Royal National Orthopaedic Hospital NHS Trust

Private Care Revenue Analyst

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Job summary

An exciting opportunity has arisen to join the Private Care Division as a Revenue Analyst.

Private Care at RNOH offers complex and routine orthopaedic surgery to patients from across the world. As the number one specialist orthopaedic hospital in the UK, and number nine globally, we work with the top orthopaedic surgeons and attract the highest calibre of staff.

Working from our new, state-of-the-art building in Stanmore, the successful candidate will be responsible for the protection of Private Care's revenue through facilitating the function of Private Care's outsourced billing operations, and ensuring that internal controls and systems are in place to facilitate revenue capture and assurance.

This is a full-time role (37.5 hours) and would suit a Part or fully qualified CCAB accountant.

Main duties of the job

The Revenue Analyst will be responsible for the planning, supervisory oversight and management of all facets of the billing department within the Private Care Unit. The successful candidate will prepare and present management information on a broad range of financial and administrative issues. Works cooperatively with other managers and administration to ensure timely billing, reporting and patient account management.

The successful candidate will have proven competence in data analysis, forecasting, budget management, and revenue management. They will have strong analytical skills and commercial acumen, with demonstrable ability to identify and scope opportunities for business growth and performance enhancement.

Project management skills and problem-solving skills are essential, as well as competent use of Microsoft Excel in order to present data accurately and concisely, and the ability to form conclusions to support-decision making.

The Key focus of the role is revenue management and managing the outsourced billing provider.

About us

Private Care at RNOH sits on the 4thfloor of the modern Stanmore Building. We have dedicated private patient facilities, including en-suite bedrooms, hotel services, nursing and therapies.

We work within a commercially minded, private healthcare environment and strive to deliver an exceptional customer experience.

All profits generated from Private Care are reinvested back into the Trust to support the provision of its services.

It is a very exciting time to join our team. We are committed to and focused upon rapid growth of the business, which presents a rewarding opportunity to transform our ways of working to become a market leader.

Date posted

10 October 2024

Pay scheme

Agenda for change

Band

Band 7

Salary

£51,883 to £58,544 a year per annum inclusive HCAs

Contract

Permanent

Working pattern

Full-time

Reference number

392-RNOH-1015

Job locations

Royal National Orthopaedic Hospital

Stanmore

HA7 4LP

Job description

Job responsibilities

Financial

Responsible for supervisory oversight and management of all facets of the billing department including invoice processing, revenue monitoring and quality improvement initiatives.

Manage the detailed daily activities of the inpatient and outpatient invoicing including supervising and executing daily invoicing processes.

Complete appropriate sample audits of billing to margin analysis to ensure profitability of services provided

Monitor and report on the performance of the Division against the targets on a monthly basis, ensuring that transactions are properly allocated, and plans remain reflective of the operational function of the business.

Work closely with our outsourced Billing Partner to ensure that Private Cares billing functions are efficient, accurate and effective.

Support billing audits and examinations. Create and monitor unbilled monthly reports and resolve billing delays.

Use commercial analysis to advise the Management team on the strategic direction of Private Care.

Proactively monitor the market to ensure that our pricing strategy delivers maximum value for the business, whilst simultaneously ensuring that we remain competitively priced.

Support the development of self-pay package prices for simple procedures and a mechanism to ensure that price estimates for more complex procedures are highly accurate.

Manage the process of payment allocation including supervising the daily and monthly allocation of payments and end of day reports.

Operational

Develop and implement a programme of transformation within the Private Care billing department to ensure it is high-functioning, efficient and meets the needs of its service users.

Develop and maintain invoicing policies and procedures, in compliance with relevant regulations and legislation ensuring robust monitoring of compliance is in place, addressing non-compliance in line with Trust policies.

Lead monthly meetings with insurance providers and embassies to discuss billing issues, including aged debt, shortfalls, recoups and payment disputes.

Resolve escalated queries that can be challenging and complex and require liaising with a number of different teams, such as Practice Management and Credit Control

Support contractual negotiations with insurance companies, embassies, and other providers as part of yearly pricing review.

Manage the billing and credit control function to ensure it is efficient and continuously improved to maximise revenue capture and generate income without delay.

Create a process to ensure that Consultants are paid for the work that they undertake in a timely and transparent manner and manage the relevant payment runs.

Ensure that all Consultant payments are properly compliant with CMA regulations and that there are clear contractual terms in place to govern them.

Leadership

To manage and be accountable for the proactive management of relationships with sponsors of Private Care and its suppliers.

To be the Superuser on Compucare (IT system) for all staff including, setting up appropriate access and taking the lead on liaising with the Compucare support team to escalate ongoing issues and monitor responses.

Support on contract negotiations with sponsors of Private Care to secure profitable pricing, ensure that financial uplifts are implemented in a timely manner and to manage the relationship in-year.

Communication

Utilise a variety of strategies to communicate effectively and deal with complex financial enquiries and queries from key stakeholders, including Consultants, their private medical secretaries, prospective patients, embassies, referrers and other third-party sponsors, delivering a high standard of customer service at all times.

Clearly communicate changes in process and policies to key stakeholders and keep them abreast of any relevant developments and changes within the finance function.

Utilise the skills, experience and information gathered through undertaking the role to continuously improve finance processes and function, so that it is more effective for all stakeholders.

Be aware of and sensitive to other cultures and religions whilst dealing with private patients, ensuring vulnerable groups are not discriminated against.

People Management

The post-holder is directly responsible for the management and operations of Private Cares outsourced billing function and to ensure that these teams have the appropriate skills, guidance and expertise to deliver a high-quality service to the business and its stakeholders.

Provide support, guidance and development opportunities for staff, with clear and consistent feedback.

Ensure that all staff have annual appraisals, meet mandatory training requirements, have structured performance reviews and that clear performance-related objectives are set.

Address any performance or HR issues, taking appropriate action as necessary.

Participate in the recruitment and training of new staff, as required.