Key Account Billing Specialist - Healthcare

Labcorp•Charlotte, TN

4d•$75,000 - $90,000•Remote

About The Position

Labcorp is seeking a remote Key Account Billing Specialist to join our Atlantic Division! This role oversees the billing management for the Division’s largest clients and partners directly with their leadership. This role acts to address clients with large outstanding receivables, high levels of bad debt, or elevated revenue write-offs and implement action plans for improvement. The Key Account Billing Specialist will oversee billing business reviews, manage the collection of outstanding client debt, resolve client discrepancies, and drive overall improvement in obtaining appropriate 3rd party billing information, medical necessity, ABNs, and other relevant information necessary to reduce overall bad debt. Responsibilities include ensuring timely delivery of invoices, maintaining data integrity, and suggesting process improvements to clients in partnership with sales managers and VP/GMs. Additionally, the role may conduct audits, lead billing and A/R initiatives, and provide training on billing functions to our largest accounts. This is a remote-based role with the candidate residing within the Atlantic division. The Atlantic Division includes Maryland, Virginia, North Carolina, South Carolina, Northern Georgia, and Eastern, Tennessee.

Requirements

5 or more years’ experience working in a business-to-business credit and accounts receivable function.
Exceptional Microsoft Excel skills required
Strong knowledge and demonstrated relevant billing experience in the medical diagnostic laboratory industry
Knowledgeable in all aspects of Revenue Cycle Management (Billing) and Accounts Receivable processes
Experience working with and understanding of EMRs
Demonstrated experience in collaborating across diverse teams at various organization levels
Strong written and verbal communication skills
Able to discuss root cause analysis and provide possible resolution for issues
Strong organization, follow-up, and time management skills
Handles highly confidential information with professionalism
Thrives in fast-paced environments with the ability to manage multiple high-impact initiatives simultaneously
Builds and maintains strong partnerships, facilitating strategic collaboration with C-Suite executives
Innovates and implements strategic initiatives independently, with minimal direction from management
Ability to effectively communicate with colleagues and clients across diverse geographic locations through virtual communication means

Nice To Haves

Bachelor’s degree in business, accounting or finance.
2 or more years’ experience working in the healthcare industry.

Responsibilities

Responsible for the development of strategies aimed at reducing Addressable bad debt, including benchmarking
Partner with internal and external stakeholders to implement process improvements to address clients with high bad debt or revenue write off experience by interfacing with sales and operations to create and implement action plans for improvement.
Direct interfacing with the client and/or Sales to address outstanding, past due client balances and obtain billing information for items moved to third parties
Coordinate and work with Corporate Billing on customer facing initiatives with the goal of communicating and assisting with the adoption of technology and tools developed to improve the account performance with regards to defects.
Provide billing training to phlebotomists, Sales, and clients to ensure correct billing and prompt payment. Training to include reviewing client billing invoices, obtaining appropriate 3rd party billing information, eClaim Assist, ABNs, RPI and Medical Necessity
Work with clients and divisional employees to resolve billing issues to increase cash and reduce bad debt. From findings, drive corrective action plans and monitor improvements.
Work with RPI to analyze the accounts with high volume specimen information requests who are not responding as needed and work with Sales to educate client.
Conducts comprehensive client audits to assess denials to drive reduction of addressable bad debt and improve the overall financial performance of the division
Develops comprehensive training and serves as the Subject Matter Expert on billing management to ensure alignment with billing requirements.
Engages and provides leadership for monthly sales meetings to review overall billing performance for the regions
Conduct comprehensive billing business reviews
Act as liaison between Division and Revenue Cycle Management
Provide spreadsheets and payer information to Sales to assist with collections billing information and updating clients on payer policies
Analyzes third party billing procedures, policies and results
Identifies and evaluates developments that may impact LabCorp’s business
Assist in determining best options to reduce Addressable Bad Debt by reviewing key indicators
Assist in determining best options to improve Revenue by reviewing key indicators
Analyzes client AR for delinquency
Discuss cause of delinquency with Sales and work through issues to resolve outstanding balances
Complete special projects as required, collaborating with cross-functional teams to ensure strategic objectives are met and delivering on expected outcomes.
Account Bad Debt Reduction: Determine root cause of bad debt, Formulate, provide and communicate a plan of action w/sales and other key stakeholders and track progress
Revenue Recapture - Monthly: Identify payer policy, diagnosis code limitation, or other limitation resulting in write off, Formulate, provide and communicate plan of action with KAE and regional leadership and track progress
Delinquent Client AR – XX% of assigned accounts monthly: Determine root cause of delinquency, Formulate, provide and communicate a plan of action to resolve delinquency with corporate and divisional partners and track progress, Escalate if remains unresolved within month
Client Adjustment Requests: Review adjustment request for accuracy and compliance, Return requests which are inaccurate or non-compliant, Send accurate/compliant requests to AR Director for approval, Re-educate clients and sales team on how to write up adjustment send third party transfers to client billing for processing and get approval for adjustment.
FQHC’s: Review and manage all indigent accounts with allocations, Work with RCM Divisional support to establish contacts at accounts for billing issues. Send transfers to client billing/SpecOps for processing, Educate clients on workflow issues that may arise
RPI Enrollment Tracking: Send emails to sales team requesting they reach out to clients to enroll in the RPI program. Track progress, monitor clients that opt out of Program. Work with RPI to analyze the accounts with high volume specimen information requests who are not responding as needed and work with Sales to educate client.