Working primarily in the healthcare industry, billing specialists perform many duties akin to handling the billing demands of a hospital or a healthcare facility.
They work closely with medical insurance companies by submitting insurance claims and ensuring that claims are paid on time.
Additionally, they work with patients to determine their financial statuses and create appropriate payment plans.
The job of billing specialists includes accounting tasks, but it is highly administrative.
They follow up on delinquent accounts to ensure that payments are made on time, prepare information for collection agencies, submit and resubmit claims, and process payments from insurance companies.
While the minimum qualification standards for a billing specialist is a high school diploma or a GED, many employers prefer to hire people with a bachelor’s degree in accounting as it helps immensely with everyday work.
Educational background is not all that is needed to be successful in attaining a billing specialist position.
A person who has had some experience in the billing department of a healthcare facility will be preferred over an inexperienced one.
Related: Billing Specialist Cover Letter
Some qualifications that prospective employers look for when hiring billing specialists include:
Sample Qualifications for Billing Specialist Resume
- In-depth knowledge of verifying billing accounts and verifying and correcting discrepancies.
- Strong background in facilitating prompt payments of invoices.
- Hands-on experience in generating financial statements and reports to detail the status of accounts receivables.
- Proficient in soliciting payments from delinquent accounts by employing workable follow-up procedures.
- Considerable knowledge of evaluating patients’ financial statuses and designing appropriate budget plans.
- Functional know-how of reconciliation of clients’ accounts on a periodic basis.
- Well versed in handling complex billing structures.
- Proven ability to interpret billing data and use it to make cost-effective decisions.
- Familiar with popular accounting software such as Deltek.
- Working knowledge of ICD-9, CPT, and HCPCS.
- A sound knowledge base of medical terminology and its usage in billing terms.
- Demonstrated ability to work in a dynamic billing environment prone to detail orientation.
- Capable of handling billing discrepancies in accordance with the rules and regulations of the organization.
- Comprehensive understanding of the protocols governing medical billing procedures.
- Able to build and maintain rapport with patients and insurance company personnel.
- Substantial knowledge of Medicare and Medicaid policies.
- Keen know-how of medical billing and collection practices.
- Particularly effective in third-party operating systems and basic medical coding procedures.