The average pay for a Revenue Cycle Specialist with Electronic Medical Records (EMR) skills is $15.05 per hour.
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 2018 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.