Account Control Officer

<h3>Job Description</h3><p></p><p><strong>Overview:</strong><br>The Income Manager/ACO is responsible for overseeing the accuracy and efficiency of the billing department while ensuring compliance with insurance regulations and policies. This role involves managing a team, setting production and collection targets, monitoring financial performance, and ensuring timely billing and collections for services rendered. The Income Manager/ACO will contribute to company-wide financial goals by ensuring effective billing procedures and collection practices.</p><p><strong>Key Responsibilities:</strong></p><ul> <li> <strong>Team Management:</strong><br>Oversee and manage the Insurance Verification Officer, Billing Officer, and EOB Officer to ensure accuracy, efficiency, and compliance with company standards.</li> <li> <strong>Regulatory Compliance:</strong><br>Stay up-to-date on insurance regulation changes and ensure the team is educated on these updates.</li> <li> <strong>Monitoring Financial Targets:</strong><br>Track weekly production and collections, including billing out the door and estimated collection targets.</li> <li> <strong>Investigate Insurance Trends:</strong><br>Analyze and address any downturns or trends with specific insurance carriers.</li> <li> <strong>Write-Off Reviews:</strong><br>Review all write-off requests to ensure all collection efforts have been exhausted before approving.</li> <li> <strong>Setting Targets:</strong><br>Establish weekly production and collection targets to ensure the company’s yearly financial goals are met.</li> <li> <strong>Over-the-Counter Collections:</strong><br>Enforce policies for over-the-counter collections to minimize the need for post-discharge collection procedures.</li> <li> <strong>Weekly Department Review:</strong><br>Analyze weekly statistics from the billing department and provide guidance to junior staff, creating a battle plan for the team each week.</li> <li> <strong>Aged Accounts Management:</strong><br>Monitor the A/R report and work with aged accounts over 45 days old to ensure no more than 15% of total outstanding GI is over 90 days old.</li> <li> <strong>Litigation &amp; Special Cases:</strong><br>Ensure that all litigation cases, workers’ comp cases, and private pay clients understand their legal responsibilities and the company’s collection policy procedures.</li> <li> <strong>Timely Billing:</strong><br>Ensure that all billing, both for insurance companies and patients, is completed promptly and follows a regimented program of letters, emails, and phone calls for collection.</li> <li> <strong>Reporting:</strong><br>Submit monthly reports to the CEO/Owner, highlighting trends and insights to be discussed at the end of each month.</li> <li> <strong>Collaboration:</strong><br>Actively participate in meetings and collaborate with other departments, including the front desk, to maximize over-the-counter collections from all patients.</li> <li> <strong>End-of-Month Reporting:</strong><br>Participate in the end-of-month meeting with the CEO/Owner and MSO Regional Managers (if applicable) to report on billing stats and financial performance.</li> </ul><p><strong>Key Metrics and Goals:</strong></p><ul> <li><strong>Collections Performance:</strong></li> <ul> <li>Ratio of cash collections to billed amounts.</li> <li>Percentage of payroll as a portion of gross income (GI).</li> </ul> <li><strong>Calls and Billing Efforts:</strong></li> <ul> <li>Number of collection calls made to patients per week.</li> <li>Number of collection calls and correction calls made to insurance carriers.</li> <li>Number of claims re-billed and total amount re-billed.</li> <li>Amount collected via online payment platforms (website).</li> <li>Amount collected from patients via email statements.</li> </ul> <li><strong>Production Metrics:</strong></li> <ul><li>Weekly production billed out.</li></ul> </ul><p></p><p></p><h3>Technical Requirements</h3><p></p><p><strong>Qualifications and Skills:</strong></p><ul> <li>Proven experience in account management, billing, or financial control within a healthcare or insurance-related environment.</li> <li>Strong leadership skills with the ability to manage and mentor a team.</li> <li>In-depth knowledge of insurance verification, billing, and collection processes.</li> <li>Excellent organizational and time-management skills.</li> <li>Ability to analyze financial reports and identify trends.</li> <li>Strong communication skills to effectively collaborate with internal teams and external clients.</li> <li>Attention to detail and a proactive approach to resolving billing issues and minimizing outstanding balances.</li> </ul><p><strong>Required Experience:</strong></p><ul> <li>Previous experience in a billing, collections, or account control role.</li> <li>Experience with insurance verification, billing software, and financial tracking tools.</li> <li>Understanding of medical billing regulations and insurance policies.</li> <li>Experience in setting and achieving financial targets and goals.</li> </ul>