Revenue & Recovery Specialist, Full-Time Day Shift Job at Columbia Basin Hospital
Requisition number:
22-18
Category:
Filled Positions
Department:
Business Services
Status:
Full-Time Day Shift
Schedule:
Mon-Fri 8am - 5pm
Description:
JOB SUMMARY
The Revenue & Recovery Specialist I is a key position in the Revenue Cycle, responsible to maximize the organizations cash flow by prompt and efficient collections of Accounts Receivable. Manage claims processes including accurate and timely claim creation, denial management and claim adjudication. Expected to have excellent follow up with providers and insurance companies to resolve issues, maintain aged accounts, payment posting, collections, customer service, and refunds.
DUTIES AND ESSENTIAL JOB FUNCTIONS
- Perform daily, systematic reviews of unpaid, underpaid, and denied accounts from the appropriate third-party payer source ensuring that accounts are paid and or resolved within timely filing limits.
- Identifies and analyzes insurance payments to determine the reason for discrepancies, process denials and appeals, and ensures payments received are paid per the contracts and within timely filing limits.
- Ensures appropriate information and correspondence is documented in accounts. Documenting information such as communication with the patient or payor, an explanation of payment, and denials or rebill.
- Runs reports, manages work queues daily, and resolves denials to maintain assigned patient accounts. Maintains accounts aging over 90 days to goal of 10%-15% of gross accounts receivable.
- Works credit balance work queues and reports to process refunds.
- Accurately posts patient and non-AR payments and adjustments, balances bank deposit for accounting department, and assists to ensure all cash accounts are reconciled daily.
- Reviews remittance advices to make sure the account has been properly credited.
- Works collections accounts by contacting patient for payment to set up payment plans, assist with charity applications, verify insurance eligibility, or turn accounts over to collections.
- Monitors and reviews denial reason codes to identify root causes, works with payer and other areas of the revenue cycle to resolve issues. Notes denial trends and informs Directors of findings to mitigate future claim rejections.
POSITION QUALIFICATIONS
- High school graduate or GED required.
- One-year experience in Healthcare or business-related field.
- Experience in a hospital billing position is preferred.
- Organization skills, attention to detail, and knowledge of Windows based software required.
- Must have the aptitude to retain and understand billing and collection regulations while maintaining accuracy and confidentiality.
- Must be able to balance payment posting and deposits.
- Must be able to speak, read, write, and follow oral/written instructions in English.
Closing:
Open until filled
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