Medanta Hospital
Urgently Required
Billing Manager
Experience : 1 to 5 years
No of vacancies : 1
Job Description: The billing manager plays a crucial role in overseeing the billing processes within a healthcare organization, ensuring accuracy, efficiency, and compliance with regulatory standards. They manage the billing team, optimize billing processes, and collaborate with various departments to maintain a smooth revenue cycle.
Key Responsibilities: Billing System Management: Oversee the billing software or system used by the healthcare organization. This includes ensuring the system is updated, accurate, and compliant with regulations.
Billing Process Optimization: Continuously review and improve billing processes to increase efficiency, accuracy, and timeliness. This may involve streamlining workflows, implementing automation, and identifying areas for improvement.
Claims Processing: Manage the submission of insurance claims for services provided by the healthcare facility. This includes verifying patient information, coding services correctly, and submitting claims to insurance companies.
Revenue Cycle Management: Monitor the entire revenue cycle, from patient registration and insurance verification to claims submission, payment posting, and collections. Identify bottlenecks and implement strategies to improve revenue flow.
Compliance and Regulations: Stay updated on billing regulations, coding guidelines, and compliance requirements such as HIPAA (Health Insurance Portability and Accountability Act). Ensure billing practices adhere to these standards to avoid legal issues and penalties.
Team Leadership: Supervise billing staff, including billing specialists and coders. Provide training, guidance, and support to ensure team members are competent in their roles and follow established procedures.
Financial Reporting: Generate reports related to billing and revenue metrics, such as accounts receivable aging, claim denial rates, and revenue projections. Analyze data to identify trends, anomalies, and opportunities for improvement.
Collaboration: Work closely with other departments such as finance, coding, and compliance to resolve billing-related issues, address coding discrepancies, and ensure accurate financial reporting.
Audits and Quality Assurance: Conduct regular audits of billing records, claims, and coding accuracy. Implement quality assurance measures to identify and correct errors, reduce claim denials, and improve overall billing performance.
Patient Billing and Support: Assist patients with billing inquiries, payment plans, and financial assistance programs. Ensure patients understand their bills and payment options, and address any billing-related concerns professionally and empathetically.
Education Qualifications: Bachelor’s degree in healthcare administration, finance, or related field.
Certification in medical billing and coding (e.g., Certified Professional Biller, Certified Coding Specialist).
Several years of experience in healthcare billing, with a strong understanding of billing software and regulations.
Key Attributes: Attention to detail and accuracy in billing processes.
Strong leadership and team management skills.
Proficiency in data analysis and financial reporting.
Excellent communication and collaboration abilities.
About the Role: Collaborates with finance department for financial reporting and budgeting.
Works with coding department for accurate code assignment.
Engages with compliance department for regulatory adherence.
Supports patient services with billing inquiries and assistance.
Interfaces with insurance providers for claims processing and reimbursement.