In this weekly feature, the editors of SpringBoard highlight one career in the health care professions–including a basic description, educational requirements, core competencies/key skills needed, and related web sites and professional organizations where you can find more information!
The Director of Patient Accounts is responsible for promoting and maximizing the revenue cycle throughout the organization. This includes oversight of all processes involved in the capture, management, and collection of patient revenues.
EDUCATION AND EXPERIENCE
A bachelor’s degree in finance or accounting is required, but a master’s degree is preferred. An experience of 3 to 5 years in healthcare accounting and finance is required.
CORE COMPETENCIES AND SKILLS
■Outstanding interpersonal skills including the ability to effectively communicate with persons throughout the organization and in the community
■ Ability to plan, direct, and evaluate staff
■ Excellent verbal and written communication skills
■ Excellent understanding of hospital billing, coding, registration, and financing
■ Ability to hold subordinates accountable for organizational goals
■ Ability to develop and maintain a department budget
A Director of Patient Accounts may earn in the range of $80,000 to $150,000. However, this figure varies depending on a number of variables including the size of the hospital and the region of the country in which the hospital is located. Directors of Patient Accounts of smaller hospitals in more rural areas tend to earn less than their counterparts at large, urban hospitals.
Job prospects for Directors of Patient Accounts are reported to be good across the country. This is a crucial position in maintaining and improving the financial standing of any hospital.
FOR FURTHER INFORMATION
■ HFMA (http://www.hfma.org)