Summary:
The Collections Specialist will manage the lifecycle of accounts receivable, focusing specifically on ensuring timely and accurate payment collection directly from clients. This role involves rigorous follow-ups on outstanding invoices, meticulous review of billing charges, and the issuance of invoices. The specialist will address any discrepancies directly with clients and strive to resolve payment issues efficiently to maintain healthy client relationships and cash flow.
Qualifications:
Education:
- High School Diploma or equivalent.
- BA in Business preferred.
Experience:
- 3-5 years in revenue cycle management for healthcare provider, with a strong focus on collections.
- Extensive experience as a Collection Specialist, demonstrating successful management of accounts receivable and direct client billing in a healthcare setting.
- Proven track record in reducing days sales outstanding and improving cash flow.
- Experience with laboratory Revenue Cycle Management highly desirable.
- Familiarity with billing systems and processes, capable of handling high-volume transactions.
- Demonstrated ability to negotiate and resolve payment issues effectively with clients.
- Knowledgeable in billing compliance and regulations pertinent to healthcare services billing.
Duties & Responsibilities:
- Prepare and send accurate and timely invoices to clients, ensuring all charges are documented correctly and reflect the services provided.
- Actively follow up on all accounts receivable to ensure timely payment, maintain consistent cash flow, and reduce days sales outstanding.
- Address and resolve any discrepancies in billing or payment by engaging directly with clients, facilitating swift resolution to maintain positive client relations.
- Provide comprehensive support to the Associate Director of Revenue Cycle Billing Operations, including preparing reports and participating in strategy meetings to enhance collections processes.
- Manage and respond to client requests for requisitions, ensuring all documentation is accurate and submitted promptly.
- Understand and apply the net terms agreed with each client to manage expectations and billing cycles effectively.
- Maintain a thorough knowledge of billing regulations and compliance requirements to ensure all invoicing adheres to legal and ethical standards.
- Perform other job-related duties as assigned to support the billing operations and client service goals of Baylor Genetics.
Physical Demands & Work Environment:
- Frequently required to sit.
- Frequently required to utilize hand and finger dexterity.
- Frequently required to utilize visual acuity to operate equipment, read technical information, and/or use a keyboard.
The above is intended to describe the general content and requirements for this job's performance. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.Baylor Genetics is proud to be an equal opportunity employer dedicated to building an inclusive and diverse workforce.
We do not discriminate based on race, religion, color, national origin, sex, sexual orientation, age, gender identity, veteran status, disability, genetic information, pregnancy, childbirth, or related medical conditions, or any other status protected under applicable federal, state, or local law.
