What are the responsibilities and job description for the Business Office Manager position at LongTerm Healthcare Facility?
Position Purpose:
Leads, guides and directs the financial operations of the healthcare facility in accordance with generally accepted accounting principles; local, state and federal regulations, standards and established facility policies and procedures to achieve facility financial goals.
Required Qualifications
- Bachelor’s degree in Accounting, Business Administration or related field preferred.
- Must have at least three (3) years of experience in a billing or supervisory capacity in the business office of a hospital, nursing home, or other related health care facility.
- Knowledgeable of skilled nursing home regulations, procedures, laws, regulations and guidelines pertaining to long-term care.
Major Duties and Responsibilities
Plans, develops, organizes, implements, evaluates and directs the overall financial operation of the facility as well as its programs and activities, in accordance with generally accepted accounting principles and current state and federal laws/regulations.
Reports the facility’s financial performance at least monthly, and more frequently as needed, to the Administrator and the Board of Managers, Directors, and/or governing body as directed.
Identifies, in conjunction with the Administrator and selected department heads, the facility’s key performance financial indicators. Establishes an ongoing system to monitor these key indicators. These key performance indicators promote the fiscal health of the facility.
Evaluates key performance indicator outcomes with department heads to determine the need for action from leadership and/or management such as re-education or revisions related to the facility’s financial outcomes.
Develops and implements processes and systems in the Business Office to manage billing, collections (A/R), accounts payable (A/P), patient trust, liability notices, general ledger functions, business/payroll taxes, purchase orders, cash flow and all necessary business transactions using generally accepted accounting principles.
Ensures the Business Office procedures comply with regulatory requirements related to bed-hold notice requirements.
Develops and implements payroll accounting processes, including special accounting functions required by any employee benefit or retirement plans, insurance accounting required by the federal Family and Medical Leave Act, etc.
Produces monthly facility income statement.
Prepares financial records and cost reports for submission to authorized government agencies as required by current regulations.
Utilizes and is proficient in various excel, word, adobe, and other electronic reporting formats.
Maintains schedules for capital expenses and fixed asset depreciation.
Reviews and interprets monthly financial statements and provides relevant information to the Administrator and Board of Directors, Managers, or governing body.
Makes written and oral reports/recommendations routinely and as requested.
Ensures monthly billing is completed timely using facility A/R software.
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