Philips · 2 days ago
Collections Specialist (Revenue Cycle)
Chicago, IL
Full-time
Onsite
Entry, Mid Level
$23/hr - $37/hr
2+ years expPhilips is a health technology company committed to improving access to quality healthcare. They are seeking a Collections Specialist to work with insurance payers to resolve claims and denials, ensuring timely claim payments and developing systems to address issues.
B2BConsumer ElectronicsElectronicsLightingWellness
No H1B
Responsibilities
Working with various commercial insurnace payers to resolve claims and denials
Escalating payor issue trends for leaderships consideration along with possible solutions
Providing daily follow-up on insurance correspondence to ensure claim payments are made in a timely manner
Developing and maintaining updates for any problematic payers and assisting in identifying, evaluating and developing systems /procedures to address issues
Determining patient eligibility along with basic benefit verification (qualifying diagnoses, prior testing and authorization requirements) and reading eligibility of benefits, to determine claim processing by insurance carriers
Qualification
Required
2+ years of experience in Revenue Cycle Management, specifically within Collections or Reimbursement Services
High school diploma or GED
Ability to successfully perform the following minimum Physical, Cognitive and Environmental job requirements with or without accommodation
Strong verbal communicator with both internal/external partners
Preferred
Experience with denial management, claim follow up, overturning denials and identifying payer issue trends
Knowledge of insurance payers, including Medicare, Medicaid, Blue Cross Blue Shield and commercial plans
Ability to navigate through various systems to pull information
Experience with Soarian
Benefits
Generous PTO
401k (up to 7% match)
HSA (with company contribution)
Stock purchase plan
Education reimbursement
Company
Philips
Philips is a technology company that operates in various fields, including healthcare, consumer electronics, lighting, and home appliances.
10001+ employees
Funding
Current Stage
Public CompanyTotal Funding
$4.23BKey Investors
EXOR N.V.Bill & Melinda Gates FoundationInnovative Health Initiative
2025-03-19Post Ipo Equity
2024-05-23Post Ipo Debt· $756.82M
2023-11-07Grant· $44.6M
Leadership Team
Neil Mesher
CEO and SVP, UK and Ireland
Recent News
2026-01-06
2025-12-19
Company data provided by crunchbase