VARIANCE SPECIALIST

Riverside Healthcare is seeking a detail-oriented and experienced Variance Specialist to join our team in Kankakee, Illinois. This role is pivotal in ensuring the accuracy and compliance of our revenue cycle processes. The ideal candidate will be responsible for analyzing revenue variances, identifying discrepancies, and implementing strategies to enhance financial performance and regulatory compliance. This position demands a blend of analytical skills, healthcare revenue cycle knowledge, and exceptional problem-solving abilities

Essential Duties

• Revenue Variance Analysis:
• Review and analyze variances in revenue cycle metrics, including billing, coding, and reimbursement processes.
• Identify root causes of discrepancies and develop corrective actions to address issues.
• Monitor and report on revenue performance metrics to ensure alignment with organizational goals.
• Data Review and Reconciliation:
• Conduct regular audits of financial and operational data to verify accuracy and compliance with regulatory standards.
• Reconcile variances in revenue data between different financial systems and reports.
• Compliance and Documentation:
• Ensure adherence to federal, state, and payer-specific regulations and guidelines.
• Maintain comprehensive documentation of variance analyses, investigations, and resolutions.
• Collaboration and Communication:
• Work closely with finance, billing, coding, and other departments to resolve revenue-related issues.
• Provide training and support to staff on revenue integrity best practices and compliance requirements.
• Reporting and Recommendations:
• Prepare detailed reports on revenue variances, trends, and impact on financial performance.
• Offer recommendations for process improvements to enhance revenue integrity and operational efficiency.
• Continuous Improvement:
• Stay updated with industry changes and emerging trends in revenue cycle management.
• Participate in and contribute to ongoing process improvement initiatives and projects.

Non-essential Duties

• Assist with special projects and initiatives as assigned by management.

Required Experience

• Minimum of 3 years of experience in revenue cycle management, financial analysis, or a related role within a healthcare setting.

Preferred Experience

• Proficiency in financial analysis, contract knowledge and variance reporting.
• Strong knowledge of healthcare billing, coding, and reimbursement processes.
• Excellent analytical, problem-solving, and critical-thinking skills.
• Advanced proficiency in Microsoft Excel and experience with financial software and electronic health record (EHR) systems.
• Effective communication and interpersonal skills.

Preferred Education

• Bachelors degree in Finance, Accounting, Healthcare Administration, or a related field preferred.
• Certification in Healthcare Compliance (CHC) or similar certification.

Employee Health Requirements

Exposure/Sensory Requirements

Exposure to: 

• Chemicals: None 
• Video Display Terminals: Extreme 
• Blood and Body Fluids: None 
• TB or Airborne Pathogens: None. 

Sensory requirements (speech, vision, smell, hearing, touch):

• Speech: Needed for presentations/training, telephone communication, facilitate meetings. 
• Vision: Needed to read memos and literature. 
• Smell: N/A 
• Hearing: Needed for telephone communications, meetings, and listening to employee concerns. 
• Touch: Need to write, do computer entry, filing. 

Activity/Lifting Requirements  

Percentage of time during the normal workday the employee is required to:

• Sit: 85% 
• Twist: 0% 
• Stand: 5% 
• Crawl: 0% 
• Walk: 5% 
• Kneel: 0% 
• Lift: 2% 
• Drive: 0% 
• Squat: 1% 
• Climb: 0% 
• Bend: 1% 
• Reach above shoulders: 1% 

The weight required to be lifted each normal workday according to the continuum described below:

• Up to 10 lbs: Occasionally 
• Up to 20 lbs: Occasionally 
• Up to 35 lbs: Not Required 
• Up to 50 lbs: Not Required 
• Up to 75 lbs: Not Required 
• Up to 100 lbs: Not Required 
• Over 100 lbs: Not Required 

Describe and explain the lifting and carrying requirements. (Example: the distance material is carried; how high material is lifted, etc.): Lifting is not usually required. 

Maximum consecutive time (minutes) during the normal workday for each activity:

• Sit: 408 
• Twist: 0 
• Stand: 24 
• Crawl: 0 
• Walk: 24 
• Kneel:0 
• Lift: 9 
• Drive: 0 
• Squat: 8 
• Climb: 0 
• Bend: 8 
• Reach above shoulders: 4 

Repetitive use of hands (Frequency indicated): 

• Simple grasp up to 10 lbs. 
• Normal weight: 5- 10# frequent 
• Pushing &pulling Normal weight: 
• Fine Manipulation: Terminal entry, calculator. 

Repetitive use of foot or feet in operating machine control: None 

Environmental Factors &Special Hazards

• Environmental Factors (Time Spent): 
• Inside hours: 40 
• Outside hours : 0 
• Temperature: Normal Range 
• Lighting: Average 
• Noise levels: Average
• Humidity: Normal Range 
• Atmosphere: Dust &Poor Ventilation 
• Special Hazards: Protective Clothing Required: None