Reimbursement Specialist

Socket.dev; Park Ridge (IL); On-site; USD 52,000 - 76,000; Full time

Benefits offered by this job

Medical, dental, vision insurance

401k with company match

Paid holidays & PTO

Wellness program

HSA & FSA accounts

Job summary

Illinois Bone and Joint Institute, LLC is seeking a Revenue Reimbursement Specialist to optimize insurance collections, reduce outstanding balances, and maintain accounts receivable. The role focuses on maximizing reimbursement while minimizing time to payment, and aims to sustain a healthy AR and modest DSO.

You will interact with payors, review denials, and perform audits; contribute to compliance and accuracy across billing processes.

Qualifications

• High School Graduate required.
• Minimum 2 years' experience in Healthcare Revenue Cycle.
• Certified Coder preferred, but not required.

Responsibilities

• Communicate directly with the payor, resubmits denied claims, underpaid claims and claims that are inaccurately processed by auditing accounts to check on proper payments, coding, balances, adjustments, etc.
• Review and analyze claim denials in order to perform the appropriate appeals necessary for reimbursement.
• Manage outstanding accounts receivable for assigned payers/Divisions. Resolve outstanding balances.
• Follow up on outstanding accounts receivables, 31-60 days, 61-90 days. Includes researching aged account reports, outstanding 'list', processing problematic EOB's and/or incoming mail or correspondence as identified.
• Identify errors, correct and communicate to management.
• Adheres to organizational policies and procedures, including Corporate Compliance Program, HIPAA regulations.
• Conduct random audits to verify system integrity, payer accuracy and payment per contract, to optimize reimbursement functions.
• Other duties as assigned.
• Focus may be on claims or charges not paid at the correct contract rate.
• Maintain a clean and safe work environment.

Skills

Problem solving

Communication

Detail oriented

Education

High School Graduate

Job description

Description

Organizational Profile

Founded in 1991, IBJI is the largest orthopedic group practice in Illinois. With more than 150 physicians in every orthopedic specialty, IBJI offers care for adults and children from some of the most accomplished and respected orthopedists in the country. Serving northern Illinois and northwest Indiana with over 100 locations, IBJI makes it easy to access care. Our headquarters is in Park Ridge, Illinois, a northwest suburb of Chicago.

Our clinical services include advanced MRI imaging, pain management, non-surgical and surgical treatment plans, rheumatology, physical therapy, occupational therapy, wellness, and sports and sports training. Ortho Access walk-in clinics provide same day care for orthopedic injuries. Comprehensive care offered all in one place enables physicians, therapists and staff to work closely together, so that patients and families achieve better outcomes. Collaborative care is also more efficient. In many cases, IBJI services are substantially less expensive than those provided by large healthcare systems and emergency rooms.

Job Title: Reimbursement Specialist

Job Description

Summary

The Revenue Reimbursement Specialist works to ensure that we are optimizing insurance collections, reducing outstanding balances, and maintaining the accounts receivables. Revenue Reimbursement Specialists will maximize reimbursement for all services while minimizing the amount of time it takes to obtain reimbursement; decrease AR sustain a low DSO.

Responsibilities

• Communicate directly with the payor, resubmits denied claims, underpaid claims and claims that are inaccurately processed by auditing accounts to check on proper payments, coding, balances, adjustments, etc. using appropriate reports and queues
• Review and analyze claim denials in order to perform the appropriate appeals necessary for reimbursement
• Manage outstanding accounts receivable for assigned payers/Divisions. Resolve outstanding balances
• Follow up on outstanding accounts receivables, 31-60 days, 61-90 days. Includes researching aged account reports, outstanding "list", processing problematic EOB's and/or incoming mail or correspondence as identified. Special projects on 90+ days detailing problematic accounts and reporting them to the supervisor
• Identify errors, correct and communicate to management
• Adheres to organizational policies and procedures, including Corporate Compliance Program, HIPAA regulations

Additional Responsibilities

• Conduct random audits to verify system integrity, payer accuracy and payment per contract, to optimize reimbursement functions
• Other duties as assigned
• Focus may be on claims or charges not paid at the correct contract rate
• Maintain a clean and safe work environment

Requirements

Education

• High School Graduate

Certifications/Licensure

• Minimum 2 years' experience in Healthcare Revenue Cycle
• Certified Coder preferred, but not required

Experience

• Minimum 2 years' experience in Healthcare Revenue Cycle

Technical Skills

• Knowledge of Federal, State and third-party payor reimbursement rules and regulations
• Accounts Receivable knowledge: ability to read, analyze and interpret EOB's and other AR procedures
• Knowledge of Medicare, Medicaid, HMO/PPO/EPO, Work Comp and Commercial Insurance operating procedures

Soft Skills

• Strong problem-solving skills and the ability to make timely decisions
• Ability to effectively correspond and interact with insurance payers, co-workers, management both verbally and in writing
• Detail Oriented with organizational and problem-solving skills

Physical Requirements

• Stand or sit for extended periods of time

This description is intended to provide only basic guidelines for meeting job requirements. Duties and responsibilities, experience, qualifications, skills, supervisory relationship, physical/mental demands, and environmental/ working conditions may change as needs evolve.

Base salary offers for this position may vary based on factors such as location, skills and relevant experience.

• medical, dental, vision, life and AD&D insurance, long and short term disability, 401k program with company match and profit sharing, wellness program, health savings accounts, flexible savings accounts, ID protection plan and accident, critical illness and hospital benefits.
• In addition, we offer paid holidays and paid time off.

Illinois Bone and Joint Institute, LLC is an equal opportunity employer. All employment decisions are based on qualifications, merit, and business need, without regard to race, color, religion, age, sex, national origin, disability status, military or veteran status, sexual orientation, gender identity and expression, or any other characteristic protected by federal, state or local laws. This policy applies to recruitment and placement, promotion, training, transfer, retention, rate of pay and all other terms and conditions of employment.