CARE Hospitals, Quality CARE India Limited | Corporate Insurance Head | hyderabad
2 weeks ago
Job Summary:
As the Insurance Vertical Head in the hospital industry, candidate will be responsible for overseeing and managing the hospital's Insurance Revenue & Volumes for all CARE Hospitals Units. His role will involve coordinating with insurance companies, managing relationships with third-party administrators, and ensuring the increase in Revenues with your contacts & relationships for medical services provided by the hospital. He will also be responsible for leading a team of professionals and implementing strategies to optimize Insurance Growth in a matrix organization.
Responsibilities:
1. Insurance Growth Management:
- Develop and implement effective strategies for managing TPA operations in line with the hospital's goals and objectives.
- Ensure timely and accurate Growth strategies for wider reach and activities.
- Oversee the TPA team and ensure adherence to quality standards, compliance regulations, and industry best practices.
- Monitor key performance indicators (KPIs) related to claims processing, turnaround time, accuracy, and customer satisfaction.
- Identify areas for process improvement, implement necessary changes, and monitor their effectiveness.
- Find suitable opportunities to engage with Ins/TPA, Insurance agents / facilitators through various activities to grow the business
2. Relationship Management:
- Establish and maintain strong relationships with insurance companies, third-party administrators, and other stakeholders.
- Collaborate with insurance providers to negotiate contracts, terms, and pricing agreements.
- Resolve issues, disputes, and conflicts related to claims processing, billing, and reimbursement.
- Conduct regular meetings and performance reviews with TPAs to evaluate their performance, address concerns, and identify areas for improvement.
- Co-ordinate with all Units of Care and Ins/Corporate team, understand the challenges and resolve with timely intervention
3. Team Leadership and Development:
- Build and lead a high-performing team of TPA professionals, providing guidance, support, and mentorship.
- Define team goals, objectives, and performance expectations aligned with the hospital's overall strategy.
- Conduct regular training and development programs to enhance the team's knowledge and skills.
- Foster a positive work environment that encourages collaboration, innovation, and continuous learning.
4. Financial Analysis and Reporting:
- Analyze financial data related to Insurance Growth.
- Prepare monthly reports, forecasts, and budgets to monitor the financial performance of Insurance/TPA and team members (unit wise)
- Identify cost-saving opportunities and implement strategies to optimize expenses without compromising quality or compliance.
- Maintain trackers to ensure monitoring of renewals / expiry and timely negotiating for revision of rates
5. Compliance and Regulatory Requirements:
- Ensure compliance with applicable laws, regulations, and industry standards related to claims processing, privacy, and data security.
- Stay updated with changes in healthcare regulations and insurance policies affecting TPA operations.
- Implement processes and controls to maintain data accuracy, confidentiality, and integrity.
Requirements:
- Bachelor's degree in healthcare administration, business management, or a related field (Master's degree preferred).
-12+ years of proven experience in similar TPA leadership role within the hospital industry at Corporate/India level.
- In-depth knowledge of healthcare insurance, claims processing, and reimbursement practices. Established relationship with partners and stakeholders in the industry
- Familiarity with relevant laws, regulations, and industry standards.
- Strong leadership and team management skills with the ability to inspire and motivate a team.
- Excellent communication, NEGOTIATION, and interpersonal skills to build and maintain relationships with stakeholders.
- Analytical mindset with the ability to analyze financial data, identify trends, and make data-driven decisions.
-Can drive and contribute individually within a matrix organization , go getter and high on execution
- Proficiency in using healthcare software systems, electronic medical records (EMRs), and claims processing platforms.
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