The billing analyst job description includes numerous vital functions in a company’s accounting department. Job responsibilities can differ based on the size of the company and the amount of billing that is necessary.
The billing analyst is mainly responsible for sending out invoices to bring in revenue for the company.
Essential Duties and Responsibilities of a Billing Analyst
- Analyzes all billing procedures.
- Obtains billing approval from superiors.
- Prepares computerized invoices for customers.
- Implements an effective billing system.
- Reviews all records associated with bills to ensure accuracy.
- Ensures that all billing calculations are correct before sending invoices to customers.
- Meets all billing deadlines.
- Keeps detailed records of all billing transactions, expenses, income and fund transfers.
- Reconciles billing records and reports income projections to administration.
- Recommends changes in billing processes.
- Assists and supports all billers.
- Trains new employees in the billing department.
- Participates in audits when necessary.
- Analyzes and reviews insurance claims and all third party claims.
- Produces reports for management upon request or on a regular basis.
- Produces charts and graphs to show revenue variances for analysis by billing manager or executive staff.
- Explains bills to customers who have questions.
- Ensures confidentiality in billing procedures.
- Analyzes and reviews delinquent accounts.
- Contacts companies with delinquent accounts to arrange payment.
- Monitors monthly payment plans of companies with credit lines.
- Negotiates settlements with companies facing financial hardships or contemplating bankruptcy.
- Contact collection agencies to arrange recovery of seriously delinquent accounts.
- Works with attorneys when legal intervention is necessary to obtain payment of bills.
- Takes part in selection of new or upgraded computer billing systems.
- Takes part in the process of converting to a new system and educating billing staff on how to use it properly.
Required Knowledge, Skills and Abilities
- Excellent customer service skills.
- Must have exceptional math skills.
- Must have clear understanding of billing programs.
- Knowledgeable about accepted accounting practices.
- Must have excellent computer skills.
- Knowledgeable about Microsoft Access and Excel programs.
- Must be detail oriented and highly organized.
- Must have superior analytical skills.
- Must have knowledge of universal billing codes relevant to industry.
- Must be an efficient multi-tasker.
- Must have excellent written and verbal communication skills.
- Possesses the ability to work independently with little supervision.
- Has the ability to manage stressful situations, particularly when closing out a month or a fiscal year.
Education and Experience
- High School Diploma.
- Experience as a billing clerk or billing supervisor.
- Associate’s degree in math-related field like accounting or finance.
- Bachelor’s degree in Accounting, Finance or other math-related field.
- Certified Professional Billing Analyst designation.
- Time is spent mostly in climate controlled private office or shared office space.
- Must be able to endure long hours of looking at computer screens.
- Must be willing to work longer hours and possibly weekends at the end of each month and at the close of each fiscal year.
- Must be willing to attend classes to learn new billing systems and processes or to renew certifications.
- Average salaries range from $35,000 to $50,000 depending on experience and years of service.