Collections Specialist Job Description
Collections specialist
provides leadership, oversight and acts as a resource for community team members to the RAI process, the Medicare program, Medicaid programs, and Managed Care or Commercial Insurance programs.
Collections Specialist Duties & Responsibilities
To write an effective collections specialist job description, begin by listing detailed duties, responsibilities and expectations. We have included collections specialist job description templates that you can modify and use.
Sample responsibilities for this position include:
When new advertising client enters program, contact client to facilitate payment process
If portfolio includes foreign airports, responsible to review bank statements to confirm new payments have been deposited
Submit customer refunds for review
Resolve client discrepancies and delinquent payments
Monitor and maintain assigned accounts via outbound and inbound customer calls, proper follow up and processing payments
Enlist the efforts of management when necessary to accelerate the collection process
Research and analyze all relevant aspects of assigned collection accounts to determine the appropriate approach and steps to be taken to effect collection of delinquent premium
Participate in team goal and strategy meetings
Research and verification of concert / radio festival dates on artists’ social media industry related websites
Consolidation and organization of these dates the organization of payment info, amounts
Collections Specialist Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Collections Specialist
List any licenses or certifications required by the position: ACA, OJT, DOT, CRCR, CPR, WHT, RPM, MPM, CAPS, CAM
Education for Collections Specialist
Typically a job would require a certain level of education.
Employers hiring for the collections specialist job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Associate Degree in Accounting, Associates, Finance, Education, Business, Business/Administration, Healthcare, Administration, Economics, Communication
Skills for Collections Specialist
Desired skills for collections specialist include:
Medicare
Medicaid
Managed care payers and medical terminology
Excel
HMO/PPO
Commercial
Basic medical terminology
Tricare insurance operating procedures and contracts
Microsoft Office
Billing and Collections procedures
Desired experience for collections specialist includes:
Must be a fast learner as they will need to quickly grasp important aspects of the business, such as from which artists we receive participation the percentages / amounts
Minimum 1 years' experience in a similar role is required
You must have a level of stress tolerance
You must have prior customer service skills
Ability to work between the hours of operation ( 8am-8pm EST )
B2B collections
Collections Specialist Examples
1
Collections Specialist Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of collections specialist. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for collections specialist
- Prepare adjustments/corrections to Commercial Bills
- Reconciliations of receivables
- Complete required payments accurately and timely for condo arrears, delinquent taxes and property insurance
- The working environment is deadline-driven and requires the ability to work in both a team structure independently
- Initial role is making ‘right-party contacts’, verifying vital information
- Eligible for monthly incentive (bonus on top of base pay)
- Update weekly and/or monthly collections reports as needed -Analyze and recommend resolution for disputed issues with clients, set up payment terms, and administer stop work program
- Build and maintain relationships with Partner’s, CSC’s and Finance Management for additional assistance with more complex collection situations
- Work with the outside collection agency as needed
- Provide statements and invoices to customers, as required
Qualifications for collections specialist
- Handle special projects as directed by the Credit & Collection Management
- Follow up on payment denials and underpayments on patients accounts, working with payors to ensure that all claims have been processed correctly and have been applied to the appropriate accounts
- Monitor the collections process to ensure that any adjustments and write-offs have been documented and recorded on patient accounts
- Business to Business collection experience
- Review aging of assigned portfolio of approximately 800 accounts with credit limits < $25k
- Notify sales of delinquent accounts and any actions being taken
2
Collections Specialist Job Description
Job Description Example
Our company is growing rapidly and is hiring for a collections specialist. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for collections specialist
- Handle calls in a timely and efficient manner while following established credit procedures
- Stay within acceptable performance standards and quality goals
- Responsible for managing an account portfolio and assisting in account reconciliation for the collection of all monies due from customers
- Initiates the review, research and resolution of receivables
- Works collaboratively with Cash Applications, Dispute Management and Special Handling to resolve unpaid cash and non-payment issues customer-related disputes
- Maintains quality relationships with branch managers, account managers and area sales managers
- Responsible for managing aged accounts receivable including, contacting customers to collect delinquent invoices and taking appropriate action to resolve underlying issues
- Respond to customer and sales representative's inquires related to accounts receivable balances and invoices
- Provide management with information on credit issues related to notification of bankruptcy and bad debt issues
- Provide management with recommendations on accounts to be sent to collections in written narrative summary, detailing the account and collection history and including copies of all needed documentation
Qualifications for collections specialist
- Must be comfortable with a high volume of outbound phone calls
- Must have high energy and perseverance, while remaining professional on all customer interactions
- Must have steady employment and be seeking a long term position
- Minimum 1 year experience in a consultative client facing environment
- Minimum of 2 years previous high volume collections experienced required
- Advanced organizational skills a must
3
Collections Specialist Job Description
Job Description Example
Our company is searching for experienced candidates for the position of collections specialist. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for collections specialist
- Assist with cash applications, credit management review, and customer service
- Review and process new credit applications and verify information before submitting for review/approval
- Collaborate with Sales team with any discrepancies and incomplete documentation
- Manage and maintain AR Aging, monitoring accounts and escalating any issues
- Manage outbound/inbound calls and messages from individual voicemail box
- Conducts systematic review of all aging accounts over 30 days, and locates and contacts clients regarding the collection of outstanding accounts
- Prints and transmits current and/or past due invoices as needed
- Contacts clients to resolve any invoice problems or discrepancies and if necessary, makes additional contact with clients and/or Project Managers for the collection of outstanding invoices
- Researches and responds to inquiries from clients regarding payment issues, and invoice inquiries
- Record information about the status of collection efforts
Qualifications for collections specialist
- Have an Associate’s Degree in Business or combination of education and relevant experience
- Have 3 years of experience in Collections or Accounts Receivable, preferably in the Insurance or Software Industry
- Be highly motivated and ambitious
- Accountable for reducing delinquency for various accounts
- When necessary, reports any unresolved disputes with customers to the CFO for resolution
- Other various accounting tasks as required
4
Collections Specialist Job Description
Job Description Example
Our innovative and growing company is looking for a collections specialist. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for collections specialist
- Make collection calls/emails and follow up to customers within a "customer focused" framework
- Analyze customer invoices to ensure contract terms and conditions are being followed
- Ability to utilize CRM (Customer Relationship Management) tool to help solve issues
- Gather credit and/or collections reference information, as required when needed
- Complete ad hoc projects and related deliverables, as assigned
- Make outbound calls to collect delinquent balances
- Work with operations, sales and management team to resolve any disputed or short paid invoices in a timely manner
- Enter notes into internal system documenting payment status of open invoices along with any other issues going on with account
- Notifying customers of delinquent accounts, email/fax/mail copies of invoices and sending statements to customers
- Work with entire department to assure consistent application of credit and collection policies and procedures
Qualifications for collections specialist
- At least two (2) years experience in accounts receivable/collections
- Must have demonstrated ability to perform basic business mathematical functions, and goal oriented
- Must effectively manage time and details
- Knowledge of accounts receivable and collections procedures
- Exceptions written and verbal communication abilities
- Experience in a real estate environment is preferred but not required
5
Collections Specialist Job Description
Job Description Example
Our company is looking for a collections specialist. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for collections specialist
- Collection of a set territory of accounts
- Assist the Cash Reconciliation Specialist with the A.R
- Contact member and establishes reason for past due account
- Take initiative to secure payment or resolve delinquent account balances
- Negotiate terms of repayment to bring accounts current
- Skip tracing to ensure optimal opportunities for account resolution
- Re-establish defaulted payment plans
- Minimize accounts written off to internal bad debt
- Minimize the number of accounts referred to third party collections agencies
- Handle high-volume inbound/outbound calls on past due high balance accounts in a dialer environment (please note balances can be upward of $10,000 - $15,000)
Qualifications for collections specialist
- 2+ years of Accounts Receivable, B2B collections experience
- Ability to multi-tasks and work well independently
- Three to five years previous collections experience within an Accounting environment (previous high-tech experience preferred)
- Experience in a multi-functional role and using multi-company accounting software package - Solomon Preferred
- Requires a 4 year college degree, preferably in Accounting, Business or equivalent experience
- Complete use and functionality of the Microsoft 2010 Office product suite