Job Description

A Hospital Accounts Manager plays a crucial role in managing the financial health of a hospital. Their Key Responsibility Areas (KRA) include: 1. Financial Management Oversee hospital accounts, budgets, and financial planning. Ensure timely collection of payments from patients, insurance companies, and corporate clients. Manage hospital expenses, including salaries, procurement, and operational costs. Ensure compliance with taxation and other financial regulations. 2. Billing & Revenue Cycle Management (RCM) Supervise patient billing, ensuring accuracy in charges for treatments, surgeries, and services. Handle insurance claims processing and liaise with insurance providers for approvals and reimbursements. Implement measures to reduce billing errors and revenue leakages. 3. Compliance & Auditing Ensure adherence to hospital financial policies and legal requirements. Prepare financial reports and statements for audits. Implement internal controls to prevent fraud and financial mismanagement. 4. Accounts Payable & Receivable Monitor and manage hospital vendor payments and supplier invoices. Follow up on outstanding payments from patients and third-party payers. Reconcile accounts regularly to maintain accurate financial records. 5. Budgeting & Cost Control Develop and manage hospital budgets to ensure profitability. Monitor expenses and suggest cost-cutting measures without compromising service quality. Track financial performance and provide insights for decision-making. 6. Financial Reporting & MIS Generate financial reports, including balance sheets, profit & loss statements, and cash flow statements. Provide management with insights on revenue trends and financial risks. Ensure timely submission of financial reports to stakeholders. 7. Team Management & Coordination Lead and supervise the accounts team, ensuring efficiency in daily financial operations. Train staff on hospital accounting policies and procedures. Coordinate with other departments, including administration, procurement, and patient services, for financial matters.