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Revenue Cycle Specialist

What Is a Revenue Cycle Specialist and How to Become One

By ZipRecruiter Marketplace Research Team
Revenue Cycle Specialist

Table of Contents

What Is a Revenue Cycle Specialist?

A revenue cycle specialist oversees crucial financial tasks, specifically payment and collections, within a healthcare organization such as a hospital or clinic. As a revenue cycle specialist, your job duties include billing patients for administered care, handling incoming payments, calculating patient intake costs, and tracking accounts receivable to ensure accuracy. You also work with patients to arrange special payment options when necessary. A certified revenue cycle specialist (CRCS) has passed an exam administered by the American Association of Health Care Administrative Management (AAHAM). Typically, entry-level revenue cycle specialists with experience working at a health facility have the skills and qualifications required to take this exam.

How to Become a Revenue Cycle Specialist

There are no formal education qualifications you need to begin a career as a revenue cycle specialist. Instead, companies hiring for this job look for candidates with relevant work experience and a high school diploma or GED certificate, although some prefer you to have an associate degree or technical training in medical billing or a similar area of study. As a revenue cycle specialist, you need outstanding financial management and mathematical skills and a high level of understanding of insurance regulations and claims processing. You also need organizational and time management skills, a collaborative attitude, and excellent attention to detail.

What is the average salary for a Revenue Cycle Specialist?

The salary for a Revenue Cycle Specialist can vary depending on factors such as experience, location, and the size of the healthcare facility or organization. On average, the annual salary can range from $40,000 to $60,000.

What are the career growth opportunities for a Revenue Cycle Specialist?

Revenue Cycle Specialists can find opportunities for career growth within the healthcare industry. With experience and continuous learning, individuals can move up to roles such as Revenue Cycle Manager, Billing Manager, or even transition into consultancy or teaching positions.

Are there any additional certifications that can enhance job prospects?

While not mandatory, obtaining certifications such as Certified Revenue Cycle Specialist (CRCS) or Certified Professional Biller (CPB) can greatly enhance job prospects and demonstrate a higher level of competence in this field. These certifications can be obtained through reputable organizations like the American Association of Healthcare Administrative Management (AAHAM) or the American Academy of Professional Coders (AAPC).

Revenue Cycle Specialist Job Description Sample

With this Revenue Cycle Specialist job description sample, you can get a good idea of what employers are looking for when hiring for this position. Remember, every employer is different and each will have unique qualifications when they hire for a Revenue Cycle Specialist role.

Job Summary

We are searching for a Revenue Cycle Specialist to handle medical billing and collections for our clinic. In this position, you will accept payments from insurance companies, handle denials and appeals, and send bills to patients. Our ideal applicant has experience in accounts receivable, preferably in a medical environment. You also need to be familiar with the insurance industry, especially with how to file medical claims with Medicare and Medicaid. You must also be well versed in CPT medical codes.

Duties and Responsibilities

  • Submit claims to insurance companies
  • Handle denials and the appeals process
  • Send bills to patients
  • Track incoming revenue
  • Calculate the total cost of intake and administered care

Requirements and Qualifications

  • High school diploma or GED certificate
  • Certified revenue cycle specialist (CRCS) credential (preferred)
  • Collections or accounts receivable experience
  • Familiarity with the insurance industry
  • Familiarity with CPT medical codes

Revenue Cycle Specialist Job Description Sample

With this Revenue Cycle Specialist job description sample, you can get a good idea of what employers are looking for when hiring for this position. Remember, every employer is different and each will have unique qualifications when they hire for a Revenue Cycle Specialist role.

Job Summary

We are searching for a Revenue Cycle Specialist to handle medical billing and collections for our clinic. In this position, you will accept payments from insurance companies, handle denials and appeals, and send bills to patients. Our ideal applicant has experience in accounts receivable, preferably in a medical environment. You also need to be familiar with the insurance industry, especially with how to file medical claims with Medicare and Medicaid. You must also be well versed in CPT medical codes.

Duties and Responsibilities

  • Submit claims to insurance companies
  • Handle denials and the appeals process
  • Send bills to patients
  • Track incoming revenue
  • Calculate the total cost of intake and administered care

Requirements and Qualifications

  • High school diploma or GED certificate
  • Certified revenue cycle specialist (CRCS) credential (preferred)
  • Collections or accounts receivable experience
  • Familiarity with the insurance industry
  • Familiarity with CPT medical codes

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