Reimbursement SpecialistJob Description, Salary, Career Path, and Trends
Reimbursement specialists are responsible for processing insurance claims quickly and efficiently, as well as investigating claims issues and keeping patient files updated along the way. It’s an essential job because reimbursement specialists are there to ensure that patients receive accurate reimbursements for their claims. This position requires strong attention to detail and familiarity with clerical and office processes, as well as medical and insurance terminology.
Reimbursement specialists can be found working in physician’s offices or at other health care and wellness facilities.
Sample job description
Reimbursement specialists are responsible for communicating and working with insurance companies and medical billing staff to manage billing and various reimbursements. This position requires an advanced understanding of records, coding, and billing practices to ensure compliance and patient confidentiality. If you want to be in a medical setting where you don’t have to be up and running, becoming a reimbursement specialist may be the right career for you. [Your Company Name] is searching for a compassionate reimbursement specialist that has a gift for working with others by listening and trying to fulfill their needs to their best abilities. If you have been in a previous insurance role and have strong organization skills, you may be the perfect candidate to fulfill our open position as a reimbursement specialist.
Typical duties and responsibilities
Process claims quickly and accurately to ensure there are no errors
Update patient medical files
Investigate claims issues and make recommendations for process improvement
Understand insurance carrier guidelines and stay abreast of any changes that occur to communicate them to management and staff
Adhere to confidentiality, state, federal, and HIPPA laws and guidelines with regards to patient’s records
Education and experience
This position requires a high school diploma or GED.
Required skills and qualifications
Understand medical terminology, accounts receivable, insurance collections, and billing
Expertise in written and verbal communication
Ability to think independently
Excellent interpersonal skills
Ability to recognize and deal with priorities
2 years of experience in a call center/customer service-oriented role that requires attention to detail and basic computer skills
General knowledge of benefits, healthcare, medical/pharmacy insurance is a huge plus
Average salary and compensation
The average salary for a reimbursement specialist is $46,700 in the United States. Position salary will vary based on experience, education, company size, industry, and market.
Los Angeles, California
Minneapolis-St. Paul, Minnesota
New York City, New York
Typical work environment
Reimbursement specialists are found in a variety of medical and insurance settings, such as physician’s offices, nursing homes, insurance companies, medical software firms, and more. Reimbursement specialists can expect to work independently in an office, where they will be on phone calls with patients and insurance companies throughout the day. While most reimbursement specialists work the typical 40 hour work week, some may have to work longer hours depending on the season and the company.
The typical work hours for a reimbursement specialist can be from 9 AM to 5 PM, Monday through Friday, in an office setting.
There are often required certificates reimbursement specialists have to earn to demonstrate their knowledge about insurance and health care. Here are some of the most popular certifications to earn:
Certified Professional Biller (CPB). The Certified Professional Biller prepares its students to become expert medical billers. The course provides all the resources needed to learn how to properly submit claims, follow up on claim statuses, resolve claim denials, submit appeals, and make adjustments while always adhering to government regulations. Earning this certification would be the best next step to furthering your career as a reimbursement specialist once you graduate high school or earn your GED.
Certified Billing and Coding Specialist (CBCS). Having basic coding skills is essential to becoming a reimbursement specialist. This certification will teach proper medical coding, so every participant learns how to properly submit medical claims with specific diagnostic codes required for correct payments. The course also teaches how to prevent fraud by understanding how to audit billing. The CBCS not only teaches valuable skills each reimbursement specialist needs, but also how to achieve optimal reimbursements by negotiating with insurance companies and healthcare providers. Becoming a certified billing and coding specialist will make you a competitive applicant and a desirable candidate to many firms!
The career path for a reimbursement specialist starts by first obtaining a high school diploma or GED. While not always necessary to start, employers often prefer candidates that have earned certification through a professional organization like the American Medical Billing Association.
US, Bureau of Labor Statistics’ job outlook
SOC Code: 29-2098
Projected Employment in 2030
Projected 2020-2030 Percentage Shift
Projected 2020-2030 Numeric Shift
The health care industry is generally increasing in size year after year. More people are accessing health care services and making insurance claims for those services. All this activity creates a growing need for reimbursement specialists and people working in the health care billing field.
One reason for this growth is the aging population in the United States. Older people typically need more health care than young people. As the oversized baby-boom generation ages, the demand for health care services generally increases across the board.
Sample interview questions
What made you want to work in this industry?
What previous experience do you have that will help you succeed in this role?
What would you change about the current records systems?
How would you describe your communication skills?
Why are good communication skills essential to becoming a good reimbursement specialist?
How do you make sure you stay up-to-date on insurance regulations and HIPAA laws?
What is your biggest challenge as a reimbursement specialist?
Describe your coding skills
How do you manage rejected or unpaid claims?
What strategies do you use for ensuring accuracy?
What software are you most familiar with?
How do you handle a customer that hasn’t paid their amounts due?
How well do you manage your time?
How do you stay organized?
Describe a time a customer was upset with you. How did you handle the situation?
Share a time you made a mistake making a claim. How did you resolve the issue?
How do you make sure to collect invoices in a timely manner?
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