The
Head of Billing and Revenue will lead, manage, and optimize all billing and revenue cycle operations to ensure accurate, efficient, and timely billing practices in a large corporate hospital in Chennai. This individual will work closely with various hospital departments, such as finance, patient services, and insurance, to enhance revenue generation and streamline processes. The role demands strong leadership, strategic acumen, and extensive knowledge of healthcare billing and revenue management to drive operational excellence and financial performance.
Key Responsibilities:
Billing and Revenue Operations Management:
- Oversee end-to-end billing processes, ensuring compliance with hospital policies and regulatory standards.
- Develop and implement revenue cycle strategies to optimize billing accuracy, reduce denials, and improve cash flow.
- Ensure timely submission of bills and follow up on outstanding payments from patients, insurance companies, and other third-party payers.
Strategic Planning and Performance Optimization:
- Design and implement processes to enhance revenue collection and minimize errors in billing.
- Set and monitor key performance indicators (KPIs) for billing and collections to achieve targeted revenue goals.
- Work with senior management to forecast revenue and set financial targets.
Team Leadership and Development:
- Lead and mentor a team of billing and revenue cycle professionals, fostering a culture of excellence, accuracy, and accountability.
- Conduct performance reviews, provide feedback, and identify training needs to strengthen team capabilities.
Compliance and Quality Assurance:
- Ensure all billing practices align with regulatory and compliance standards (e.g., NABH, JCI).
- Implement quality control measures to prevent billing errors, fraud, or revenue leakage.
- Stay updated on changes in healthcare regulations, insurance protocols, and industry best practices.
Patient Relations and Communication:
- Work closely with patient service teams to address billing inquiries, grievances, and disputes.
- Ensure transparent communication with patients and their families regarding billing procedures and costs.
Collaboration and Cross-Functional Coordination:
- Collaborate with finance, medical, and administrative departments to ensure accurate documentation and data sharing.
- Liaise with the IT team to maintain and upgrade billing software and systems as required.
Data Analysis and Reporting:
- Analyse revenue data to identify trends, opportunities, and risks, and generate reports for senior management.
- Recommend actionable insights to improve revenue cycle performance and profitability.
Qualifications:
- Bachelor's degree in Finance, Healthcare Administration, or a related field; a Master's degree or certification in healthcare finance (e.g., HFMA) is preferred.
- Minimum of 12-15 years of progressive experience in hospital billing and revenue management, with at least 5 years in a leadership role.
- Strong understanding of hospital billing, revenue cycle management, and healthcare compliance requirements.
- Proven track record of managing a large team and achieving financial targets in a healthcare setting.
Skills and Competencies:
- Technical Expertise: In-depth knowledge of healthcare billing, coding, and compliance regulations.
- Leadership Skills: Ability to lead, motivate, and develop a team toward achieving goals.
- Analytical Skills: Proficient in data analysis, with strong problem-solving abilities to enhance revenue cycles.
- Communication Skills: Excellent interpersonal skills, with the ability to communicate effectively with patients, staff, and executives.
- Attention to Detail: High level of accuracy and meticulous attention to billing details and compliance.
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