Finance & Revenue Cycle Management (RCM) Specialist (Saudi Arabia)

Finance & Revenue Cycle Management (RCM) Specialist

The Finance & Revenue Cycle Management (RCM) Specialist is a pivotal role responsible for overseeing the financial operations and revenue cycle management of KAUST Health. This involves ensuring accurate financial reporting, effective budget management, and efficient insurance claims processing, all while maintaining compliance with contractual agreements and healthcare regulations.

• Review and validate invoices submitted by healthcare operators to ensure accuracy, completeness, and compliance with contractual agreements before payment approval.
• Evaluate and approve quotations for healthcare services by verifying pricing, scope, and alignment with agreed contracts and organizational policies.
• Lead the annual budgeting process, including budget preparation, monitoring, forecasting, and expenditure control to support KAUST Health's financial objectives.
• Prepare financial reports and conduct variance analysis, providing monthly financial insights, forecasting, and recommendations to improve operational and financial performance.
• Manage the end-to-end Revenue Cycle Management (RCM) process, ensuring timely and accurate submission of insurance claims to all insurance providers.
• Validate insurance claims by reviewing billing accuracy, medical coding, documentation, and compliance with payer requirements to minimize claim denials.
• Monitor claim rejections, collections, and reimbursement performance, analyze denial trends, implement corrective actions, and improve cash flow and revenue recovery.
• Lead reconciliation meetings with healthcare operators and insurance companies to resolve payment discrepancies, outstanding claims, billing issues, and account reconciliations.
• Develop and present financial and revenue cycle KPIs to senior leadership, identifying financial risks, revenue optimization opportunities, and process improvement initiatives.
• Ensure financial compliance and stakeholder collaboration by supporting internal and external audits, maintaining compliance with financial policies and healthcare regulations, and serving as the primary liaison between KAUST Health, Finance, healthcare operators, and insurance companies.

To excel in this role, candidates should possess a Bachelor's degree in Finance, Accounting, Business Administration, or a related discipline, with a preference for Finance or Accounting. A Master's degree in a relevant field is preferred. Professional certifications such as CPA, CMA, or ACCA are considered an asset. The ideal candidate will have a minimum of 6 years of professional experience, including at least 3 years in a leadership or specialist role in finance, healthcare finance, or revenue cycle management. Proven experience in healthcare finance, advanced Microsoft Excel proficiency, and extensive knowledge of Revenue Cycle Management (RCM) are essential.