Patient Financial Revenue Analyst
Location: Boca Raton, Florida US
Job Number: 1209
Position Title: Patient Financial Revenue Analyst
This position is a key member of the Unified Revenue Cycle Team. The Patient Financial Revenue Analyst is charged with the development, implementation, and operation of a comprehensive and highly effective patient liability management solution, across a matrixed and complex organization. The scope of the management program includes but is not limited to:
- Time of service collection techniques for self-pay, co-pay, deductible & co-insurance
- Patient accounts receivable & billing process standardization
- Pre-payment and payment plan strategies
- Bad debt & collection policies
- Patient education and communication
- Best practice identification, implementation, and training
Our ideal candidate will be highly analytical, detail-oriented and possess a strong problem-solving competence used to challenge the status quo. The candidate will utilize reporting, data and analytics to assess improvements that will achieve Revenue Cycle Management performance and financial objectives. The position will provide operational support on current processes and help identify opportunities and solutions to meet current and future business needs. Serve as a change agent for the development and implementation of performance and process improvement ideas throughout the entire Revenue Cycle organization with a focus on long term cash collection improvement outcomes as well as cost avoidance and savings through operational efficiencies.
The key performance indicators for this position include but are not limited to days in accounts receivable, cash collection as a percentage of the expected amounts, vendor collections performance, and practice-level collection results.
- Analyze data at the corporate, regional and practice level to identify trends
- Identify performance indicators and benchmarks to drive improvement
- Monitor and manage the end-to-end patient accounts receivable process
- Determine true root cause of outliers to the customary performance objectives
- Implement system enhancements and tools that will speed patient payment cycle
- Evaluate recurring problems that impede the orderly and timely resolution of accounts
- Develop creative and compliant solutions to encourage upfront payment of co-pays, deductibles, and coinsurance
- Exceed targets for self-pay days in accounts receivable, time of service collections and net collection rate
- Collaborate with internal and external stakeholders to persuade change and influence payment/collection behaviors for outstanding balances
- Recommend policies and procedures, obtaining required approvals from Compliance, Market Leadership and Corporate Governance Boards
- Create patient-facing policies, forms and educational materials
- Develop communication strategies and training collateral for office staff
- Manage collections policies and bad debt programs
- Establish relationships with external collection vendors and negotiate rates
- Drive billing system enhancements to implement easy and convenient payment options
- Develop controls to monitor operational processes and verify that policies and procedures are being followed
- Proactively communicate status and critical issues/risks to leadership as needed
- Work necessary hours to meet all project deadlines and travel when necessary
- Bachelor’s degree in Healthcare Management, Finance or related field preferred, may be substituted by direct experience in the field
- 5-years of experience in healthcare Revenue Cycle Management
- Minimum 3-years of collections experience preferred
- Extensive knowledge of healthcare, government, third-party payer and compliance rules for billing and collections
- Demonstrated ability to collaborate, persuade & influence human behavior
- Experience partnering with a dynamic leadership team and navigating enterprise politics.
- Intermediate Microsoft Excel (e.g., Pivot Tables, Charts, combining data sets) strongly preferred
- Experience with Microsoft PowerPoint, Visio and Word
- Experience with budgeting and forecasting desired
- Excellent planning, organizational, and time management skills required.
- Able to learn and adapt to continuously changing business and technology needs.
- Able to work independently with minimal guidance and as part of a team.
- Able to communicate clearly and concisely, both in written and verbal form.
- Able to translate collections and billing policies at the patient level
- Must be action and results oriented.
City: Boca Raton
Community / Marketing Title: Patient Financial Revenue Analyst
Unified Women’s Healthcare is a company dedicated to caring for Ob-Gyn providers who care for others, be they physicians or their support staff. A team of like-minded professionals with significant business and healthcare experience, we operate with a singular mindset - great care needs great care. We take great pride in not just speaking about this, but executing on it.
As a company, our mission is to be an indispensable source of business knowledge, innovation and support to the practices in our network. We are advocates for our Ob-Gyn medical affiliates – enabling them to focus solely on the practice of medicine while we focus on the business of medicine.
We are action oriented. We strategize, implement and execute – on behalf of the practices we serve.
EEO Employer Verbiage:
We offer a competitive salary and an excellent benefit package that includes health/dental/life/STD/LTD/vision insurance, paid time off, and 401(k) plan. This company is a drug-free workplace and an Equal Employment Opportunity employer.