Asset recovery specialist vs collections specialist

Differences between asset recovery specialist and collections specialist duties and responsibilities

Asset recovery specialist example responsibilities.

• Manage university A/R processes and enforce tuition payment policy.
• Handle sensitive information given according to FDCPA regulations and standards.
• Create negotiation strategies that help increase revenue by reducing losses on third-party settlement transactions.
• Submit additional information request by insurance companies such as medical records, primary/secondary insurance explanation of benefits (EOB).
• Secure modification documents including HAMP and bank require documents.

Collections specialist example responsibilities.

• Manage university A/R processes and enforce tuition payment policy.
• Manage accounts for healthcare clients, review detailed patient information for payment resolution while abiding HIPPA privacy and security regulations.
• Review denied Medicare and Maine Medicaid insurance claims for accuracy.
• Analyze hospital insurance claims of individual patients for errors and contact major insurance carriers for claims dispute resolution.
• Analyze accounts for patients ineligible for private insurance, Medicare or Medicaid and indicating inability to pay balance.
• Possess effective persuasion and negotiation skills, excellent interpersonal and communications skills with the ability to deliver quality customer service.
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