Revenue Cycle Business Analyst

The Revenue Cycle Business 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.

AR Management

Essential Duties & Responsibilities:

• Analyzing denied claims, identifying reasons for denials, and taking corrective actions to minimize future denials
• Review medical codes and billing information for accuracy and compliance with billing guidelines to minimize claim rejections and denials
• 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 Business 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 four (4) years of experience in denials management and other areas of Healthcare Revenue Cycle Functions required; with a Bachelor’s degree, a minimum of two (2) years of experience in denials management and other areas of Healthcare Revenue Cycle Functions required; with a Master’s degree, a minimum of one (1) year 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