Collections Specialist

Overview

Versiti is a fusion of donors, scientific curiosity, and precision medicine that recognize the gifts of blood and life are precious. We are home to the world-renowned Blood Research Institute, we enable life saving gifts from our donors, and provide the science behind the medicine through our diagnostic laboratories. Versiti brings together outstanding minds with unparalleled experience in transfusion medicine, transplantation, stem cells and cellular therapies, oncology and genomics, diagnostic lab services, and medical and scientific expertise. This combination of skill and knowledge results in improved patient outcomes, higher quality services and reduced cost of care for hospitals, blood centers, hospital systems, research and educational institutions, and other health care providers. At Versiti, we are passionate about improving the lives of patients and helping our healthcare partners thrive.

Position Summary

The Collections Specialist is responsible for processing of accounts receivable transactions using multiple integrated software through all phases of customer maintenance, collection of customer account balances, processing cash receipts, preparing customer account reconciliations and customer service. The Collections Specialist is responsible for resolving overdue bills and collecting payment from customers.

Total Rewards Package

BenefitsVersiti provides a comprehensive benefits package based on your job classification. Full-time regular employes are eligible for Medical, Dental, and Vision Plans, Paid Time Off (PTO) and Holidays, Short- and Long-term disability, life insurance, 7% match dollar for dollar 401(k), voluntary programs, discount programs, others.

Responsibilities

• Compiles, reconciles, and processes transactions using computerized accounting software, including maintaining customers, updating service codes and price tables, adjusting billing statistics, entering accounts receivable transactions (cash application, adjustments, liquidations, match-offs, write-offs, prepayments) and documenting notes and follow up activities.
• Monitor accounts daily and actively pursue collection on assigned accounts greater than 60 days past due and achieve assigned collection metrics on reducing past due balances.
• Contact customers via phone, email or mail to address overdue payments and determine the reason for the outstanding invoice balances.
• Resolve outstanding customer invoice issues.
• Investigate historical payment data for customers and invoices.
• Initiate collection calls in a professional effective manner improving customer relations.
• Identify and resolve recurring payment problems while establishing and maintaining effective and cooperative working relationships with the sales department and other internal staff.
• Work closely with the customer service staff within each service line to maintain accurate and updated information on customer accounts and work collaboratively to resolve invoice discrepancies and payments outstanding.
• Provide exceptional customer service regarding collection issues, processing of customer credits / refunds, account adjustments, resolving customer discrepancies and short payments.
• Develop effective repayment plans.
• Summarize, analyze, and trend open receivable balances including keeping record of the amount owed and the length of the delinquency.
• Calculate, reconcile, and process cash receipts. Investigate and resolve cash discrepancies timely.
• Manage the Corporate Accounts Receivable email inbox and voicemail daily. Responsible to respond to customer and internal requests timely.
• Complete month-end, quarter-end, and year-end accounts receivable activities and ensure financial reporting and audit deadlines are met; analyze and prepare reports, schedules, graphs, statistics, and other management summaries.
• Identify and implement improvements for customer invoice delivery and contact information.
• Develops and maintains a network of information about current accounts receivable practices and works with others to implement selected projects.
• Maintains an updated and approved written procedure manual for all assignments.
• Collaborates with internal and external customers regularly to discuss customer service issues and surveys customers to identify improvements.
• Provides suggestions into the development, and modification of customer collections and other accounting tasks. Provides input into the creation of implementation project plans.
• Performs other duties as assigned
• Complies with all policies and standards

Qualifications

Education

• Associate's Degree preferably in accounting or finance preferred

Experience

• 1-3 years experience working with a large customer base, performing comprehensive accounts receivable and corporate collections. required

Knowledge, Skills and Abilities

• Strong understanding of billing and collection policies and processes. required
• Excellent communication, problem-solving and analytical skills required. required
• Ability to perform customer account collection activities using phone and email collection processes. required
• Detail oriented with strong analytical skills, including math aptitude, and the ability to locate and reconcile amount differences to ensure the accuracy of detail and summary data. required
• Self-disciplined and capable of identifying and completing critical tasks independently and with a sense of urgency. required
• Outstanding communication and interpersonal skills required

Tools and Technology

• Experience with an integrated finance and accounting system. required
• Strong working knowledge of spreadsheet, word processing, and other PC applications, including creation, use and improvements of documents, graphs and other reports. required

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