The Director of Patient Financial Services is responsible for provides senior-level management to the operations of hospital revenue department.The position directs activities of patient registration, financial clearance, third party billing, patient billing, insurance and patient liability follow-up, cash posting and customer service. It provides technical and change management expertise to improve various revenue management processes within hospital. The incumbent works closely with other revenue functional areas including reimbursement, payer negotiations and contracting, utilization management and coding. They also manage vendor relationships for patient collections, bad debt management and other activities as needed.
Duties & Responsibilities:
Plans, directs and evaluates the management of timely and accurate preparation and submissions of all the Agency’s programs’ claims to appropriate pay sources in order to ensure consistent cash flow.
Plans, directs and evaluates the management of timely and successful follow-up of all outstanding account balances.
Oversees and is accountable for an established closing schedule and all other established guideline/policies and procedures to facilitate billing timeliness.
Plans, directs and evaluates the utilization of accounts receivable reports to monitor account balances and establish priorities for collection activities.
Plans, directs and evaluates posting and reconciliation of third party payments received.
Ensures the maintenance of appropriate billing records to meet legal and regulatory requirements.
Analyzes and approves applications for Charity Care and Reduced Rate Agreements.
Prepares and analyzes statistical reports, forwards to executive management as directed.
Reviews and analyzes, researches, implements and monitors regulation and contract changes that affect the agency billing system and billing/reimbursement procedures and coordinate with vendor and other departments as required.
Provides guidance to supervisory personnel in the hiring of subordinates.
Performs other duties as assigned.
Bachelors degree in business or related field. Masters degree preferred. CPAM, CRCR Certification(s) highly desirable.
Five years supervisory experience with patient accounts or other revenue cycle functions.
Working knowledge of registration, hospital billing, collections, revenue cycle and HIM regulations.
Experience working with PC based software programs.
Experience with management of computerized billing systems.