Oversees timely and accurate cash collections by reconciling all patient accounts and coordinating closely with relevant departments. Plays a key role in streamlining billing and collection processes, resolving discrepancies, and maintaining financial compliance.
Daily Operational Execution
- Downloads the previous day’s outstanding report.
- Reviews patient bill details to identify outstanding cash balances and initiates necessary adjustments.
- Communicates with relevant departments and team leaders to resolve any discrepancies.
- Applies approved discounts once supporting documentation is scanned and follows up on missing documentation with department heads.
- Ensures that all departmental feedback and actions are submitted to the Accounts Receivable team.
Account Reconciliation and Discrepancy Management
- Reconciles patient accounts on a daily and weekly basis.
- Identifies and escalates discrepancies for timely resolution.
Patient Collections and Payment Plans
- Assists patients in understanding their outstanding balances.
- Negotiates overdue balances and sets up payment plans to ensure timely collections.
Process Improvement and Automation
- Collaborates with cross-functional teams to enhance billing and cash collection processes.
- Partners with the IT department to develop and automate billing validation and review procedures.
Reporting and Compliance
- Prepares and submits Key Performance Indicator (KPI) reports as required.
- Ensures compliance with hospital policies, internal guidelines, and financial regulations.
Team Contribution and Communication
- Participates actively in departmental meetings and improvement initiatives.
- Promotes a positive team environment and high staff morale.
General Support Duties
- Undertakes additional responsibilities as needed to support the department's evolving needs.
QUALIFICATIONS & SKILLS:
- Bachelor’s Degree in Accounting, Finance, or a related field.
- Professional Qualifications such as CA, CMA, ACCA, or CPA preferred.
PROFESSIONAL EXPERIENCE:
- Minimum of three (3) years of progressive experience in a finance or accounting role, preferably within a healthcare, hospital, or large enterprise environment.
- Knowledge of hospital revenue cycle operations, billing workflows, and patient account reconciliation procedures.
- Knowledge of healthcare financial regulations, insurance policies, and compliance requirements related to billing and collections.
- Knowledge of ERP platforms, hospital billing systems, and financial data structures used in healthcare operations.
- Skills in using Microsoft Excel, including pivot tables, VLOOKUP, and data analysis tools, for financial reporting and reconciliation.
- Skills in Reporting - prepare and present financial reports, including interpreting trends and communicating insights.
- Skills in Time Management and Organisation - meet tight daily deadlines and prioritise effectively in a high-volume environment.
- Ability to identify discrepancies in patient accounts, investigate root causes, and implement timely resolutions.
- Ability to negotiate payment plans with patients in a compassionate yet firm manner, ensuring financial commitments are met.
- Ability to collaborate with internal departments to automate, streamline, and improve financial processes.
- Ability to work independently with minimal supervision while also contributing as a dependable team member.
- Ability to maintain confidentiality, accuracy, and professionalism in handling sensitive financial information.