What are the responsibilities and job description for the Manager Reimbursement & Revenue Accounting position at Advocate Health?
Major Responsibilities
Physical Requirements and Working Conditions:
- Leads the market level accounts receivable reserve process. Performs detailed review of balance sheet contractual allowances and bad debt reserve calculations for hospital billing, professional billing and continuing care. Performs a detailed review of quarterly hindsight and evaluates the results to determine necessary changes to accounts receivable reserve process. Establishes working relationships with managed health operations and revenue cycle to better understand additional considerations in setting accounts receivable reserves.
- Evaluates and monitors market level mix of accounts receivable for both hospital and professional billing, including documentation of fluctuations in mix each month, considering if any fluctuations should impact reserves recorded for the month.
- Assists with the explanation of budget to actual variances for contractual discounts, including working with managed care operations to understand fluctuations in the paid claims information, charity care, and the provision for bad debts. Assists in the preparation and presentation of net revenue results to financial planning as part of month end close process.
- Works directly with external auditors to facilitate audit process for market-level accounts receivable, reserves and revenue.
- Works with Managed Health cost reporting team to understand status of cost report settlements and related reserves and adjust the amounts recorded in the financial statements to reflect the current status. Ensures the third-party settlement accounting for Medicare and Medicaid open cost report balances are reconciled and assists in supporting the calculation with external financial auditors during year-end audit.
- Works with the Financial Reporting team to understand the status of any compliance and regulatory matters to document on at least a quarterly basis, an analysis of the revenue recognition reserves recorded.
- Act as market level Advocate Health finance representative for Epic and Net Revenue Projects. Manages and maintains relationship with Revenue Cycle leadership team in order to understand financial statement implications with billing, collection, and adjustment workflow changes. Understands the Epic logic of mapping revenue, payments, and adjustments to the general ledger. Provides accounting oversight to ensure all new Epic codes mapped to general are in accordance with Generally Accepted Accounting Principles.
- Partners with the Reimbursement Budget Planning Director in the development and forecasting of market-level revenue budgets. Ensures that budgeting for Gross and Net Patient Revenue is accurate, timely, and complies with accounting standards. Working with members from the revenue cycle and managed care operations, leads the analysis of budget variances on a monthly basis, including the preparation of the necessary analysis to document and explain the budget variance to leadership and finance.
- Partners with the Managed Health reimbursement department leadership with the valuation of regional Medicaid supplemental payment accounting for revenue and AR associated with each unique supplemental program. Ensures the accounting Medicaid supplemental balances are reconciled and assists in supporting the receivable with external financial auditors during year-end audit.
- Assist in ongoing compliance with Advocate Aurora Health’s internal control plan. Responsible for reviewing and directing the overall Accounting Operations internal controls plan and ensuring the plan continues to get updated as the business environment changes or as a result of process, system, and/or policy enhancements.
- Assists in the coordination and completion of internal and external auditors’ requests and queries in addition to holding the team accountable to meeting the required audit deadlines. Directs coordination and response of requests and queries related to reporting and regulatory requirements. Reviews estimation and risk areas while providing higher issue resolution. Participates in the development of the external audit plan with the auditors and the Financial Reporting Team.
- Performs human resources responsibilities for staff which include interviewing and selection of new employees, promotions, staff development, performance evaluations, compensation changes, resolution of employee concerns, corrective actions, terminations, and overall employee morale.
- Responsible for understanding and adhering to the organization's Code of Ethical Conduct and for ensuring that personal actions, and the actions of employees supervised, comply with the policies, regulations and laws applicable to the organization's business.
- None
- Bachelor’s degree in accounting, or bachelor’s degree in finance or related field.
- Typically requires 3 years of experience in health care reimbursement or public accounting with a concentration in hospital auditing that includes extensive auditing of the hospital net patient service revenue area, Medicare, Medicaid, or Blue Cross. Previous supervisory experience.
Physical Requirements and Working Conditions:
- This position requires travel, therefore, will be exposed to weather and road conditions.
- Operates all equipment necessary to perform the job.
- Exposed to a normal office environment.
