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Become A Reimbursement Analyst

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Working As A Reimbursement Analyst

  • Getting Information
  • Communicating with Supervisors, Peers, or Subordinates
  • Establishing and Maintaining Interpersonal Relationships
  • Analyzing Data or Information
  • Organizing, Planning, and Prioritizing Work
  • Deal with People

  • Mostly Sitting

  • $69,594

    Average Salary

What Does A Reimbursement Analyst Do

Management analysts, often called management consultants, propose ways to improve an organization’s efficiency. They advise managers on how to make organizations more profitable through reduced costs and increased revenues.

Duties

Management analysts typically do the following:

  • Gather and organize information about the problem to be solved or the procedure to be improved
  • Interview personnel and conduct onsite observations to determine the methods, equipment, and personnel that will be needed
  • Analyze financial and other data, including revenue, expenditure, and employment reports
  • Develop solutions or alternative practices
  • Recommend new systems, procedures, or organizational changes
  • Make recommendations to management through presentations or written reports
  • Confer with managers to ensure changes are working

Although some management analysts work for the organization that they analyze, most work as consultants on a contractual basis. 

Whether they are self-employed or part of a large consulting company, the work of a management analyst may vary from project to project. Some projects require a team of consultants, each specializing in one area. In other projects, consultants work independently with the client organization’s managers.

Management analysts often specialize in certain areas, such as inventory management or reorganizing corporate structures to eliminate duplicate and nonessential jobs. Some consultants specialize in a specific industry, such as healthcare or telecommunications. In government, management analysts usually specialize by type of agency.

Organizations hire consultants to develop strategies for entering and remaining competitive in today’s marketplace.

Management analysts who work on contract may write proposals and bid for jobs. Typically, an organization that needs the help of a management analyst solicits proposals from a number of consultants and consulting companies that specialize in the needed work. Those who want the work must then submit a proposal by the deadline that explains how the consultant will do the work, who will do the work, why they are the best consultants to do the work, what the schedule will be, and how much it will cost. The organization that needs the consultants then selects the proposal that best meets its needs and budget.

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How To Become A Reimbursement Analyst

Most management analysts have at least a bachelor’s degree. The Certified Management Consultant (CMC) designation may improve job prospects.

Education

A bachelor’s degree is the typical entry-level requirement for management analysts. However, some employers prefer to hire candidates who have a master’s degree in business administration (MBA).

Few colleges and universities offer formal programs in management consulting. However, many fields of study provide a suitable education because of the range of areas that management analysts address. Common fields of study include business, management, economics, political science and government, accounting, finance, marketing, psychology, computer and information science, and English.

Analysts also routinely attend conferences to stay up to date on current developments in their field.

Licenses, Certifications, and Registrations

The Institute of Management Consultants USA (IMC USA) offers the Certified Management Consultant (CMC) designation to those who meet minimum levels of education and experience, submit client reviews, and pass an interview and exam covering the IMC USA’s code of ethics. Management consultants with a CMC designation must be recertified every 3 years. Management analysts are not required to get certification, but it may give jobseekers a competitive advantage.

Work Experience in a Related Occupation

Many analysts enter the occupation with several years of work experience. Organizations that specialize in certain fields typically try to hire candidates who have experience in those areas. Typical work backgrounds include experience in management, human resources, and information technology. 

Advancement

As consultants gain experience, they often take on more responsibility. At the senior level, consultants may supervise teams working on more complex projects and become more involved in seeking out new business. Those with exceptional skills may eventually become partners in their consulting organization and focus on attracting new clients and bringing in revenue. Senior consultants who leave their consulting company often move to senior management positions at nonconsulting organizations.

Important Qualities

Analytical skills. Management analysts must be able to interpret a wide range of information and use their findings to make proposals.

Communication skills. Management analysts must be able to communicate clearly and precisely in both writing and speaking. Successful analysts also need good listening skills to understand the organization’s problems and propose appropriate solutions.

Interpersonal skills. Management analysts must work with managers and other employees of the organizations where they provide consulting services. They should work as a team toward achieving the organization’s goals. 

Problem-solving skills. Management analysts must be able to think creatively to solve clients’ problems. Although some aspects of different clients’ problems may be similar, each situation is likely to present unique challenges for the analyst to solve.

Time-management skills. Management analysts often work under tight deadlines and must use their time efficiently to complete projects on time.

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Reimbursement Analyst Career Paths

Reimbursement Analyst
Analyst Finance Analyst
Accounting Manager
8 Yearsyrs
Reimbursement Specialist Medical Coder Auditor
Assistant Controller
6 Yearsyrs
Finance Analyst Account Manager Billing Specialist
Business Office Manager
8 Yearsyrs
Auditor Accountant Business Manager
Business Operations Manager
8 Yearsyrs
Senior Accountant Staff Accountant Senior Auditor
Controls Manager
7 Yearsyrs
Auditor Accounting Manager Human Resources Manager
Corporate Director
11 Yearsyrs
Senior Accountant Senior Consultant Information Technology Director
Director Of Information Management
11 Yearsyrs
Analyst Senior Finance Analyst Controller
Finance Controller
9 Yearsyrs
Controller Human Resources Manager Talent Acquisition Manager
Global Manager
11 Yearsyrs
Senior Analyst Senior Business Analyst Implementation Manager
Integration Manager
10 Yearsyrs
Senior Finance Analyst Assistant Vice President
Manager, Assistant Vice President
7 Yearsyrs
Reimbursement Specialist Case Manager Project Manager
Manager, Project Management
9 Yearsyrs
Senior Finance Analyst Controller Operations Manager
Practice Manager
9 Yearsyrs
Finance Analyst Pricing Analyst
Pricing Manager
7 Yearsyrs
Senior Analyst Quality Assurance Lead Quality Manager
Process Improvement Manager
10 Yearsyrs
Business Analyst Assistant Vice President Risk Manager
Risk Management Director
10 Yearsyrs
Business Analyst Senior Finance Analyst Assistant Vice President
Risk Manager
8 Yearsyrs
Data Analyst Contracts Administrator Subcontracts Manager
Senior Managed
7 Yearsyrs
Controller Executive Vice President Executive Assistant To Chief Executive Officer
Special Projects Manager
7 Yearsyrs
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Do you work as a Reimbursement Analyst?

Reimbursement Analyst Demographics

Gender

Female

72.0%

Male

25.8%

Unknown

2.1%
Ethnicity

White

62.7%

Hispanic or Latino

13.9%

Black or African American

12.7%

Asian

7.3%

Unknown

3.4%
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Foreign Languages Spoken

Spanish

52.2%

French

8.7%

Chinese

4.3%

German

4.3%

Cantonese

4.3%

Russian

4.3%

Carrier

4.3%

Armenian

4.3%

Mandarin

4.3%

Korean

4.3%

Italian

4.3%
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Reimbursement Analyst Education

Schools

University of Phoenix

25.0%

Strayer University

7.0%

Bellevue University

6.3%

University of Nebraska at Omaha

4.7%

Webster University

4.7%

Northeastern University

4.7%

Lindenwood University

4.7%

Indiana Wesleyan University

4.7%

University of Central Florida

3.9%

University of Louisville

3.9%

Southern New Hampshire University

3.9%

Robert Morris University

3.1%

Virginia Commonwealth University

3.1%

Troy University

3.1%

Texas A&M University

3.1%

George Mason University

3.1%

Saint Louis University-

3.1%

University of South Carolina - Columbia

3.1%

Western Washington University

2.3%

Averett University

2.3%
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Majors

Business

38.2%

Accounting

15.7%

Health Care Administration

11.5%

Management

5.4%

Finance

4.7%

Psychology

2.8%

Public Health

2.1%

General Studies

2.1%

Human Resources Management

2.1%

Computer Information Systems

2.1%

Marketing

1.9%

Medical Assisting Services

1.7%

Criminal Justice

1.6%

Nursing

1.4%

Insurance

1.4%

Information Systems

1.2%

Education

1.0%

Pharmacy

1.0%

Information Technology

1.0%

Economics

0.9%
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Degrees

Bachelors

42.6%

Masters

21.8%

Other

18.3%

Associate

10.3%

Certificate

4.8%

Diploma

1.4%

Doctorate

0.7%

License

0.3%
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Real Reimbursement Analyst Salaries

Job Title Company Location Start Date Salary
Reimbursement Analyst Sutter Health Support Services Sacramento, CA Oct 29, 2012 $95,000
Reimbursement Analyst Parkland Health & Hospital System Dallas, TX Feb 22, 2016 $83,491
Clinical Reimbursement Analyst RN Express Staffing Registry, LLC New York, NY Sep 30, 2015 $81,435
Clinical Reimbursement Analyst RN Express Staffing Registry, LLC New York, NY Sep 30, 2015 $80,433
Reimbursement Analyst Byram Healthcare Centers, Inc. White Plains, NY Jun 10, 2010 $75,000
Clinical Reimbursement Analyst RN Express Staffing Registry, LLC New York, NY Oct 01, 2012 $74,880
Senior Reimbursement Analyst Providence Hospital Washington, DC Oct 30, 2009 $71,000
Clinical Reimbursement Analyst The Charts Group LLC Lakewood, NJ Jan 20, 2014 $62,714
Institutional Reimbursement Analyst Blue Cross Blue Shield of Nebraska Omaha, NE Oct 02, 2012 $61,176
Reimbursement Analyst Adventist Health System Altamonte Springs, FL Oct 01, 2012 $50,305
Revenue and Reimbursement Analyst Accretive Health Inc. Chicago, IL Nov 01, 2011 $50,000 -
$60,000
Clinical Reimbursement Analyst Tender Touch Rehab Services LLC Lakewood, NJ Nov 18, 2011 $45,000

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Top Skills for A Reimbursement Analyst

  1. Financial Statements
  2. Medicaid
  3. Medicare
You can check out examples of real life uses of top skills on resumes here:
  • Prepared monthly and yearly financial statements to present to management and senior executives.
  • Analyzed hospital operating costs pertaining to Medicare patients in order to properly prepare and submit Medicare/Medicaid Cost Report to government agencies.
  • Developed Medicare cost models for skilled nursing facilities comparing current financial operations with current reimbursement rates.
  • Prepared annual cost reports for Medicare and Medicaid, ensuring compliance with federal and state public welfare codes.
  • Contract interpretation and enforcement of the agreement with multiple medical insurance companies through written and oral appeals is accomplished daily.

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Top 10 Best States for Reimbursement Analysts

  1. Virginia
  2. Maryland
  3. District of Columbia
  4. Massachusetts
  5. New Jersey
  6. Washington
  7. Connecticut
  8. New York
  9. Texas
  10. Alabama
  • (1,503 jobs)
  • (766 jobs)
  • (679 jobs)
  • (729 jobs)
  • (556 jobs)
  • (409 jobs)
  • (272 jobs)
  • (1,337 jobs)
  • (1,602 jobs)
  • (211 jobs)

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