Finance

Revenue Cycle Analyst

Looking to hire your next Revenue Cycle Analyst? Here’s a full job description template to use as a guide.

About Vintti

Vintti is a strategic staffing agency that enhances the competitiveness of US businesses. By connecting SMBs, startups, and firms with highly skilled Latin American professionals, we offer a cost-effective solution to talent acquisition. Our model allows companies to access top-tier expertise at rates that significantly reduce overhead costs, enabling businesses to allocate resources more efficiently and boost their bottom line.

Description

A Revenue Cycle Analyst plays a vital role in healthcare organizations by optimizing revenue processes, ensuring accurate billing, and improving financial performance. They analyze and monitor the entire revenue cycle, from patient registration and insurance verification to claims processing and payment collections. By identifying inefficiencies and implementing best practices, Revenue Cycle Analysts help organizations maximize their revenue streams and enhance operational efficiency. They are vital in interpreting data trends, generating reports, and providing actionable insights to management, ultimately supporting the financial health of the organization.

Requirements

- Bachelor's degree in Finance, Accounting, Healthcare Administration, or a related field.
- Minimum of 3-5 years of experience in revenue cycle management or a related role in healthcare.
- Strong analytical and quantitative skills with proficiency in financial data analysis.
- Extensive knowledge of medical billing, coding, and payment processing.
- Familiarity with healthcare regulations, including HIPAA, CMS, and other relevant guidelines.
- Experience with revenue cycle management software and electronic health records (EHR) systems.
- Proficiency in Microsoft Office Suite, particularly Excel.
- Strong problem-solving skills with the ability to identify root causes and implement corrective actions.
- Excellent written and verbal communication skills.
- Ability to work collaboratively with cross-functional teams.
- Detail-oriented with strong organizational skills.
- Ability to manage and prioritize multiple tasks and projects effectively.
- Understanding of accounts receivable processes and audit practices.
- Knowledge of key performance indicators (KPIs) relevant to the healthcare revenue cycle.
- Commitment to continuous learning and staying updated on industry trends and regulations.
- Ability to provide training and support to staff on revenue cycle processes.
- Demonstrated ability to develop strategies to optimize revenue cycle processes and reduce claim denials.
- Experience in conducting financial impact analysis of regulatory changes.

Responsabilities

- Analyze financial data to identify improvement areas in the healthcare revenue cycle.
- Monitor trends in billing, coding, and payment processing.
- Collaborate with the billing team for coding and billing accuracy.
- Generate and interpret detailed revenue cycle performance reports.
- Identify and resolve discrepancies in billing and insurance claims.
- Conduct accounts receivable audits for regulatory compliance.
- Develop strategies to optimize revenue cycle processes and reduce claim denials.
- Assist in implementing new revenue cycle technologies and software.
- Provide training on revenue cycle processes and best practices to staff.
- Communicate with insurance companies to resolve outstanding claims issues.
- Track KPIs related to revenue cycle management.
- Maintain accurate records of transactions and billing activities.
- Participate in management meetings to discuss revenue cycle performance.
- Stay updated on industry trends, regulations, and best practices in revenue cycle management.
- Ensure compliance with federal, state, and local billing and revenue cycle regulations.
- Evaluate the financial impact of regulatory changes on revenue cycle processes.
- Perform root cause analysis on recurrent billing issues and recommend corrective actions.

Ideal Candidate

The ideal candidate for the Revenue Cycle Analyst role will possess a Bachelor's degree in Finance, Accounting, Healthcare Administration, or a related field, coupled with a minimum of 3-5 years of experience in revenue cycle management within the healthcare industry. This individual will be highly analytical and detail-oriented, demonstrating strong financial acumen and proficiency in financial data analysis. With extensive knowledge of medical billing, coding, and payment processing, they will be well-versed in healthcare regulations such as HIPAA and CMS. The candidate will have hands-on experience with revenue cycle management software and electronic health records (EHR) systems, as well as advanced proficiency in Microsoft Excel. As a proactive problem-solver, they will exhibit excellent written and verbal communication skills, enabling them to collaborate effectively with cross-functional teams and liaise with insurance companies to resolve claims issues. Their strong organizational and time-management skills will allow them to manage and prioritize multiple tasks and projects effectively. With a commitment to continuous learning, they will stay updated on industry trends and regulatory changes, applying their knowledge to develop strategic improvements in the revenue cycle processes. Demonstrated ability to provide training and support to staff, alongside a high level of integrity and ethical standards, will be key attributes of this candidate. Lastly, their critical thinking, analytical reasoning skills, and customer service-oriented mindset will make them a valuable team player, capable of handling sensitive information with the utmost confidentiality.

On a typical day, you will...

- Analyze financial data related to the healthcare revenue cycle to identify areas for improvement.
- Monitor and evaluate trends in billing, coding, and payment processing.
- Collaborate with the billing team to ensure accuracy in coding and billing practices.
- Generate and interpret detailed reports on revenue cycle performance metrics.
- Identify and resolve any discrepancies or issues in billing and insurance claims.
- Conduct audits of accounts receivables to ensure compliance with industry regulations.
- Develop strategies to optimize revenue cycle processes and reduce claim denials.
- Assist with the implementation of new revenue cycle technologies and software.
- Provide training and support to staff on revenue cycle processes and best practices.
- Communicate regularly with insurance companies to resolve outstanding claims issues.
- Track key performance indicators (KPIs) related to revenue cycle management.
- Update and maintain accurate records of all transactions and billing activities.
- Participate in regular meetings with management to discuss revenue cycle performance and improvements.
- Stay current on industry trends, changes in regulations, and best practices in revenue cycle management.
- Ensure that all billing and revenue cycle activities comply with federal, state, and local regulations.
- Evaluate the financial impact of regulatory changes on revenue cycle processes.
- Perform root cause analysis on recurrent billing issues and recommend corrective actions.

What we are looking for

- Highly analytical and detail-oriented
- Strong financial acumen
- Proactive problem-solver
- Excellent communication skills
- Collaborative team player
- Adept at multitasking and managing priorities
- Strong organizational and time-management skills
- Continuous learner with a passion for staying updated on industry trends
- Thorough understanding of healthcare billing and coding practices
- Technologically savvy with experience in relevant software
- Ability to work independently and with minimal supervision
- High level of integrity and ethical standards
- Strong critical thinking and analytical reasoning skills
- Customer service-oriented with strong interpersonal skills
- Ability to handle sensitive information with confidentiality
- Skilled in developing and implementing strategic improvements

What you can expect (benefits)

- Competitive salary range based on experience and qualifications
- Comprehensive health, dental, and vision insurance
- Flexible spending accounts (FSA) and health savings accounts (HSA)
- 401(k) retirement plan with company matching
- Generous paid time off (PTO) and holiday leave
- Opportunities for professional development and continuing education
- Tuition reimbursement program
- Employee wellness programs
- Remote work flexibility and telecommuting options
- Life and disability insurance
- Paid parental leave
- Employee assistance program (EAP)
- Career advancement opportunities within the organization
- Collaborative and supportive work environment
- Company-sponsored events and team-building activities
- Discounted gym memberships and fitness program incentives
- Access to the latest technology and software tools
- Reimbursement for professional certification and licensing fees
- Employee referral bonus program

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