Revenue Recovery Specialist
6 days ago
**Job Summary**
Coloplast is seeking a highly skilled Collections Specialist to join our team. As a Collections Specialist, you will be responsible for timely and accurate resolution of accounts either through cash collections or write-offs.
**Key Responsibilities**
- Perform collection follow-up on assigned accounts on a regular basis to ensure timely and accurate resolution.
- Request correct adjustments to resolve outstanding account balances and ensure compliance with company policies.
- Review, track, and research outstanding payments to ensure timely receipt of payments and increase revenue.
- Complete adjustment requests in compliance with month-end schedule and maintain accurate and detailed chart notes in system.
- Follow up on all denials prior to the payer's appeals deadline and identify denial trends to make recommendations for resolutions.
- Prepare adjustments such as refunds, contractual differences, and write-offs for approval and processing.
- Verify that payments received are correct and answer patients' or insurers' billing questions.
- Set up budget payment plans with patients and monitor repayment activity.
- Correct posting payments and make charge adjustments to patient accounts.
- Identify possible collection actions and refer collections issues to the Manager.
**Requirements**
- High school diploma required.
- Minimum of 3 years of collections experience and 1 year of experience in collections and receivables for patients, insurance verification, or government medical programs OR 1 year of relevant DME experience.
- Strong background and proven success in collections and negotiation skills.
- Excellent medical terminology skills.
- Ability to learn and understand reimbursement issues and Medicare guidelines.
- Bilingual (Spanish/English) is a plus, but not required.
**About Coloplast**
Coloplast is a leading provider of medical devices and services. We are committed to improving the lives of people with medical conditions and providing high-quality products and services.
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