About This Role
The Collections Specialist manages accounts receivable, conducts debt collection negotiations, and ensures compliance with industry regulations. This role optimizes revenue cycle management while maintaining excellent customer service standards, offering an opportunity to develop expertise in financial concepts, financial regulations, and account analysis within a fast-paced environment.
Responsibilities
- Manage collections accounts by contacting clients via phone, email, and written correspondence to secure payments and resolve outstanding balances
- Collect payments on current and past due accounts, reducing delinquency rates through persistent outreach and negotiation
- Handle steady outbound calls while managing inbound inquiries, optimizing workflow and maintaining high productivity in a fast-paced environment
- Conduct account reconciliation and analyze account data using Excel and accounting software to identify delinquent accounts and prioritize collection efforts
- Negotiate debt repayment plans with customers while adhering to consumer protection laws and financial regulatory compliance standards
- Maintain accurate records of all client interactions, payment arrangements, and account statuses in accordance with confidentiality policies
- Collaborate with accounts payable teams to resolve discrepancies related to billing or payments and facilitate smooth revenue cycle management
- Utilize telemarketing skills to follow up on overdue accounts, ensuring timely resolution while providing exceptional customer service
- Stay informed about industry knowledge of financial regulations and industry best practices related to debt collection, accounts receivable, and financial compliance
Requirements
- Proven experience in medical collection, accounts receivable, or debt collection negotiation within a healthcare or financial services setting
- Strong proficiency in Microsoft Office applications, especially Excel for data analysis and account tracking
- Familiarity with accounting software and financial software platforms used for account reconciliation and revenue cycle management
- Excellent phone etiquette with the ability to handle sensitive conversations professionally while maintaining positive client relationships
- Knowledge of consumer protection laws, financial concepts, and industry regulations impacting debt collection practices
- Demonstrated ability to analyze financial data, perform math calculations accurately, and interpret complex account information
- Prior experience handling confidential information with integrity and ensuring compliance with all relevant financial regulatory standards
Important Details
- Schedule: 40.0 hours per week