Job Description
Insurance Collections Analyst Overall Purpose of Job The mission of the Beacon Hospital is to provide exceptional patient care in an environment where quality, respect, caring and compassion are at the core of our practice. This must include all our patient dealings and Patient Accounts processes. Insurance Collections Analyst is responsible for all collection functions necessary to ensure the prompt and correct payment to the Hospital of all monies owed by insurers or patients and will be responsible for working accounts with balances according to their respective payer. Insurance Collections Analyst is responsible for the timely and accurate review of posting and balancing of payment or rejection and adjustment transactions which are necessary for closing accounts. Key Responsibilities and Deliverables: Be knowledgeable of full remit of Patient Accounts and Finance processes and their effect hospitalwide. Have specific operational knowledge of assigned insurance billing contract, agreements and responsibilities in reviewing and following up aged debt. Be cognisant of responsibility of analysts role in affecting hospital cash-flow. Manage assigned list by ensuring the timeliness and accuracy of payment postings and adjustments of accounts based upon functional standards. Responsible for all collection functions in relation to insurance. Analytically review payments of claims and report any potential quality gaps within our billing or claims process. Responsible for updating system notes with account activity and status. Be competent in the use of the IT structure and processes that support Patient Acccounts processes and accounts receivable team. Collaborate with team members to facilitate the delivery of effective billing services and follow-up to all customers to promote account reconciliation. Have sufficient knowledge or access to knowledge to provide correct information with regard to fees, excesses or co-payments on individual policies or individual procedures. Be aware of all payment methods available to Beacon and be knowledgeable in payment collection processes, be competent in processing and formatting of payment listings. Promote and maintain strong relationships with the health insurance companies for the follow up of aging accounts and account queries. Participate in regular checking, review and reconciliation of reconciliation measures to ensure validity of management reporting of Key Performance Indicators. Participate in all audits, service evaluations and process reviews to enhance the collection of outstanding payments. Comply with departmental and hospital policies and guidelines. Participate in meetings and other duties as requested and contribute to the on-going development of the department and hospital. Create an environment that encourages teamwork, positive attitudes and high morale. Person Specification: Qualifications Third level qualification in business or medical related field desirable but not necessary. Proficiency in MS Excel, Word and other related packages. Experience At least 2 years previous work experience in an administrative setting. Previous hospital work experience favourable. Job Specific Competencies and Knowledge Capacity for analytical thinking and problem-solving and possess good decision-making ability. Ability to work to financial targets within timeframes. Demonstrate an affinity for dealing with accounts, balanced by high level of customer & patient relation skills. Demonstrate an aptitude for computing with good keyboard skills and ability to learn hospital system and supporting IT Systems. Capable of communicating effectively and courteously with stakeholders, including insurance companies, hospital consultants, billing agencies, clinical staff and hospital management. Strong awareness of the need for confidentiality, discretion, precision and a methodical approach in all matters. Maintain motivation to get things done with attention to detail, within the constraints of a busy department. Personal Competencies To be self-motivated with a high capacity for responsibility and individual initiative while working within the team dynamic. Demonstrate an ability to prioritise work and handle large volumes of activity. Excellent organisational skills. A good level of English is required. Skills: Excel word attention to detail