Credit - Collections Clerk (i)

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 LifeCareers That Change LivesAs a key member of the Patient Financial Services PFS team 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 The Insurance Collection role follows prescribed procedures and procedures performs a variety of tasks using standard healthcare guidelines Main objective is follow up collection activities including rebilling appeals and recovery activities for denied or short paid claims Verifies accuracy of statements patient and payor related as well as other healthcare financial accounting documentation or records Enters data into computer systems using defined computer resources and programs Compiles data and prepares a variety of reports May reconcile records with PFS team members and leaders communicates with external vendors and customers including representatives of health plans payors Recommends actions to resolve discrepancies investigates questionable data A Day in the LifeWere a mission-driven leader in medical technology and solutions with a legacy of integrity and innovation join our new Minimed India Hub as Collection Clerk We are working to improve how healthcare addresses the needs of more people in more ways and in more places around the world As a company we can accelerate and advance our ability to create meaningful innovations - but we will only succeed with the right people in our teams This is the ideal opportunity to join us and be part of our commitment to the health of others Whatever your specialty or ambition is you can make a difference at Medtronic - both in the lives of others and in your career Responsibilities may include the following and other duties may be assigned 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 Required Knowledge and Experience Bachelors degree Business or Accounting major is preferred 1 to 2 years of insurance collections experience Level 1 - 2 years in a US healthcare environment Good to Have 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 RequirementsThe 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 CompensationMedtronic 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 This position is eligible for a short-term incentive called the Medtronic Incentive Plan MIP About MedtronicWe 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 90 000 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