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Accounts Receivable Specialist
2 months ago
Coloplast, a leader in medical supplies, is in search of a Collections Specialist dedicated to ensuring the efficient and precise management of accounts through effective cash collection strategies or appropriate write-offs. This role also involves the accurate resubmission of claims, both electronically and manually.
Key Responsibilities
- Conduct regular follow-ups on assigned accounts to facilitate collections.
- Request necessary adjustments to resolve outstanding balances effectively.
- Monitor, track, and investigate pending payments to ensure timely collection, thereby enhancing Coloplast's revenue and minimizing accounts receivable.
- Execute adjustment requests in line with the month-end schedule.
- Address all denials prior to the payer's appeals deadline.
- Identify trends in denials and propose solutions for resolution.
- Prepare adjustments, including refunds, contractual discrepancies, and write-offs for review and processing.
- Maintain comprehensive and accurate notes within the system.
- Verify the accuracy of received payments.
- Respond to billing inquiries from patients and insurers.
- Establish budget payment plans with patients and oversee repayment activities.
- Correctly post payments and adjust charges on patient accounts.
- Recognize potential collection actions and escalate issues to management.
- Perform additional duties as assigned.
- Occasionally, high-performing employees may be requested to engage in overtime based on recent evaluations and productivity metrics.
Essential Qualifications
- High school diploma is mandatory.
- A minimum of 3 years of experience in collections, with at least 1 year in patient collections, insurance verification, or government medical programs, or 1 year of relevant DME experience.
- Proven expertise in collections and negotiation.
- Strong command of medical terminology.
- Ability to comprehend reimbursement issues and Medicare guidelines.
- Bilingual skills (Spanish/English) are advantageous but not required.
- Coloplast employees are expected to uphold the highest ethical and professional standards, adhering to applicable laws and regulations, as well as company policies.
Coloplast is committed to providing a diverse and inclusive workplace, ensuring equal employment opportunities for all individuals based on their qualifications and merits.
