What Does a Billing Manager Do?

Billing managers are responsible for overseeing the billing process at their company or organization. They ensure that all of the bills are being generated and sent out on time, track payments as they come in, and make sure that everything is being recorded correctly.

Billing managers may also be responsible for managing relationships with vendors and suppliers. This might include negotiating contracts, reviewing proposals, and ensuring that the company gets the best possible deals on services and products it needs to operate.

Billing Manager Job Duties

A billing manager typically has a wide range of responsibilities, which can include:

• Reviewing claims to ensure that all items billed are appropriate for the services provided by the company
• Reviewing claims for errors in coding or other mistakes that would prohibit payment from insurance companies
• Managing the collection of accounts receivable through phone calls, letters, or legal action when necessary
• Preparing reports detailing the status of outstanding accounts receivable balances and collections efforts
• Communicating with insurers about coverage details and policy changes that may affect future claims payment amounts
• Monitoring the performance of the company’s claims representatives to ensure they are making accurate payments and meeting service standards
• Coordinating audits of insurance claims to ensure they meet regulations and industry standards
• Reviewing insurance policies to determine coverage levels and rates, and making recommendations to management
• Negotiating with insurance companies to obtain lower premiums in return for higher deductibles or co-payments

Billing Manager Salary & Outlook

Billing managers’ salaries vary depending on their level of education, years of experience, and the size and industry of the company. They may also earn additional compensation in the form of bonuses.

• Median Annual Salary: $62,500 ($30.05/hour)
• Top 10% Annual Salary: $106,000 ($50.96/hour)

The employment of billing managers is expected to grow slower than average over the next decade.

Demand for healthcare services will continue to increase as the large baby-boom population ages and people live longer, leading to greater demand for medical care. However, the increasing use of electronic health records (EHRs) and other information technology (IT) systems may slow the need for billing managers because these systems can automate some billing processes.

Related: Billing Manager Interview Questions and Answers

Billing Manager Job Requirements

The billing manager position typically requires the following:

Education: Billing managers typically need a minimum of a high school diploma or GED certificate. Some employers prefer candidates who have a bachelor’s degree in accounting, finance or another closely related field. Relevant coursework includes accounting, business law, economics, finance, statistics and business communication.

Training & Experience: Most of a billing manager’s training will take place on the job, where they will learn the specific processes and procedures of the company. They may also receive training in their previous position as a billing clerk or a medical billing specialist.

Certifications & Licenses: Professional certifications can validate a professional’s qualifications to current and future employers. Billing managers can earn certifications to gain more practical knowledge of their daily responsibilities, test their professional skills and further advance their career.

Billing Manager Skills

Billing managers need the following skills in order to be successful:

Communication: Communication is the act of conveying information through speech, writing or other methods. Billing managers must be able to communicate effectively with their team members, clients and other stakeholders. This includes the ability to listen and respond to questions and requests. Billing managers who are skilled communicators can help their teams work more efficiently and effectively.

Organization: Billing managers oversee a variety of tasks, including managing client information, reviewing invoices and preparing reports. Being able to stay organized can help you manage your workload and prioritize your responsibilities.

Time management: Time management is the ability to complete tasks within a certain time frame. Billing managers often have multiple tasks they need to complete each day, so time management skills can help them meet their deadlines. Billing managers can also use time management skills to ensure they have enough time to complete all of their daily tasks.

Problem-solving: Billing managers are responsible for overseeing the billing process for a company, which means they may need to solve any issues that arise. For example, if a customer is having trouble paying their bill, a billing manager may need to find a solution to help them. This may involve working with other departments to find a solution or reaching out to the customer directly.

Leadership: Billing managers often work with a team of other professionals, including account managers, customer service representatives and other managers. Leadership skills can help billing managers motivate their team members and help them grow professionally. Effective leaders can also help their teams work together to achieve common goals.

Billing Manager Work Environment

Billing managers work in a variety of settings, including hospitals, clinics, physician’s offices, and insurance companies. They typically work full time, and some may work overtime to meet deadlines. Billing managers may be under a lot of pressure to ensure that claims are processed correctly and in a timely manner. They may also be responsible for training and supervising billing and coding staff.

Billing Manager Trends

Here are three trends influencing how billing managers work. Billing managers will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

The Growth of the Healthcare Industry

The healthcare industry is growing at a rapid pace, which is creating opportunities for billing managers. As more and more people get insurance, there will be an increased need for professionals who can manage the billing process.

Billing managers can take advantage of this trend by becoming experts in the healthcare industry. This will allow them to better understand the needs of their clients and provide more value-added services. In addition, they should focus on developing relationships with other professionals in the industry, such as accountants and attorneys, in order to create a network that can help them grow their business.

More Focus on Patient Satisfaction

As the healthcare industry continues to evolve, patient satisfaction has become increasingly important. This means that billing managers will need to focus on providing excellent customer service in order to keep patients happy.

In order to succeed in this new environment, billing managers will need to be able to communicate effectively with patients and understand what they want from their healthcare experience. They will also need to be familiar with current trends in healthcare, such as the move towards value-based care.

Greater Use of Technology

The use of technology in the billing management field is increasing rapidly as businesses look for ways to streamline operations and reduce costs.

Billers who are able to utilize technology in their work will be more successful in the long run, as they will be able to automate many tasks that would otherwise require manual labor. Additionally, they will be better equipped to handle complex tasks that require data analysis or the use of software tools.

How to Become a Billing Manager

A billing manager career can be a great way to get your foot in the door of the accounting field. As a billing manager, you’ll be responsible for managing the billing process for a company. This includes creating and sending invoices, collecting payments, and resolving customer issues.

To become a billing manager, you’ll need to have strong organizational skills and be able to handle stress well. You’ll also need to be familiar with accounting software programs like QuickBooks and Excel.

Advancement Prospects

Billing managers typically have several years of experience working in medical billing and coding. Some may have started out as medical billers or coders and been promoted to manager, while others may have been promoted from within the organization. As with most management positions, billing managers must have strong leadership and communication skills. They must be able to motivate employees and work with other departments to ensure that billing and coding processes are running smoothly.

Billing managers may advance to positions such as director of billing or director of health information management. They may also move into other areas of healthcare administration, such as human resources or finance. With further education and training, they may qualify for positions in hospital administration or healthcare policy.

Billing Manager Job Description Example

At [CompanyX], we provide our clients with the best possible service by keeping our billing process efficient and organized. We’re looking for an experienced billing manager to join our team and help us maintain our high standards. The ideal candidate will have experience in accounts receivable, invoicing, and collections. They will be highly organized, detail-oriented, and able to work independently. Additionally, they will have excellent communication skills and be able to resolve customer inquiries in a timely and professional manner.

Duties & Responsibilities

• Oversee the daily operations of the billing department, including Accounts Receivable (A/R), Accounts Payable (A/P), and payroll
• Ensure that all invoices are accurate and sent out in a timely manner
• Review aged receivables and take appropriate action to collect outstanding balances
• Reconcile monthly A/R and A/P statements
• Prepare monthly financial reports
• Maintain up-to-date knowledge of billing and accounting regulations
• Train and supervise billing staff
• Handle customer inquiries and resolve billing disputes
• Process employee expense reports
• Negotiate payment terms with vendors
• Prepare journal entries and post to the general ledger
• Perform month-end closing procedures

Required Skills and Qualifications

• Bachelor’s degree in accounting, business administration, or related field
• 5+ years experience in billing, accounts receivable, or similar role
• Proven leadership and management skills
• Excellent organizational and time-management skills
• Exceptional written and verbal communication skills
• Strong attention to detail

Preferred Skills and Qualifications

• Working knowledge of QuickBooks or other accounting software
• Experience with medical billing and coding
• Familiarity with insurance claims and reimbursement processes
• Ability to multitask and handle a high volume of work