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Description
The Insurance Specialist/Receivable is responsible for –maintaining current insurance practices, requirements, and forms; verifying proper reimbursement is received for services provided; processing and following up insurance claims; documenting and coding information, interpreting medical records and analyzing, recording, and reconciling accounts receivable transactions
Essential Duties and Responsibilities:
Primary duties:
· Reviews and analyzes discrepancy reports and other information concerning payments received for various types of insurance or benefits programs.
· Bill procedures within two days of service
· Determines cause of discrepancies resulting from payments made through electronic transfers or other methods; researches appropriate records or documents as needed to verify payments due and identify any changes in enrollment or status.
· Notifies insurance/benefit coordinators, policyholders, members, or others, as needed, concerning actions required to correct discrepancies, adjust accounts, or other requirements.
· Prepare statements and other documents; initiates action for payment of patient refunds; review and process claims for reimbursement
· Records accounts receivable transactions and benefit eligibility and creates billing records.
· Review patient accounts and determine appropriate billing distributions.
· Posting payments received directly from policyholders and insurance companies.
· Responding to inquiries concerning policies and procedures
· Review and follow up on past-due accounts
· Verify Insurance breakdown accordingly
· Enter data in the document center and attach it to the patient file updating the billing type.
Expectations:
Insurance Specialist is expected to manage the entire process in an efficient way, resulting in maximizing insurance collections and minimizing write-offs. Performing daily audits and corrections to ensure claims are not held up in the clearing house and responding to denied or underpaid claims. Resubmitting claims with the additional requested information within three days and sending invoices on monthly bases. Maintain accounts receivables up to date with no more than 90 days past due
Full Time
$53k-68k (estimate)
03/01/2023
05/12/2024
The job skills required for Insurance Specialist include Billing, etc. Having related job skills and expertise will give you an advantage when applying to be an Insurance Specialist. That makes you unique and can impact how much salary you can get paid. Below are job openings related to skills required by Insurance Specialist. Select any job title you are interested in and start to search job requirements.
The following is the career advancement route for Insurance Specialist positions, which can be used as a reference in future career path planning. As an Insurance Specialist, it can be promoted into senior positions as an Enrollment & Billing Supervisor that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Insurance Specialist. You can explore the career advancement for an Insurance Specialist below and select your interested title to get hiring information.
If you are interested in becoming an Insurance Specialist, you need to understand the job requirements and the detailed related responsibilities. Of course, a good educational background and an applicable major will also help in job hunting. Below are some tips on how to become an Insurance Specialist for your reference.
Step 1: Understand the job description and responsibilities of an Accountant.
Quotes from people on Insurance Specialist job description and responsibilities
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Step 2: Knowing the best tips for becoming an Accountant can help you explore the needs of the position and prepare for the job-related knowledge well ahead of time.
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Understand the General Requirements.
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Step 3: View the best colleges and universities for Insurance Specialist.