Job Description

A Hospital Billing Executive is a specialized role in the healthcare industry, responsible for managing the billing and invoicing process related to patient services. Their primary objective is to ensure that patients, insurance companies, and other third-party payers are billed accurately and in a timely manner, while also complying with healthcare regulations. Below are the key responsibilities and tasks of a Hospital Billing Executive:

1. Patient Billing and Invoice Generation

• Create and issue bills for hospital services provided to patients, including consultation fees, treatments, procedures, medications, lab tests, and surgeries.
• Ensure that all required details are included in the bill, such as patient information, diagnosis codes (ICD codes), procedure codes (CPT codes), and charges for each service.
• Prepare itemized bills for patients, reflecting their specific services, and any co-pays, deductibles, or balances due.

2. Insurance Verification and Claims

• Verify patient insurance information and eligibility before services are rendered, ensuring that insurance details are accurate.
• Submit claims to insurance companies on behalf of the patients, ensuring proper coding and necessary documentation (e.g., medical records, test results).
• Follow up on unpaid or denied claims by working with insurance companies to resolve discrepancies or re-submit claims.

3. Payment Collection and Follow-Up

• Monitor and track payments from patients, insurance providers, and other third-party payers.
• Follow up with patients and insurance companies regarding overdue or unpaid bills.
• Coordinate with the accounts receivable team to ensure timely collection of payments and resolve payment issues.

4. Billing Adjustments and Discrepancy Resolution

• Address and resolve any discrepancies in billing, such as overcharges, incorrect insurance claims, or incorrect patient information.
• Process billing adjustments or corrections, ensuring that the necessary documentation is maintained.
• Work with the finance and insurance teams to resolve disputes related to denied claims or incorrect payments.

5. Patient Communication and Support

• Communicate with patients about their bills, answer their questions, and provide clear explanations regarding charges and payments.
• Discuss payment plans with patients for large medical bills or assist with financial assistance options if available.
• Ensure that patients understand their insurance coverage and out-of-pocket responsibilities.

6. Compliance with Healthcare Regulations

• Ensure that all billing practices comply with healthcare laws, regulations, and hospital policies, such as HIPAA (Health Insurance Portability and Accountability Act) for patient privacy.
• Stay up to date with changes in healthcare billing codes (such as ICD, CPT, HCPCS codes) and reimbursement policies.
• Adhere to insurance guidelines and government regulations like Medicare or Medicaid billing requirements.

7. Reconciliation and Reporting

• Reconcile billing accounts, ensuring that services rendered match the services billed.
• Assist with financial audits by providing necessary billing data and documentation.
• Prepare periodic reports on accounts receivable, outstanding payments, and other billing-related metrics for management.

8. Coordination with Other Hospital Departments

• Collaborate with the admissions, medical, and pharmacy departments to ensure accurate billing for services provided.
• Work with the coding team to ensure proper coding of diagnoses and procedures for insurance claims.
• Coordinate with the finance team to ensure accurate posting of payments and adjustments.

9. Electronic Health Records (EHR) and Billing Systems

• Use electronic health record (EHR) and hospital billing systems to input and track billing data.
• Ensure all records are updated and maintained accurately in the system, reflecting the correct services rendered and payments received.
• Troubleshoot and resolve any issues related to billing software.

10. Patient Financial Assistance

• Assist patients in understanding their financial obligations, including co-pays, deductibles, and balances.
• Guide patients on available financial assistance programs or payment plans for medical bills.

11. Documentation and Record-Keeping

• Maintain thorough and organized records of all billing transactions, communications, and patient interactions.
• Ensure that patient billing information is stored securely in compliance with healthcare privacy laws.

12. Customer Service

• Provide exceptional customer service to patients and their families by addressing concerns, providing information, and resolving billing-related issues.
• Handle patient complaints professionally and work to resolve any billing disputes efficiently.

Skills and Qualifications:

• Knowledge of Medical Coding : Proficient in ICD, CPT, and HCPCS codes to ensure accurate billing.
• Attention to Detail : Ability to identify errors or discrepancies in billing and claims.
• Communication Skills : Ability to explain complex billing information to patients and insurance companies clearly.
• Familiarity with Healthcare Insurance : Understanding of insurance policies, including Medicare, Medicaid, private insurers, and third-party payers.
• Computer Skills : Proficient in hospital billing software and EHR systems.
• Problem-Solving Skills : Ability to resolve billing disputes or payment issues efficiently.
• Regulatory Knowledge : Familiarity with HIPAA and other healthcare regulations related to billing and patient privacy.

Conclusion:

A Hospital Billing Executive is a vital member of the hospital's administrative and finance teams, responsible for ensuring that patients are accurately billed for services provided, and that the hospital receives proper reimbursement from insurance companies. They manage the entire billing lifecycle, from generating accurate invoices and submitting insurance claims to resolving discrepancies and following up on payments. They must also stay informed of changes in healthcare regulations to ensure compliance and efficiency.

Job Types: Full-time, Permanent, Fresher

Pay: ?8,000.00 - ?15,000.00 per month

Benefits:

• Health insurance

Schedule:

• Day shift
• Fixed shift
• Weekend availability

Supplemental Pay:

• Overtime pay
• Performance bonus
• Yearly bonus

Application Question(s):

• Are you ready to use the accomodation facility provided by management?

Experience:

• total work: 2 years (Preferred)

Work Location: In person

Expected Start Date: 01/02/2025