Income Manager / Account Control Officer (ACO)

Job Description

Overview :

The Income Manager / ACO is responsible for overseeing the accuracy and efficiency of the billing department while ensuring compliance with insurance regulations and policies. This role involves managing a team, setting production and collection targets, monitoring financial performance, and ensuring timely billing and collections for services rendered. The Income Manager / ACO will contribute to company-wide financial goals by ensuring effective billing procedures and collection practices.

Key Responsibilities :

• Team Management :

Oversee and manage the Insurance Verification Officer, Billing Officer, and EOB Officer to ensure accuracy, efficiency, and compliance with company standards.

Stay up-to-date on insurance regulation changes and ensure the team is educated on these updates.

Track weekly production and collections, including billing out the door and estimated collection targets.

Analyze and address any downturns or trends with specific insurance carriers.

Review all write-off requests to ensure all collection efforts have been exhausted before approving.

Establish weekly production and collection targets to ensure the company’s yearly financial goals are met.

Enforce policies for over-the-counter collections to minimize the need for post-discharge collection procedures.

Analyze weekly statistics from the billing department and provide guidance to junior staff, creating a battle plan for the team each week.

Monitor the A / R report and work with aged accounts over 45 days old to ensure no more than 15% of total outstanding GI is over 90 days old.

Ensure that all litigation cases, workers’ comp cases, and private pay clients understand their legal responsibilities and the company’s collection policy procedures.

Ensure that all billing, both for insurance companies and patients, is completed promptly and follows a regimented program of letters, emails, and phone calls for collection.

Submit monthly reports to the CEO / Owner, highlighting trends and insights to be discussed at the end of each month.

Actively participate in meetings and collaborate with other departments, including the front desk, to maximize over-the-counter collections from all patients.

Participate in the end-of-month meeting with the CEO / Owner and MSO Regional Managers (if applicable) to report on billing stats and financial performance.

Key Metrics and Goals :

Technical Requirements

Qualifications and Skills :

Required Experience :