Associate - Revenue Cycle Management

Aster Medcity is looking for Senior Associate - Revenue Cycle Management to join our dynamic team and embark on a rewarding career journey. As a Senior Associate in Revenue Cycle Management, you will be responsible for ensuring the efficient and effective functioning of the revenue cycle processes within a healthcare organization. You will oversee various aspects of revenue cycle operations, including patient registration, charge capture, coding, billing, claims processing, denial management, and accounts receivable follow-up. Your primary goal will be to optimize revenue generation, maximize collections, and minimize denials to ensure the financial health of the organization.

Responsibilities:

Revenue Cycle Oversight:

• Manage and supervise the revenue cycle operations, ensuring compliance with regulatory requirements and industry best practices.
• Develop and implement strategies to optimize revenue generation and enhance cash flow.
• Monitor key performance indicators (KPIs) and financial metrics to identify trends, areas for improvement, and potential revenue leakage.
• Collaborate with cross-functional teams, such as clinical departments, finance, coding, and compliance, to streamline revenue cycle processes.

Billing and Claims Management:

• Oversee the timely and accurate submission of claims to third-party payers, including Medicare, Medicaid, commercial insurance companies, and self-pay patients.
• Monitor claim status and work closely with the billing team to resolve any coding or billing discrepancies.
• Analyze denial patterns, identify root causes, and implement corrective measures to minimize denials and maximize collections.
• Stay updated with changes in healthcare regulations, payer policies, and coding guidelines to ensure compliance and accurate billing.

Accounts Receivable Management:

• Review and analyze accounts receivable aging reports to identify delinquent accounts and take appropriate actions for timely payment.
• Implement strategies for effective accounts receivable follow-up, including phone calls, appeals, and negotiations with payers and patients.
• Collaborate with the finance team to reconcile payments, identify posting errors, and resolve outstanding balances.
• Provide guidance and support to the team in resolving complex billing and reimbursement issues.

Process Improvement:

• Continuously assess revenue cycle processes, identify inefficiencies, and recommend process improvements to enhance operational efficiency and revenue integrity.
• Implement automation and technology solutions to streamline workflows and reduce manual intervention.
• Conduct regular audits and reviews to ensure compliance with coding guidelines, billing regulations, and internal policies.
• Develop and deliver training programs to educate staff on revenue cycle best practices, coding updates, and compliance requirements.

Qualifications:

• Bachelors degree in Healthcare Administration, Business Administration, or a related field (master's degree preferred).
• Experience in revenue cycle management or healthcare finance.
• Strong knowledge of healthcare reimbursement systems, billing regulations, and coding guidelines (e.g., CPT, ICD-10, HCPCS).
• Proficiency in using revenue cycle management software and electronic health record (EHR) systems.
• Familiarity with third-party payer requirements, including Medicare, Medicaid, and commercial insurance.
• Excellent analytical and problem-solving skills with the ability to interpret financial data and identify trends.
• Strong leadership and team management abilities.
• Effective communication and interpersonal skills to collaborate with various stakeholders.
• Certified Professional Biller (CPB) or Certified Revenue Cycle Specialist (CRCS) certification is a plus.

Note: The above job description is a general outline and may vary depending on the organization and its specific requirements.

Role: Practice Manager / Head

Industry Type: Medical Services / Hospital

Department: Engineering - Software & QA

Employment Type: Full Time, Permanent

Role Category: Software Development

Education

UG: Any Graduate

PG: Any Postgraduate