Accounts Receivable Collections Specialist- Monroeville, PA (Hybrid) at CVS Health

Monroeville, Pennsylvania, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

HealthcareIndustries

Requirements

High School Diploma or Equivalent
Experience in cash posting, reconciliation, or revenue cycle operations preferred
Familiarity with systems such as SharePoint workflows and Microsoft products
Strong analytical and problem-solving skills
Ability to work independently and manage multiple priorities
Excellent communication and documentation skills
Demonstrated verbal communication and phone etiquette
Comfortable engaging with patients and payers over the phone to resolve account issues

Responsibilities

Manage follow-up and reconciliation of prescription medication payments, focusing on resolving unapplied cash and forward balances
Investigate payment discrepancies and collaborate with internal teams
Communicate with patients, payers, and providers to ensure accurate application of funds
Conduct third-party follow-up related to prescription medication dispensing via phone, internet, and written communication
Investigate and resolve aged unapplied cash items using worklists and reconciliation tools
Identify and process forward balances (e.g., SharePoint Forward Balance forms)
Resolve issues with unapplied or recouped payments due to incomplete information, therapy changes, or pharmacy/shipping errors
Collaborate with cash posting teams to ensure accurate payment application to patient accounts and claims
Maintain chronological notes and audit trails detailing actions taken to resolve account balances
Monitor and report on unapplied cash trends and resolution metrics
Research and respond to insurance companies and government payers regarding payment discrepancies
Contact patients, physician offices, and insurance companies to expedite resolution
Escalate unresolved items or discrepancies to appropriate departments or leadership
Respond to internal inquiries related to unapplied cash and forward balances
Participate in process improvement initiatives to enhance reconciliation accuracy and efficiency

Skills

Key technologies and capabilities for this role

Accounts ReceivableCollectionsPayment ReconciliationThird-Party Follow-upSharePointCash PostingAudit TrailsInsurance ResearchPatient CommunicationPayer CommunicationAnalytical Skills

Questions & Answers

Common questions about this position

What is the work arrangement for this role?

The position is hybrid and based in Monroeville, PA.

What salary or compensation does this role offer?

This information is not specified in the job description.

What skills are required for this Accounts Receivable Collections Specialist position?

Required skills include strong analytical and problem-solving skills, ability to work independently and manage multiple priorities, excellent communication and documentation skills, and demonstrated verbal communication and phone etiquette. Familiarity with systems such as SharePoint workflows and Microsoft products is also needed.

What is the company culture like at CVS Health?

CVS Health emphasizes building a world of health with dedicated, purpose-driven colleagues who are passionate about transforming health care in a connected, convenient, and compassionate way.

What makes a strong candidate for this role?

Strong candidates will have experience in cash posting, reconciliation, or revenue cycle operations, along with preferred knowledge of credit balance resolution, payer and patient payment workflows, aged accounts, financial reporting, and insurance billing or collections experience.

CVS Health

Comprehensive pharmacy and healthcare services

About CVS Health

CVS Health operates a large network of retail pharmacies and walk-in medical clinics across the United States, providing a variety of health-related products and services. Their offerings include prescription medications, over-the-counter health products, and beauty items, as well as pharmacy benefits management and specialty pharmacy services. CVS Health's integrated business model allows them to serve individual consumers, businesses, and communities effectively, with a focus on improving health outcomes and reducing healthcare costs. Unlike many competitors, CVS Health combines pharmacy services with medical care, making it easier for patients to access quality healthcare. The company's goal is to enhance access to healthcare and support individuals in achieving better health.

Woonsocket, Rhode IslandHeadquarters

1963Year Founded

DEBTCompany Stage

Healthcare, Consumer GoodsIndustries

10,001+Employees

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

401(k) Retirement Plan

Company Equity

Wellness Program

Professional Development Budget

Paid Vacation

Paid Holidays

Risks

Legal challenges related to opioid prescriptions could harm CVS's reputation and finances.

The DOJ's intervention in a whistleblower lawsuit may increase legal costs for CVS.

The Horizon Organic Milk recall exposes potential vulnerabilities in CVS's supply chain.

Differentiation

CVS Health operates over 9,600 retail pharmacies and 1,100 walk-in clinics nationwide.

The company integrates pharmacy benefits management with specialty pharmacy services for comprehensive care.

CVS Health offers tailored medication plans through personalized medicine and pharmacogenomics.

Upsides

Expansion of telehealth services allows CVS to reach more patients remotely.

Increased consumer interest in wellness boosts demand for CVS's health-related products.

The trend towards value-based care aligns with CVS's integrated healthcare approach.

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