Key Account Billing Specialist - Healthcare

Responsibilities

• Responsible for the development of strategies aimed at reducing Addressable bad debt, including benchmarking
• Partner with internal and external stakeholders to implement process improvements to address clients with high bad debt or revenue write off experience by interfacing with sales and operations to create and implement action plans for improvement.
• Direct interfacing with the client and/or Sales to address outstanding, past due client balances and obtain billing information for items moved to third parties
• Coordinate and work with Corporate Billing on customer facing initiatives with the goal of communicating and assisting with the adoption of technology and tools developed to improve the account performance with regards to defects.
• Provide billing training to phlebotomists, Sales, and clients to ensure correct billing and prompt payment. Training to include reviewing client billing invoices, obtaining appropriate 3rd party billing information, eClaim Assist, ABNs, RPI and Medical Necessity
• Work with clients and divisional employees to resolve billing issues to increase cash and reduce bad debt. From findings, drive corrective action plans and monitor improvements.
• Work with RPI to analyze the accounts with high volume specimen information requests who are not responding as needed and work with Sales to educate client.
• Conducts comprehensive client audits to assess denials to drive reduction of addressable bad debt and improve the overall financial performance of the division
• Develops comprehensive training and serves as the Subject Matter Expert on billing management to ensure alignment with billing requirements.
• Engages and provides leadership for monthly sales meetings to review overall billing performance for the regions
• Conduct comprehensive billing business reviews
• Act as liaison between Division and Revenue Cycle Management
• Provide spreadsheets and payer information to Sales to assist with collections billing information and updating clients on payer policies
• Analyzes third party billing procedures, policies and results
• Identifies and evaluates developments that may impact LabCorp's business
• Assist in determining best options to reduce Addressable Bad Debt by reviewing key indicators
• Assist in determining best options to improve Revenue by reviewing key indicators
• Analyzes client AR for delinquency
• Discuss cause of delinquency with Sales and work through issues to resolve outstanding balances
• Complete special projects as required, collaborating with cross-functional teams to ensure strategic objectives are met and delivering on expected outcomes.

Requirements

• 5 or more years' experience working in a business-to-business credit and accounts receivable function.
• Bachelor's degree in business, accounting or finance.
• 2 or more years' experience working in the healthcare industry.
• Additional Job Standards:
• Exceptional Microsoft Excel skills required
• Strong knowledge and demonstrated relevant billing experience in the medical diagnostic laboratory industry
• Knowledgeable in all aspects of Revenue Cycle Management (Billing) and Accounts Receivable processes
• Experience working with and understanding of EMRs
• Demonstrated experience in collaborating across diverse teams at various organization levels
• Strong written and verbal communication skills
• Able to discuss root cause analysis and provide possible resolution for issues
• Strong organization, follow-up, and time management skills
• Handles highly confidential information with professionalism
• Thrives in fast-paced environments with the ability to manage multiple high-impact initiatives simultaneously
• Builds and maintains strong partnerships, facilitating strategic collaboration with C-Suite executives
• Innovates and implements strategic initiatives independently, with minimal direction from management
• Ability to effectively communicate with colleagues and clients across diverse geographic locations through virtual communication means
• Goals:
• Account Bad Debt Reduction
• Determine root cause of bad debt
• Formulate, provide and communicate a plan of action w/sales and other key stakeholders and track progres
• Revenue Recapture - Monthly
• Identify payer policy, diagnosis code limitation, or other limitation resulting in write off
• Formulate, provide and communicate plan of action with KAE and regional leadership and track progress
• Delinquent Client AR - XX% of assigned accounts monthly
• Determine root cause of delinquency
• Formulate, provide and communicate a plan of action to resolve delinquency with corporate and divisional partners and track progress
• Escalate if remains unresolved within month
• Client Adjustment Requests
• Review adjustment request for accuracy and compliance
• Return requests which are inaccurate or non-compliant
• Send accurate/compliant requests to

Additional Information

Key Account Billing Specialist - Healthcare Labcorp is seeking a remote Key Account Billing Specialist to join our Atlantic Division!

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