Revenue Cycle Business Analyst

4 weeks ago

Titusville, United States Parrish Medical Center Full time
Job DescriptionJob DescriptionDepartment:
Business Office

Schedule/Status:
8am-430pm; Full Time

Standard Hours/Week:
40
Location:

General Description:
Reporting to the Executive Director of Revenue Cycle, the Revenue Cycle Business Analyst will analyze healthcare data sets, including patient records, claims data, financial reports, and operational metrics. This position will also be responsible for the Business Office vendors relationship/management to ensure operational efficiency and financial performance according to the contracts. Also responsible for collaborating with the Finance/Financial Planning team on regulatory audits, desk reviews, and examinations. This position will be responsible for facilitating discussions between different departments and Divisions to align business objectives and priorities.
The position shall exemplify the desired Culture of Choice and philosophies of Parrish Healthcare.

Key Responsibilities:
  • Performs business analysis of existing vendor contracts/assignments as requested by management and assists in preparing financial feasibility studies of vendors operational performance.
  • Analyze/Report on revenue cycle data including claims, reimbursements, denials, and collections to identify trends, patterns and potential areas of revenue leakage.
  • Identify opportunities for process improvement and efficiency gains within the Revenue Cycle division. Prepare and monitor staff productivity metrics for the department.
  • Works closely with business office and financial staff at the hospital to develop meaningful analysis, routine utilization reports and assist as needed for regulatory audit, desk reviews and examinations.
  • Collaborates with Parrish Medical Group leadership on mutually inclusive revenue cycle projects.
  • Stay current with healthcare regulations and compliance requirements such as Charity Care Eligibility, Bad Debts management, payer guidelines, A/R performance to ensure adherence to industry standards.
  • Coordinates revisions and updates to reports and templates used in month end processes and other reporting cycles. Implements processes to improve overall efficiency and effectiveness of data capture and reporting. Queries system reporting tools for ad hoc reports used for decision making and performance benchmarks.
  • Acts as liaison with business office and vendors to resolve reporting errors or advance report formats.
  • Monitor key performance indicators (KPI) such as days in accounts receivable (A/R), clean claim rate and denial rate to assess revenue cycle performance.
  • Performs CDM adds/deletes/edits in the absence of the Revenue Integrity Manager.
  • Conduct charge capture reviews to ensure accurate and complete billing for services rendered.
  • Prepares reports as requested by management for internal stakeholders, and external customers.
  • Performs similar or related duties as assigned.
  • Knows fire, disaster and safety procedures and regulations as it pertains to the work area
Requirements:

Formal Education:
  • Associated Degree required in healthcare management, business administration, or related field. Bachelors Degree preferred
Work Experience:
  • 2 years to < 3 years
Required Licenses, Certifications, Registrations:
  • N/A

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