Senior Accountant – Accounts Receivable job at Lifelink Medical Centre Limited

The Senior Accountant – Accounts Receivable is responsible for overseeing all aspects of accounts receivable operations within the hospital. This role involves managing patient and insurance billing processes, monitoring receivables, ensuring timely recognition of revenue and collection of payments, as well as providing financial analysis and reporting to support effective revenue cycle management. The Senior Accountant will play a critical role in optimizing revenue collection and maintaining the hospital’s financial health.

QUALIFICATIONS AND EXPERIENCE

Minimum of a Bachelor’s Degree in Business Administration, Accounting or Commerce from a recognized university and a fully qualified Chartered Accountant (CPA/ACCA/CFA).

Minimum of three years’ working experience as an accountant, preferably with a profit-making organization.

Must have scored at least Credit 6 in Mathematics and English at Ordinary Level (UCE).

Experience of working with a medical facility is an added advantage.

Mature individual with a proven track record of supervising staff.

Good knowledge of Excel and experience in the application of accounting standards in financial reporting.

CORE COMPETENCIES AND SKILLS

Professional Knowledge: Demonstrate professional skills and knowledge of accounting, and the ability to reconcile and provide accurate financial reports.

Financial Monitoring and Analysis: Monitor and collect data to assess its accuracy and integrity to ensure compliance with applicable standards, rules, regulations and internal controls.

Decision Making: Ability to use effective approaches for choosing a course of action, and to take action consistent with available facts, constraints and anticipated consequences.

Leadership, Assertiveness and Supervision: Ability to recruit, select, counsel, discipline, establish performance standards and evaluate performance of employees; ensure compliance with human resources policies and procedures; monitor and assess work, provide feedback, and plan and support employees.

Communication: Good oral and written communication skills. Ability to clearly and concisely convey information orally or in writing to individuals and groups to ensure it is well understood; listen and respond appropriately to others; establish effective working relationships that foster organizational success; and build and work in a team.

Self-motivated, result-oriented, and able to work under minimum supervision.

Ability to meet tight deadlines.

DUTIES AND RESPONSIBILITIES

Manage the accounts receivable function, including billing processes, claims submission, posting of receipts for payments received, and ensuring that debtors’ statements are up to date.

Support the credit control team to ensure that timely debt collection is continuously happening.

Ensure complete, timely and accurate revenue recognition by:

• Ensuring that all claims are submitted by the insurance team.
• Ensuring that all services received are billed.
• Ensuring that all missing claim forms are identified and tracked.
• Ensuring that all insurance and partner invoices are submitted within the agreed timelines, with all the necessary attachments.
• Ensuring that all insurance billing and submission documents are properly filed in an organized manner.

Prepare revenue reports (including but not limited to cash, insurance, family health, staff and staff dependents).

Develop and maintain relationships with patients, insurance companies and third-party payers, addressing inquiries, resolving disputes, and participating in negotiating payment arrangements as may be required.

Support the Manager Disputes and Credit in the performance of their role, and act as cover for the office while they are on leave.

Ensure all insurance and individual company payments are receipted and receipts are shared with the different payers.

Ensure complete revenue allocation for all paid invoices (insurances, companies, families, etc.).

Monitor and analyze accounts receivable aging reports, identify trends and areas for improvement, and implement strategies to reduce bad debts and improve collections.

Keep updated on recent insurance policies, regulations and procedures, and ensure timely communication and compliance of all teams with the updated policies and regulations.

Offer support supervision to the insurance billing and inpatient billing teams to ensure accurate billing, enhance revenue capture, and minimize rejections and bad debts.

Work with the Disputes Manager to address and recover monies from rejected claims.

Review and analyze accounts receivable reports, claims invoice submission reports, debtors’ balances, statements and ageing reports to provide insights for decision-making.

Draft/generate cash flow projections.

Assist in the development of revenue budgets and forecasts by providing data and analysis related to accounts receivable activities and collections.

Coordinate with internal and external auditors during audits, providing documentation and support to ensure compliance with audit requirements.

Supervise and mentor junior accounting staff, providing guidance, training and support as needed.

Participate in annual Financial and Tax Audits.

Participate in documentation and monitoring of internal controls.

Enforce and monitor compliance with company-wide accounting policies and procedures.

Any other responsibility as may be assigned by the immediate supervisor.

KEY RESULT INDICATORS

Accurate monthly reports.

Up-to-date General Ledger.

Accounts staff productivity.

Accurate financial information.

A well-organized accounts document storage and retrieval system.

Timely claims submission.

Timely receipt and revenue reconciliation.

Timely reconciliations with all debtors, as per agreement/standards set internally, including insurance, family health, companies, individual debtors, staff and staff dependents.

Adherence to insurance policies, procedures and timelines.

Accuracy of billing by insurance and inpatient billing officers.

REPORTS

Daily insurance revenue report.

Daily cash reconciliation report.

Daily banking report.

Daily missing claims report.

Weekly revenue reconciliation report.

Monthly insurance claims submission report.

Monthly debtors’ statements.

Monthly Trial Balance.

Monthly invoicing summary and updated debtors’ statements.

Monthly cash flow projection reports.

Staff attendance report.

Quarterly debtors’ reconciliation report.

Quarterly disputes/resubmission report.

Bi-annual revenue budget.

All revenue ledgers’ reconciliation reports.

Insurance billing routine evaluation and progress report.

• Manage the accounts receivable function, including billing processes, claims submission, posting of receipts for payments received, and ensuring that debtors’ statements are up to date.
• Support the credit control team to ensure that timely debt collection is continuously happening.
• Ensure complete, timely and accurate revenue recognition by:
• Ensuring that all claims are submitted by the insurance team.
• Ensuring that all services received are billed.
• Ensuring that all missing claim forms are identified and tracked.
• Ensuring that all insurance and partner invoices are submitted within the agreed timelines, with all the necessary attachments.
• Ensuring that all insurance billing and submission documents are properly filed in an organized manner.
• Prepare revenue reports (including but not limited to cash, insurance, family health, staff and staff dependents).
• Develop and maintain relationships with patients, insurance companies and third-party payers, addressing inquiries, resolving disputes, and participating in negotiating payment arrangements as may be required.
• Support the Manager Disputes and Credit in the performance of their role, and act as cover for the office while they are on leave.
• Ensure all insurance and individual company payments are receipted and receipts are shared with the different payers.
• Ensure complete revenue allocation for all paid invoices (insurances, companies, families, etc.).
• Monitor and analyze accounts receivable aging reports, identify trends and areas for improvement, and implement strategies to reduce bad debts and improve collections.
• Keep updated on recent insurance policies, regulations and procedures, and ensure timely communication and compliance of all teams with the updated policies and regulations.
• Offer support supervision to the insurance billing and inpatient billing teams to ensure accurate billing, enhance revenue capture, and minimize rejections and bad debts.
• Work with the Disputes Manager to address and recover monies from rejected claims.
• Review and analyze accounts receivable reports, claims invoice submission reports, debtors’ balances, statements and ageing reports to provide insights for decision-making.
• Draft/generate cash flow projections.
• Assist in the development of revenue budgets and forecasts by providing data and analysis related to accounts receivable activities and collections.
• Coordinate with internal and external auditors during audits, providing documentation and support to ensure compliance with audit requirements.
• Supervise and mentor junior accounting staff, providing guidance, training and support as needed.
• Participate in annual Financial and Tax Audits.
• Participate in documentation and monitoring of internal controls.
• Enforce and monitor compliance with company-wide accounting policies and procedures.
• Any other responsibility as may be assigned by the immediate supervisor.

• Professional knowledge of accounting
• Ability to reconcile and provide accurate financial reports
• Financial monitoring and analysis
• Ability to assess data accuracy and integrity
• Ensure compliance with standards, rules, regulations and internal controls
• Decision making
• Leadership
• Assertiveness
• Supervision
• Ability to recruit, select, counsel, discipline, establish performance standards and evaluate performance of employees
• Ensure compliance with human resources policies and procedures
• Monitor and assess work, provide feedback, and plan and support employees
• Good oral and written communication skills
• Ability to clearly and concisely convey information orally or in writing
• Listen and respond appropriately to others
• Establish effective working relationships
• Build and work in a team
• Self-motivated
• Result-oriented
• Able to work under minimum supervision
• Ability to meet tight deadlines
• Good knowledge of Excel
• Experience in the application of accounting standards in financial reporting

• Bachelor’s Degree in Business Administration, Accounting or Commerce from a recognized university
• Fully qualified Chartered Accountant (CPA/ACCA/CFA)
• Minimum of three years’ working experience as an accountant, preferably with a profit-making organization
• Scored at least Credit 6 in Mathematics and English at Ordinary Level (UCE)
• Experience of working with a medical facility is an added advantage
• Mature individual with a proven track record of supervising staff