Accounts Receivable Supervisor

Company: LifeScan Labs
Location: Skokie
Posted on: July 30, 2022

Job Description:

The Supervisor, Accounts Receivable is responsible for open accounts receivable collections for government and commercial payers across all clients. The Supervisor analyzes and manages claim inventory and identifies improvements to reduce denials, increase collections, and decrease avoidable write-offs. Assures that all accounts are assigned and processed timely according to payer guidelines, contractual agreements, and government regulations. In collaboration with Client Services, the Supervisor, ensures claim transfers from insurance to client adhere to contract terms and Lifescan Labs policy and procedure.The Supervisor partners with the Revenue Cycle, Sales, and Operations Teams to evaluate and optimize processes to improve the client experience, enhance operational efficiencies, and drive revenue growth.Essential Job Functions:

• Manages the insurance accounts receivable for government, commercial, and third party payers as required to obtain reimbursement.
• Continually monitors claims volume and aging. Actively follows up on aged pending claims that require resolution or next action for payment. Actively manages the distribution, prioritization of accounts, and assignment of work for Accounts Receivable Specialists and offshore team.
• Oversees denial management by performing denial analysis and creates improvement plans to reduce overall denials and decrease payment lag by payer or client.
• Coordinates and schedules cross-departmental denial management meetings as needed to reduce denials and write-offs.
• Reviews insurance payment trends to validate reimbursement is in accordance with contract terms, Medicare fee schedule, or as paid as expected. Ensures underpayment appeals are submitted timely per payer guidelines.
• Maintains knowledge of and ensures compliance with state and federal laws, regulations for Medicare, Medicare Advantage, Medicaid, managed care and other third party payers.
• Collaborates with Revenue Cycle Leadership to develop and implement revenue cycle key performance indicators to evaluate the overall performance of the revenue cycle and payer relations.
• Schedules weekly business review meetings with the offshore team to assess performance and key performance metrics.
• Documents and maintains current workflows, policies, standard operating procedures, and department training material.
• Identifies accounts receivable issues, researches and analyzes data, creates action plans, and implements solutions for improvement.
• Assists IT with testing new features and functions in the practice management system. Develops training material and trains staff members on new revenue cycle system implementations in collaboration with It Project Managers.
• Acts as subject matter expert for insurance claims and denials. Assists Client Services with inquiries received directly from Clients and Account Managers.
• Utilizes Open Accession Report Template developed by IT Project Managers to update Client reports bi-weekly or monthly. Ensures reporting responsibility is assigned to Client Service Specialists and reports are created and delivered timely to Clients.
• Partners with the Revenue Cycle Analyst to generate and validate ad hoc report requests. Summarizes report findings not aligned with quality expectations and partners with appropriate team to document issue and/or develop corrective action.
• Coaches, develops and mentors Accounts Receivable Specialists. Performs on-the-job training to increase Specialist's skill sets.
• Works with Director, Revenue Cycle to develop productivity and quality metrics for Accounts Receivable Specialists and the offshore team. Executes and monitors productivity and quality performance per Specialist.
• Performs quality audits, identifies opportunities, provides feedback, implements payer specific training and/or action plans to improve accuracy and meet production/patient satisfaction targets.
• Collaborates with Supervisor, Revenue Integrity to disseminate new regulatory and payer changes to the Revenue Cycle, Sales, and Operations Teams.
• Provides coverage and backup of other Revenue Cycle functional areas as required to avoid disruption in business operations.
• Partners with Revenue Cycle, Sales, or Operations Management on special projects.
• Remains current with trends, regulatory requirements, and business strategies related to the payer relations and revenue cycle.
• Operates in compliance with all local, state and Federal laws as well as policy and compliance standards.
• All other duties as assigned.Education and Experience:
  • Bachelor's Degree in business, information systems, finance, or related field preferred.
  • 5+ years-experience in the revenue cycle with a strong focus on CMS1500 insurance claims and accounts receivable management required.
  • 4+ years-experience as a Lead or Supervisor in the revenue cycle, patient financial services, or on a billing team required. Supervisory Responsibilities: Supervises up 5 direct reports. Supervises an offshore accounts receivable team. Key Job Competencies:
    • Microsoft Office skills - Proficiency with Excel, Power Point, Word, and Visio.
    • Exceptional detail orientation, critical thinking, analytical, and problem-solving skills.
    • Ability to work autonomously and efficiently within designated timeframes in a fast-paced environment.
    • Expertise in government, commercial and third-party payer claims submission, denial resolution, and appeals processes.
    • Ability to interpret and apply government and insurance payer billing guidelines, claim rules, and insurance payer contract terms.
    • Knowledge of CPT and ICD coding systems.
    • Ability to collaborate and work cohesively as part of a team.
    • Communicates effectively orally and in writing with all levels of the organization and an offshore team.
    • Customer service client first aptitude.Schedule:Monday - Friday 9:00Am - 5:30PMLocation: Skokie IL.

Keywords: LifeScan Labs, Skokie , Accounts Receivable Supervisor, Other , Skokie, Illinois