Collection Specialist - Hospital - Fully Remote

Job Summary:
The Collection Specialist is responsible for managing the collection of outstanding accounts for a hospital or healthcare facility. This role involves working directly with patients, insurance companies, and other third-party payers to resolve payment issues, verify insurance information, and ensure that payments are collected in a timely and efficient manner. The Collection Specialist ensures that all billing and collection procedures comply with hospital policies, relevant healthcare regulations, and industry standards.

Key Responsibilities: • Account Management: • Monitor and manage overdue accounts by reviewing patient billing records and ensuring that all charges are accurate. • Follow up with patients, insurance companies, and other third-party payers to resolve outstanding balances. • Maintain and update patient information in the billing system. • Communication and Negotiation: • Contact patients via phone, email, or mail to remind them of outstanding bills and assist with payment arrangements. • Work with insurance companies to verify claims and resolve discrepancies. • Negotiate payment plans with patients as needed, ensuring terms are manageable and consistent with hospital policies. • Dispute Resolution: • Address billing inquiries and resolve any disputes related to charges or payments. • Work with the billing and coding departments to ensure the accuracy of medical charges and coding issues. • Documentation and Reporting: • Accurately document all communication with patients and payers in the hospital's billing system. • Prepare regular reports on collection status, payment progress, and outstanding balances for management. • Compliance and Best Practices: • Ensure all collection efforts are compliant with applicable healthcare regulations, including HIPAA and other privacy laws. • Follow hospital policies and industry best practices for patient billing and collections. • Collaboration: • Collaborate with other departments, including billing, coding, and finance, to streamline the collection process and resolve issues quickly. • Work closely with the financial team to assess financial hardships and provide appropriate solutions.

Qualifications: • High school diploma or equivalent; Associate’s or Bachelor’s degree in Finance, Healthcare Administration, or a related field preferred. • Prior experience in medical billing, collections, or healthcare finance. • Strong understanding of insurance processes, medical billing codes, and healthcare payment systems. • Proficiency in using billing software and Microsoft Office Suite (Excel, Word, etc.). • Excellent communication, negotiation, and interpersonal skills. • Strong problem-solving skills and attention to detail. • Ability to maintain patient confidentiality and handle sensitive information responsibly.

Job Type: Full-time

Benefits:
• 401(k)
• 401(k) matching
• Dental insurance
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Paid training
• Tuition reimbursement
• Vision insurance
• Work from home

Work Location: Remote

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