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Billing Executive

2 weeks ago

Pune, Maharashtra, India Medtronic Full time US$ 80,000 - US$ 1,20,000 per year

At Medtronic you can begin a life-long career of exploration and innovation, while helping champion healthcare access and equity for all. You'll lead with purpose, breaking down barriers to innovation in a more connected, compassionate world.

A Day in the LifeMedtronic is expanding their footprint for Diabetes Care with a center in Pune and as a Billing Executive for Patient Financial Services, India, this role is responsible for ensuring the accuracy and completeness of billing and charges within the revenue cycle. This role involves reviewing, correcting, and processing billing errors, charge discrepancies, and claims denials within Patient Financial Services.

The Diabetes Operating Unit focuses on improving the lives of those within the global diabetes community. As a business, we strive to empower people with diabetes to live life on their terms by delivering innovation that truly matters and providing support in the ways they need it.

Our portfolio of innovative solutions is designed to provide customers greater freedom and better health, helping them achieve better glucose control, while spending less time managing their disease.

This position is an exciting opportunity to work with Medtronic's Diabetes business. Medtronic has announced its intention to separate the Diabetes division to promote future growth and innovation within the business and reallocate investments and resources across Medtronic, subject to applicable information and consultation requirements. This separation provides our team with a bold opportunity to unleash our potential, enabling us to operate with greater speed and agility. As a separate entity, we anticipate leveraging increased investments to drive meaningful innovation and enhance our impact on patient care.

Responsibilities may include the following and other duties may be assigned:

As a Billing Executive for Patient Financial Services, the role involves the specialist to work closely with various departments to ensure accurate coding, compliance with payer requirements, and maximization of reimbursement on Patient Financial Service accounts receivable metrics.

  • Review and analyze charge capture data for accuracy and completeness.

  • Identify and correct charge errors and discrepancies.

  • Collaborate with clinical and coding staff to resolve charge-related issues.

  • Monitor and review billing processes to ensure compliance with payer guidelines.

  • Identify billing errors and make necessary corrections to avoid claim denials.

  • Ensure timely and accurate submission of claims to payers.

  • Manage the resolution of denied claims by identifying root causes and correcting errors.

  • Resubmit corrected claims to payers for reimbursement.

  • Track and report on claim correction activities and outcomes.

  • Ensure all billing and charge correction activities comply with relevant laws, regulations, and internal policies.

  • Stay updated on changes in billing regulations and payer requirements.

  • Experience with various insurance plans offered by both government and commercial insurances (i.e., PPO, HMO, EPO, POS, Medicare, Medicaid, HRA's) and coordination of healthcare benefits, including requirements for referral, authorization, and pre-determination.

Required Knowledge and Experience:

  • Bachelor's degree in business or accounting major is preferred.

  • 1-2 years' experience in U.S Healthcare insurance collections, accounts receivable management, billing and claims processing, and insurance payor contracts.

  •  Advanced knowledge of insurance contracting, payor regulations, insurance benefits, coordination of benefits, managed care, and healthcare compliance, rules, and regulations.

  • Advanced experience with reading, and understanding medical policy information, and utilizing insurance benefit and coverage information to recovery denied claims.

  •  Advanced experience with various insurance plans offered by both government and commercial insurances.

  • Experience with medical billing and collections terminology – CPT, HCPCS, ICD-10 and NDC coding, HIPAA guidelines and healthcare compliance.

  • U.S Healthcare Experience is must.

Physical Job Requirements

The above statements are intended to describe the general nature and level of work being performed by employees assigned to this position, but they are not an exhaustive list of all the required responsibilities and skills of this position. 

Benefits & Compensation

Medtronic offers a competitive Salary and flexible Benefits Package
A commitment to our employees lives at the core of our values. We recognize their contributions. They share in the success they help to create.  We offer a wide range of benefits, resources, and competitive compensation plans designed to support you at every career and life stage.
 

This position is eligible for a short-term incentive called the Medtronic Incentive Plan (MIP).About Medtronic

We lead global healthcare technology and boldly attack the most challenging health problems facing humanity by searching out and finding solutions.
Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people. 
We are engineers at heart— putting ambitious ideas to work to generate real solutions for real people. From the R&D lab, to the factory floor, to the conference room, every one of us experiments, creates, builds, improves and solves. We have the talent, diverse perspectives, and guts to engineer the extraordinary.

Learn more about our business, mission, and our commitment to diversity here