Business Manager, Medical Office Salary
Job Description for Business Manager, Medical Office
Business managers, medical office, are responsible for managing the daily operations of a medical office. They oversee administrative staff. They must assist doctors and/or register nurses in administrative matters.Read More...
Depending on the type and size of their medical office, they may have to act as liaisons between their medical office and their organization’s corporate officer. They may have to talk to patients regarding fees related to medical procedures. They may have to work with patients regarding payment plans. They must make sure that patients’ appointments are scheduled efficiently. They are responsible for adequate inventory of supplies that are needed for their office.
In order to get reimbursement from insurance companies or third-party payers, employers prefer that business managers have thorough knowledge of medical codes. They often follow up with insurance companies or patients related to pending payments. Business managers must review accounts receivable reports. They are involved with establishing operations and staffing budgets. Office managers must have computer skills and be proficient with Microsoft Office. They must be able to work in a team environment. They must have interpersonal skills. They must have excellent oral and written communication skills. They have to work effectively with doctors, staff, patients, vendors and the public. They may be required to attend classes, workshops, or conferences relevant to their field. They are usually required to have management experience and at least a bachelor’s degree in business management or a related field.
Business Manager, Medical Office Tasks
- Maintain patient accounts, billing and receivables, census information, and invoicing.
- Manage the selection, training, and development of business office staff.
- Manage fiscal operations, including accounting, budgeting, and financial reporting.
- Ensure services are in compliance with professional standards, state, and federal regulatory requirements.
- Oversee and evaluate work activities of business office staff.
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Popular Skills for Business Manager, Medical Office
Medical Office Business Managers seem to require a number of specific skills. Most notably, facility with Medical Coding, Accounts Receivable, and Microsoft Office are correlated to pay that is significantly above average, leading to increases of 33 percent, 18 percent, and 5 percent, respectively. Skills that pay less than market rate include Accounting. Those educated in Microsoft Office tend to be well versed in Microsoft Excel and Human Resources.
Pay by Experience Level for Business Manager, Medical Office
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Salaries for the relatively untried average out to around $47K, but survey participants with five to 10 years of experience earn a significantly higher median of $53K. Medical Office Business Managers with one to two decades of relevant experience report an average salary of approximately $57K. Survey participants with more than twenty years of experience only make around $53K on average, though; this group reports a lower median than the one claimed by mid-career individuals.
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Key Stats for Business Manager, Medical Office
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