ABBOTT LABORATORIES Specialist, Medical Billing Salary in the United States

How much does a Specialist, Medical Billing make at companies like ABBOTT LABORATORIES in the United States? The average salary for Specialist, Medical Billing at companies like ABBOTT LABORATORIES in the United States is $78,411 as of January 26, 2024, but the range typically falls between $66,901 and $89,922. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.  View the Cost of Living in Major Cities2

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What does a Specialist, Medical Billing do at companies like ABBOTT LABORATORIES?

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 103,000 colleagues serve people in more than 160 countries.

The Medical Billing Specialist I is responsible for facilitating the daily management of billing, accounts receivable and overseeing the collection efforts for the Continuum business. The position requires the development and standardization of procedures for new payers and for the collection of co-payments from clients.  In addition, this position provides analysis and reporting of collection metrics such as critical aging trends and works with clients to establish the need for financial assistance as necessary. 

RESPONSIBILITIES:

  • Facilitates the timely and accurate electronic transmission of claims to third party payers.  In cases where electronic transmission is not available, assures that the paper claim is properly completed and submitted in a timely manner.  This includes but is not limited to verification of insurance, confirmation of sales orders, providing notification to clients/caregivers regarding coverage and payment responsibilities, posting the receipt of payment in the computer system, transmitting secondary claims and working payment denials.
  • Assures that all phases of processing client information are in compliance with HIPAA, PHI regulatory and related policies and practices; reports any Compliance issues to the Operations Manager.
  • Communicates in a professional and positive manner with all clients and referral sources.
  • Oversees the insurance verification process and ensures that any co-payments due are communicated to the client prior to the order being delivered or shipped.
  • When applicable may gather credit card or other payment processing information from the client and utilizes the computer system to process payment for third party payers and clients.
  • Manages the entry of client information into the ERP system (e.g. Brightree) in a timely manner and contact of referral source and/or client to obtain missing information needed to set up the client for service. Reviews the data to ensure that it is accurate and complete.
  • Confirms all sales orders in the system and ensures that proof of delivery is on file before submitting a claim for payment.
  • Follows up on all missing sales orders and reconciles payment information on a regular basis.
  • Corrects and resubmits front-end and back-end rejected claims. 
  • Ensures that all cash is posted to the correct account in a timely manner.
  • Responsible for the timely follow-up and collection of payments due to the organization.  This is accomplished by generating claims and/or following up with clients and/or payers.
  • Communicates and reports to management monthly on client co-payment analytics.
  • Develops and updates procedures as required for billing and collection processes.
  • Conducts testing as necessary related to billing/collections processes within the ERP (e.g. Brightree) system.
  • Conducts research and uses available resources to maintain current regulatory guidelines and reimbursement information to ensure that the company is obtaining all appropriate information as required for billing and reimbursement.
  • Works with internal and external auditors as necessary to assure financial compliance.
  • Performs other duties as needed.

MINIMUM QUALIFICATIONS:

  • In lieu of Degree, incumbent may present four years of progressively responsible work experience with a hospital or other health-care provider in an intake, insurance verification or collections function. 
  • Knowledge of Medicare and other regulatory practices in order to assess effectiveness of intake referral activities.  Such knowledge may be derived from graduation from an accredited educational program or on-the-job training of no less than two years in a Hospital Billing, Durable Medical Equipment or other health-care setting.  Should be well-versed in regulatory guidelines and industry standards for Medicare and/or specific payer benefit providers.
  • Familiar with health-care collection guidelines and practices; able to meet month-end deadlines and productions goals. 
  • Strong time management and problem solving skills required. 
  • Possesses excellent interpersonal skills; ability to work independently.
  • Flexibility and the ability to work effectively within a multidisciplinary team.
  • Ability to communicate effectively (verbal and oral) with team members, clients, caregivers, clinicians and referral sources.
  • Well organized and able to perform multifaceted projects in conjunction with normal activities.
  • Ability to operate a computer and use the operational software used by the office.
  • Ability to work under stressful conditions.

ADDITIONAL QUALIFICATIONS:

  • Billing/Coding Certification highly desired.

Check out Specialist, Medical Billing jobs in Ashburn, Virginia

Revenue Recovery Reconciliation Specialist

North American Partners in Anesthesia (NAPA) - Fairfax, VA

$66,901 Low Average $78,411 High $89,922

Understand the total compensation opportunity for Specialist, Medical Billing at companies like ABBOTT LABORATORIES, base salary plus other pay elements

Average Total Cash Compensation

Includes base and annual incentives

$66,901
$89,922
$78,411
The chart shows total cash compensation for the ABBOTT LABORATORIES Specialist, Medical Billing in the United States, which includes base, and annual incentives can vary anywhere from $66,901 to $89,922 with an average total cash compensation of $78,411. Total compensation includes the value of any benefits received in addition to your salary and some of the benefits that are most commonly provided within a total compensation package including bonuses, commissions, paid time off, and Insurance. The total cash compensation may get paid differently by industry, location, and other factors.
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