Collections Representative

Position Title: Collections Representative

Location: Corporate Office

Reports to: Manager of Administration

Position Purpose

As a Collections Representative in a pharmacy setting, your primary responsibility will be to ensure accurate and timely processing of all accounts receivable transactions related to pharmaceutical sales and services. You will play a crucial role in maintaining financial records and supporting the pharmacy's revenue cycle management. Your attention to detail, strong organizational skills, and knowledge of accounting principles will be essential in this role.

Scope of Responsibilities

Hayat Pharmacy is an innovative and compassionate company providing a variety of pharmacy services in Wisconsin. The company operates robust community-based pharmacies that offer award-winning services such as medication packaging, medication management, and free prescription delivery. Hayat Pharmacy focuses on providing opportunities for customers to achieve high quality health outcomes through access, education, and in-home consultation, and in building and maintaining strong relationships with community medical providers and other external stakeholders.

Classification

____ Exempt (salaried) __X__ Non-exempt (hourly)

Position Responsibilities

• Billing and Invoicing: Generate and process accurate invoices for pharmaceutical products and services provided to customers, including prescription medications, over-the-counter drugs, medical supplies, and other pharmacy-related charges.
• Payment Processing: Receive and record payments from customers, including cash, checks, credit card transactions, and insurance reimbursements. Verify payment information, reconcile discrepancies, and update customer accounts accordingly.
• Customer Account Management: Maintain customer accounts by updating payment information, addressing billing inquiries, resolving discrepancies, and ensuring accurate and up-to-date records of customer transactions.
• Collections: Monitor overdue accounts and implement collection procedures as necessary. Contact customers to remind them of outstanding balances, negotiate payment arrangements, and escalate unresolved issues to the appropriate parties.
• Financial Reporting: Assist in the preparation of financial reports and statements related to accounts receivable, including aging reports, revenue analysis, and collection metrics. Provide regular updates to the management team regarding accounts receivable status and performance.
• Compliance: Ensure compliance with relevant laws, regulations, and company policies related to billing, privacy, and financial transactions. Adhere to HIPAA guidelines and maintain confidentiality of patient and customer information.
• Cross-functional Collaboration: Collaborate with pharmacy staff, insurance providers, healthcare professionals, and customers to resolve billing-related issues, clarify payment details, and facilitate a smooth revenue cycle process.
• Customer Service: Communicates with patients via phone, email, and chat, providing courteous and efficient customer service. They conduct initial problem-solving assessments and escalate issues when needed. They follow company policies, respond to patient complaints, and deliver effective solutions. Their responsibilities also include resolving customer issues, answering questions, and performing assigned duties.
• Any and all other duties assigned at the discretion of your supervisor: Backup for Finance Department to include, filing, follow up on emails or calls, or any other tasks that you may be asked to assist with.

Required Qualifications

• 2-3 years of experience in accounts receivable, preferably within a pharmacy or healthcare setting.
• Associate's or Bachelor's degree in accounting, finance, or a related field is a plus.
• Familiarity with pharmacy billing systems and software (e.g., pharmacy management systems, electronic claims processing software).
• Strong knowledge of accounting principles and practices.
• Proficient in using spreadsheets, databases, and financial software for data entry, analysis, and reporting.
• Excellent attention to detail and accuracy.
• Strong organizational and time management skills.
• Good customer service skills and the ability to handle unruly patients at times is crucial.
• Effective communication and interpersonal skills for interacting with customers, colleagues, and insurance providers.
• Ability to work independently and handle multiple tasks simultaneously.
• Understanding of healthcare billing regulations and reimbursement processes is desirable.