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 Apply Job! Apply tot his job Apply To this Job