Job Description for Collection Senior Associate at Manipal Hospitals:
The Collection Senior Associate will play a vital role in the healthcare revenue cycle by ensuring effective and timely collection of payments from patients and insurance companies. The ideal candidate will be responsible for managing accounts receivable, resolving billing discrepancies, and communicating with patients and payers to facilitate the collection process.
Key Responsibilities:
Monitor and manage the collection of accounts receivable to ensure timely payment.
Review patient accounts and billing information for accuracy and completeness.
Communicate with patients regarding outstanding balances and payment options.
Work closely with insurance companies to resolve claims issues and expedite payments.
Maintain detailed records of all collections activities and communication.
Conduct follow-ups on overdue accounts and negotiate payment arrangements.
Collaborate with the billing department to ensure alignment in collection strategies.
Prepare and present reports on collection performance and outstanding receivables.
Assist in developing and implementing collection policies and procedures.
Skills and Qualifications:
Bachelor?s degree in finance, business administration, or a related field.
Proven experience in collections, preferably in the healthcare industry.
Solid understanding of medical billing and insurance processes.
Excellent communication and interpersonal skills.
Detail-oriented with robust organizational and analytical abilities.
Proficient in using MS Office Suite (Excel, Word, PowerPoint) and billing software.
Ability to work independently as well as part of a team.
Tools Required:
Healthcare billing and collections software (specific tools may vary).
Microsoft Excel for data analysis and reporting.
Customer Relationship Management (CRM) systems for tracking patient interactions.
Communication tools for effective interaction with patients and insurance companies.