Hourly wage for Payment Recovery Specialist

	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
75th Percentile	$66,907	$5,576	$1,287	$32
Average	$61,057	$5,088	$1,174	$29
25th Percentile	$55,778	$4,648	$1,073	$27

	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
75th Percentile	$66,907	$5,576	$1,287	$32
Average	$61,057	$5,088	$1,174	$29
25th Percentile	$55,778	$4,648	$1,073	$27

Levels	Salary
Entry Level Payment Recovery Specialist	$59,324
Intermediate Level Payment Recovery Specialist	$59,481
Senior Level Payment Recovery Specialist	$60,112
Specialist Level Payment Recovery Specialist	$61,057
Expert Level Payment Recovery Specialist	$62,978

Year	Average Annual Salary
2020	View More
2021	View More
2022	View More
2023	$81,122
2024	$78,331
2025	$77,134
2026	View More

Degree Level	% of user with this level of education
High School	48.6%
Associates	16.2%
Bachelors	30.5%
Masters	2.9%
Doctorate	1.9%

FAQ about Payment Recovery Specialist

1. What are the responsibilities of Payment Recovery Specialist?

Responsible for analysis of denied reimbursement claims. Ensures appropriate insurance coverage for compliance standards and revenue generation. Monitors, evaluates, and reviews all cost reporting in support of claims. Coordinates with departments and insurance companies to correct errors as necessary. Requires a bachelor's degree in area of specialty. Typically reports to a supervisor or manager. Typically requires 4 to 7 years of related experience. Contributes to moderately complex aspects of a project. Work is generally independent and collaborative in nature.

2. What are the skills of Payment Recovery Specialist

Specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

1.)

Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.

2.)

Project Planning: Project planning is part of project management, which relates to the use of schedules such as Gantt charts to plan and subsequently report progress within the project environment. Project planning can be done manually or by the use of project management software.

3.)

Accounting Systems: An accounting system is a system that is employed in a company to organize financial information. It can be either manual or computerized.

See More Skills

Entry Level	3%
Mid Level	3%
Senior Level	2%
Top Level	0%
Experienced	3%

Core Compensation
Core Compensation	Median	% of Total
Base Salary	$61,057	70.7%
Bonus	$0	0.0%
Value of Benefits
Core Compensation	Median	% of Total
Social Security	$4,671	5.4%
401K/403B	$2,992	3.5%
Disability	$977	1.1%
Healthcare	$6,371	7.4%
Pension	$2,564	3.0%
Time Off	$7,750	9.0%
Total Compensation	$86,381	100%

Hourly Wage for Payment Recovery Specialist Salary in the United States