Business Analyst

University of Chicago Physician's Group is seeking a highly motivated and detail-oriented Healthcare Business Analyst to join our team. This role will be instrumental in optimizing revenue cycle management processes, identifying denial trends, and supporting clinical departments with actionable insights. The ideal candidate will have strong analytical skills, attention to detail, a passion for improving operational efficiency in healthcare, and the ability to collaborate effectively with cross-functional teams.

Responsibilities

• Proactive Denial Review: Analyze denial trends and root causes to identify areas for improvement and develop proactive strategies to prevent future denials.
• Analyze denial trends and overturn rates to develop strategies for minimizing denials and maximizing reimbursement.
• Stay informed about new payer denial trends and escalate significant changes to leadership.
• Support Management and Clinical Meetings: Pull detailed information on denial trends to be validated by Accounts Receivable (AR) management.
• Present findings on denial trends and recovery options at management and clinical department meetings.
• Collaborate with AR management and clinical departments to develop action plans based on identified trends.
• Utilization of BI Dashboards: Utilize Business Intelligence (BI) dashboards to identify denials or AR process opportunities requiring additional analysis.
• Generate reports and data visualizations to communicate key findings to stakeholders.
• Develop and maintain denial management metrics and reports to track denial trends, resolution rates, and revenue recovery efforts.
• Support Data Requests: Respond to data requests from all University of Chicago Physician's Group areas and clinical departments.
• Provide accurate and timely data analysis to support decision-making and process improvement initiatives.
• Review Payer Policy Updates: Review payer policy updates every month and assess potential impacts on revenue cycle processes.
• Identify changes with high-level impacts and escalate them to leadership for further review and action.
• Review High-Dollar Write-Offs: Review high-dollar write-offs performed by the AR team and identify areas for improvement.
• Escalate significant findings to leadership and collaborate on strategies to minimize write-offs.
• Analyze Accounts Receivable (AR): Analyze AR data to identify payer-specific trends, write-offs, and process improvement opportunities across all financial classes, including Self-Pay.
• Develop recommendations for optimizing revenue cycle processes and maximizing collections.
• Collaboration on System Updates: Work collaboratively with the manager and IT team to make updates to the EPIC system to facilitate improved Revenue Cycle Processes.
• Provide input and feedback on system enhancements to support operational efficiency and accuracy.
• Prioritizes chart documentation and maintaining requirements within the department.
• Ensures all processes involved in accurately posting professional fees.
• Participates and may lead in training sessions, performing audits, and promoting an understanding of procedures, policies, and expectations in promotion of compliance efforts.
• Performs other related work as needed.

Minimum Qualifications

• Education: Bachelor's degree in a related field, or an equivalent combination of education and relevant experience.
• Work Experience: 2-5 years of work experience in a related job discipline.

Preferred Qualifications

• Education: Bachelor's degree in Healthcare Administration, Business Administration, Finance, or related field strongly preferred.
• Experience: Minimum of 3 years of experience in healthcare revenue cycle management, billing, or financial analysis strongly preferred.
• Experience with EPIC or other Electronic Health Record (EHR) systems is strongly preferred.

Preferred Competencies

• Strong analytical skills with proficiency in data analysis tools and BI dashboards.
• Excellent communication and presentation skills, with the ability to effectively communicate complex information to diverse stakeholders.
• Detail-oriented with a focus on accuracy and continuous improvement.
• Ability to work independently and collaboratively in a fast-paced environment.
• Knowledge of healthcare payer policies, regulations, and reimbursement methodologies.