What are the responsibilities and job description for the Senior RCM Project Analyst position at Aegis Sciences Corp?
The Senior RCM (Revenue Cycle Management) Project Analyst is responsible for analyzing and optimizing the financial processes within a laboratory organization, including patient registration, coding, billing, and collections, by reviewing data to identify trends, areas for improvement, and implementing strategies to maximize revenue while ensuring compliance with regulations, ultimately improving the overall revenue operations experience.
Essential Duties and Responsibilities:
- Work closely with Revenue Cycle Leadership, Revenue Cycle Business Analysts, and Revenue Cycle Financial Analysts to support the full RCM lifecycle including the following:
- Conduct root cause analysis and investigate recurring issues on claim denials, delayed or incorrect payments, and propose corrective actions
- Analyze and improve revenue cycle processes through workflow evaluation and efficiency improvement recommendations
- Support strategic initiatives through collaboration and alignment of organizational goals, cost reduction, and revenue enhancement
- Lead strategic, long-term projects and support solution development
- Ensure adherence to healthcare regulations and coding guidelines, including HIPAA and ICD-10 coding standards
- Develop and implement strategies to address identified issues, including workflow changes, training programs, and system updates to enhance revenue cycle efficiency
- Provide other Revenue Cycle Analysts and Specialists one-on-one training/cross training for reviewing and interpreting medical records and internal documentation to enhance appeal strategies
- Make informed decisions based on knowledge of Payer policy and knowledge, state and federal guidelines and thorough review of internal documents including the translation of testing protocols and billing and how that impacts the adjudication of a claim to achieve a positive outcome
- Payer Relations
- Collaborate with payers, managed care, clinical and legal to resolve outstanding claims and address billing issues
- Reporting
- Analyze large volumes of revenue cycle data, including patient demographics, insurance verification, claim submissions, denial trends, and payment history to identify patterns and areas for improvement
- Develop and maintain key performance indicators (KPIs) like days sales outstanding (DSO), denial rates, clean claim submission rates, and collection efficiency to track revenue cycle performance
- Analyze and synthesize complex information to identify key issues, develop clear summaries, and define actionable next steps; collaborate across teams to ensure alignment, drive resolution, and maintain momentum on strategic initiatives
Successful Candidates Must Possess:
- High school diploma or GED required; Degree in Business, Finance or related discipline preferred
- With a high school diploma, a minimum of eight (8) years of experience in denials management and other areas of Healthcare Revenue Cycle Functions required; with a Bachelor’s degree, a minimum of six (6) years of experience in denials management and other areas of Healthcare Revenue Cycle Functions required; with a Master’s degree, a minimum of four (4) years of experience in years of experience in denials management and other areas of Healthcare Revenue Cycle Functions required
- Experience using reporting tools and advanced excel skills required
- Knowledge of insurance including Medicare, Medicaid, Blue Cross Blue Shield and Third-Party Payers required
- Ability to utilize critical thinking skills while performing reimbursement/denial analysis
Aegis Sciences Corporation is an Equal Opportunity Employer
