Credit Collections - Subject Matter Expert
Credit Collections - Subject Matter Expert
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Job Description
At Medtronic you can begin a life-long career of exploration and innovation while helping champion healthcare access and equity for all. Youll lead with purpose breaking down barriers to innovation in a more connected compassionate world.
A Day in the Life
Medtronic is expanding their footprint for Diabetes Care with a center in Pune and as the Credit Collections Subject Matter Expert for Patient Financial Services India this role is responsible for all aspects of billing credit and collection activities including customer service with an objective of maximizing cash flow and keeping DSO to a minimum within Patient Financial Services.The Diabetes Operating Unitfocuses on improving the lives of those within the global diabetes a business we strive to empower people with diabetes to live life on their terms by delivering innovation that truly matters and providing support in the ways they need it.
Our portfolio of innovative solutions is designed to provide customers greater freedom and better health helping them achieve better glucose control while spending less time managing their disease.
Responsibilities may include the following and other duties may be assigned:
As a Credit Collections SME for Patient Financial Services the role involves performing a variety of tasks using standard healthcare guidelines. Main objective is followed up collection activities including rebilling appeals and recovery activities for denied or short paid claim
Executes on established departmental objectives and assignments which affect the immediate operation but that also have full revenue cycle and company-wide fiscal impact.
Initiates follow-up activities with third-party payors regarding open claim balances; makes written and verbal inquiries to payors.
Analyzes and problem solve account issues to full resolution.
Manages internal and external customer/business inquiries regarding account status and account history.
Research issues off-line as needed with payor/patient; conducts follow-up calls with payors and customers initiating conference calls between insurance carrier and patients to resolve customer concerns.
Research and initiates refund requests due to overpayments by payor and/or patient.
Determines when claims/accounts are deemed uncollectable; recommends and initiates bad debt write-offs procedures.
May reconcile records with PFS team members and leaders; communicates with external vendors and customers (including representatives of health plans/payors.)
Required Knowledge and Experience:
Bachelors degree on business or Accounting major is preferred.
4 to 6 years of Insurance Collections experience in a US healthcare environment.
Demonstrated ability to prioritize work managing daily and multiple tasks to completion within the time allotted.
Ability to prepare forms spreadsheets and graphs.
Experience in a payor or medical provider community that deals with all aspects of the revenue cycle.
Experience with reviewing and analyzing insurance payments and/or payer adjudication claims against contract terms and patient coverage and benefits.
Experience reading and understanding the information provided on EOBs remittance advices and other insurance correspondence and in calculating patient responsibility taking into consideration coverage and benefits including referral authorization and/or pre-determination requirements and contract terms.
Experience with various insurance plans offered by both government and commercial insurances (i.e. PPO HMO EPO POS Medicare Medicaid HRAs) and coordination of healthcare benefits including requirements for referral authorization and pre-determination.
Experience with medical billing and collections terminology CPT HCPCS and ICD-10 coding.
Experience with HIPAA guidelines and healthcare compliance.
Previous experience in receiving and making outbound calls to patients to explain insurance benefits related to health insurance and/or discussing patient financial responsibilities.
Physical Job Requirements
The above statements are intended to describe the general nature and level of work being performed by employees assigned to this position but they are not an exhaustive list of all the required responsibilities and skills of this position.
Benefits & Compensation
Medtronic offers a competitive Salary and flexible Benefits Package
A commitment to our employees lives at the core of our values. We recognize their contributions. They share in the success they help to create. We offer a wide range of benefits resources and competitive compensation plans designed to support you at every career and life stage.
About Medtronic
We lead global healthcare technology and boldly attack the most challenging health problems facing humanity by searching out and finding solutions.
Our Mission to alleviate pain restore health and extend life unites a global team of 95000 passionate people.
We are engineers at heart putting ambitious ideas to work to generate real solutions for real people. From the R&D lab to the factory floor to the conference room every one of us experiments creates builds improves and solves. We have the talent diverse perspectives and guts to engineer the extraordinary.
Learn more about our business mission and our commitment to diversity here
Employment Type
Full-Time
