cash collections from the liquidation of receivables.
Served as a revenue cycle advisor during the standardization and implementation of the McKesson HealthQuest System between two large acute care hospitals, which included the Patient Management, Patient Accounting, and Receivables Workstation modules.
Led a team in the development of the operational and financial infrastructure for a new revenue management organization, a $60 million company, for a large academic health system.
Managed and facilitated numerous revenue cycle process improvement teams that involved the redesign and implementation of enhanced policies, work processes, and control monitoring mechanisms.
Education & Certifications
Bachelor of Science, University of Delaware, Newark, DE
Certified Public Accountant
Florida Institute of Certified Public Accountants
American Institute of Certified Public Accountants
Healthcare Financial Management Association