Revenue Cycle Specialist Salary
|Salary||$32,589 - $63,649|
|Bonus||$388 - $8,170|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$28,995 - $52,853|
|Hourly Rate||$13.72 - $23.08|
|Overtime||$11.42 - $33.22|
|Bonus||$388 - $8,170|
|Total Pay (||$28,995 - $52,853|
Job Description for Revenue Cycle Specialist
Revenue cycle specialists work primarily in health-related fields to ensure financial success for hospitals and other health care facilities. This position requires in-depth knowledge of billing, invoicing, arranging payment methods, overseeing collections, accounts receivable, and proper financial statements.Read More...
Revenue cycle specialists typically work in an office filling out paperwork and calculating health care payments to maintain the finances of their facilities, and they must use a variety of computer programs and tools to create spreadsheets and billing statements. They may work with a variety of co-workers, including accountants, financial analysts, and human resources (HR) professionals to oversee each financial decision made by the facility. Revenue cycle specialists must oversee each and every piece of paperwork regarding the facility's billing, insurance, and other financial matters, as failure in these areas can result in the company being audited or even closed.
Aspiring revenue cycle specialists should have an extensive background in accounting, business, finance, and related fields, and a bachelor's degree and/or several years of experience in the field are generally required for this position. (Copyright 2017 PayScale.com)
Revenue Cycle Specialist Tasks
- Responsible for operations of patient business services, insurance verification, and workers compensation authorizations.
- Coordinate activities of staff responsible for charge capture, coding, charge entry, insurance follow up, reimbursement analysis, or other financial functions.
- Identify revenue cycle problems and implement solutions for improvement.
Revenue Cycle Specialist Job Listings
Popular Skills for Revenue Cycle Specialist
Revenue Cycle Specialists report using a wide range of professional skills. Most notably, skills in Accounts Receivable, Insurance, Billing, and Medical Coding are correlated to pay that is above average. Those listing Microsoft Office as a skill should be prepared for drastically lower pay. Electronic Medical Records and Medicaid Billing also typically command lower compensation. The majority of those who know Billing also know Accounts Receivable.
Pay by Experience Level for Revenue Cycle Specialist
Pay by Experience for a Revenue Cycle Specialist has a positive trend. An entry-level Revenue Cycle Specialist with less than 5 years of experience can expect to earn an average total compensation of $33,000 based on 114 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Revenue Cycle Specialist with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $40,000 based on 62 salaries. An experienced Revenue Cycle Specialist which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $41,000 based on 73 salaries. A Revenue Cycle Specialist with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $39,000 based on 14 salaries.
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Key Stats for Revenue Cycle Specialist
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