What are the responsibilities and job description for the Healthcare Revenue Management Specialist position at Pentech Healthcare?
Key Responsibilities
Data Sharing and Policy Development:
Serve as a liaison between Accounting and RCM, facilitating regular data sharing on expected collection rates, changes in expected collection rates, actual cash collections, accounts receivable, denials, and write-offs.
Help develop policies and procedures governing changes to expected revenue rates, including documentation of review and approval processes.
Real-Time Revenue and Collection Analysis and Adjustments:
Collect and analyze billing and collections data from RCM and Pentech's EMR system, CPR .
Track actual versus expected collections, identifying variances to both expected and prior periods in a timely manner; investigate variances and propose corrective actions or process improvements with the assistance of RCM and Accounting.
Allowance and Reserve Management:
Participate in the preparation and roll-forward of allowance and reserve accounts, ensuring timely and accurate adjustments to the reserve based on current collection performance, changes in expected revenue rates, changes in payor mix, and changes in expected future collections.
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