A revenue analyst’s primary function is to increase their company’s profits by monitoring and analyzing revenue. They track expenditures and revenue - comparing those figures to prior financial periods - as well as track relevant economic trends. Revenue analysts help develop revenue-building strategies, presenting those ideas to managers; they present financial data to those supervisors as well. Individuals in this position must conduct internal audits regularly, as well as assist outside auditors by providing them with any requested financial records. Revenue analysts must also ensure the company is fully compliant with Sarbanes-Oxley regulations at all times. They must also attend meetings to share information, collect data, and answer questions. Revenue specialists generally work during regular business hours in an office environment. Overtime may be required as deadlines or other business needs require.
A bachelor's degree in accounting, economics, or a related field is generally the minimum educational requirement for this position. Previous experience in a related field is needed as well. An individual in this position must be extremely organized, pay close attention to detail, and be able to develop revenue-building strategies. Strong interpersonal communication skills are essential, since an individual in this position must frequently communicate with various departments within their organizations.
Revenue Analyst Tasks
Identify revenue cycle problems and implement solutions for improvement.
Coordinate activities of staff responsible for charge capture, coding, charge entry, insurance follow up, reimbursement analysis, or other financial functions.
Responsible for operations of patient business services, insurance verification, and workers compensation authorizations.