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 report using a wide range of professional skills. Most notably, facility with Medical Coding, Accounts Receivable, and Microsoft Word are correlated to pay that is significantly above average, leading to increases of 20 percent, 14 percent, and 5 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Accounting. The majority of those who know Microsoft Office also know 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.
Respondents with less than five years' experience take home $48K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $55K. For Medical Office Business Managers, 10 to 20 years of experience on the job amounts to an average salary of $58K. Survey respondents who have worked for more than 20 years actually report somewhat lower incomes of $53K.
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Key Stats for Business Manager, Medical Office
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