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Become A Reimbursement Specialist

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Working As A Reimbursement Specialist

  • Processing Information
  • Interacting With Computers
  • Getting Information
  • Performing Administrative Activities
  • Communicating with Supervisors, Peers, or Subordinates
  • Mostly Sitting

  • Repetitive

  • $40,063

    Average Salary

What Does A Reimbursement Specialist Do

Financial clerks do administrative work for many types of organizations. They keep records, help customers, and carry out financial transactions.

Duties

Financial clerks typically do the following:

  • Keep and update financial records
  • Compute bills and charges
  • Offer customer assistance
  • Carry out financial transactions

Financial clerks give administrative and clerical support in financial settings. Their specific job duties vary by specialty and by setting.

Billing and posting clerks calculate charges, develop bills, and prepare them to be mailed to customers. They review documents such as purchase orders, sales tickets, charge slips, and hospital records to compute fees or charges due. They also contact customers to get or give account information.

Gaming cage workers work in casinos and other gaming establishments. The “cage” in which they work is the central depository for money and gaming chips. Gaming cage workers sell gambling chips, tokens, or tickets to patrons. They count funds and reconcile daily summaries of transactions in order to balance books.

Payroll and timekeeping clerks compile and post employee time and payroll data. They verify and record attendance, hours worked, and pay adjustments. They ensure that employees are paid on time and that their paychecks are accurate.

Procurement clerks compile requests for materials, prepare purchase orders, keep track of purchases and supplies, and handle questions about orders. They respond to questions from customers and suppliers about the status of orders. They handle requests to change or cancel orders. They make sure that purchases arrive on schedule and that the items meet the purchaser’s specifications.

Brokerage clerks help with tasks associated with securities such as stocks, bonds, commodities, and other kinds of investments. Their duties include writing orders for stock purchases and sales, computing transfer taxes, verifying stock transactions, accepting and delivering securities, distributing dividends, and keeping records of daily transactions and holdings.

Credit authorizers, checkers, and clerks review the credit history, and get the information needed to determine the creditworthiness, of individuals or businesses applying for credit. Credit authorizers evaluate customers’ computerized credit records and payment histories to decide, based on predetermined standards, whether to approve new credit. Credit checkers call or write credit departments of business and service establishments to get information about applicants’ credit standing.

Loan interviewers, also called loan processors or loan clerks, interview applicants and others to get and verify personal and financial information needed to complete loan applications. They also prepare the documents that go to the appraiser and are issued at the closing of a loan.

New accounts clerks interview people who want to open accounts in financial institutions. They explain the account services available to prospective customers and help them fill out applications. They also investigate and correct errors in accounts.

Insurance claims and policy processing clerks process applications for insurance policies. They also handle customers’ requests to change or cancel their existing policies. Their duties include interviewing clients and reviewing insurance applications to ensure that all questions have been answered. They also notify insurance agents and accounting departments of policy cancellations or changes.

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How To Become A Reimbursement Specialist

A high school diploma or equivalent is typically required for most financial clerk jobs. These workers usually learn their duties through on-the-job training.

Education

Financial clerks typically need a high school diploma or equivalent to enter the occupation. Employers of brokerage clerks may prefer candidates who have taken some college courses in business or economics and, in some cases, require a 2- or 4-year college degree.

Training

Most financial clerks learn how to do their job duties through on-the-job training. Some formal technical training also may be necessary; for example, gaming cage workers may need training in specific gaming regulations and procedures.

Advancement

Financial clerks can advance to related occupations in finance. For example, a loan interviewer or clerk can become a loan officer, and a brokerage clerk can become a securities, commodities, or financial services sales agent, after obtaining the required education and license.

Important Qualities

Communication skills. Financial clerks should have good communication skills so that they can explain policies and procedures to colleagues and customers.

Math skills. The job duties of financial clerks, including calculating charges and checking credit scores, require basic math skills.

Organizational skills. Strong organizational skills are important for financial clerks because they must be able to find files quickly and efficiently.

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Reimbursement Specialist jobs

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Reimbursement Specialist Career Paths

Reimbursement Specialist
Case Manager Program Manager General Manager
Account Manager
5 Yearsyrs
Collections Specialist Accounts Receivable Specialist
Accounts Receivable Manager
6 Yearsyrs
Collections Specialist Billing Specialist
Billing Manager
7 Yearsyrs
Accounts Receivable Specialist Accountant
Business Manager
7 Yearsyrs
Billing Supervisor Office Manager Business Office Manager
Business Office Director
8 Yearsyrs
Billing Manager Accounts Receivable Specialist
Business Office Manager
8 Yearsyrs
Medical Coder Adjunct Instructor Instructor
Chief Executive Officer
8 Yearsyrs
Collector Specialist Case Manager
Clinical Manager
8 Yearsyrs
Analyst Operations Analyst Intelligence Analyst
Collections Manager
5 Yearsyrs
Business Office Manager Business Manager Controller
Finance Services Director
10 Yearsyrs
Collector Account Manager Senior Manager
Managing Director
11 Yearsyrs
Case Manager Program Coordinator Assistant Director
Office Manager
5 Yearsyrs
Medical Coder Auditor Controller
Operations Manager
7 Yearsyrs
Finance Counselor Supervisor, Patient Access
Patient Care Manager
9 Yearsyrs
Insurance Verification Specialist Finance Counselor Service Supervisor
Patient Services Manager
8 Yearsyrs
Business Office Manager Accountant Staff Accountant
Payroll Manager
7 Yearsyrs
Finance Counselor Account Manager Business Manager
Practice Administrator
10 Yearsyrs
Billing Manager Business Office Manager Business Manager
Practice Manager
9 Yearsyrs
Billing Supervisor Billing Manager
Revenue Manager
8 Yearsyrs
Accounts Receivable Specialist Finance Analyst Finance Manager
Senior Manager
10 Yearsyrs
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Average Length of Employment
Insurance Biller 3.2 years
Billing Specialist 3.1 years
Bill Poster 2.9 years
Insurance Analyst 2.8 years
Billing Coder 2.6 years
Revenue Specialist 2.6 years
Specialist 2.5 years
Biller 2.3 years
Billing Assistant 2.1 years
Top Employers Before
Specialist 3.0%
Internship 2.6%
Supervisor 2.6%
Manager 2.5%
Cashier 2.4%
Top Employers After
Manager 3.8%
Supervisor 3.7%
Specialist 3.4%
Consultant 2.8%
Collector 2.3%

Reimbursement Specialist Demographics

Gender

Female

83.6%

Male

14.5%

Unknown

1.9%
Ethnicity

White

80.6%

Hispanic or Latino

11.1%

Asian

6.3%

Unknown

1.4%

Black or African American

0.6%
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Languages Spoken

Spanish

63.2%

French

15.1%

German

3.8%

Carrier

3.8%

Chinese

1.9%

Hindi

1.9%

Portuguese

0.9%

Filipino

0.9%

Vietnamese

0.9%

Bosnian

0.9%

Tagalog

0.9%

Urdu

0.9%

Polish

0.9%

Korean

0.9%

Italian

0.9%

Arabic

0.9%

Croatian

0.9%
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Reimbursement Specialist Education

Schools

University of Phoenix

34.7%

Strayer University

6.6%

Ashford University

6.0%

American InterContinental University

4.3%

University of Memphis

4.3%

Liberty University

4.0%

Community College of Allegheny County

3.7%

Anne Arundel Community College

3.4%

University of Louisville

3.2%

Kaplan University

3.2%

Colorado Technical University

3.2%

Rasmussen College

2.9%

University of Maryland - University College

2.9%

Michigan State University

2.6%

Walden University

2.6%

University of Houston

2.6%

Ashworth College

2.6%

Brookdale Community College

2.6%

Towson University

2.6%

The Academy

2.3%
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Majors

Business

28.9%

Health Care Administration

21.0%

Accounting

8.3%

Nursing

5.5%

Medical Assisting Services

4.6%

Management

4.0%

Psychology

3.5%

Computer Information Systems

2.9%

Insurance

2.5%

General Studies

2.4%

Criminal Justice

2.3%

Education

2.1%

Communication

1.7%

Pharmacy

1.7%

Human Services

1.7%

Public Health

1.5%

Biology

1.5%

Finance

1.4%

Health/Medical Preparatory Programs

1.3%

Marketing

1.3%
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Degrees

Bachelors

30.8%

Other

30.6%

Associate

15.3%

Masters

11.0%

Certificate

7.6%

Diploma

3.4%

License

0.9%

Doctorate

0.4%
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Job type you want
Full Time
Part Time
Internship
Temporary

Real Reimbursement Specialist Salaries

Job Title Company Location Start Date Salary
Clinical Reimbursement Specialist North Westchester Restorative Therapy and Nursing Lake Mohegan, NY Nov 29, 2012 $87,000
Clinical Reimbursement Specialist North Westchester Restorative Therapy and Nursing Lake Mohegan, NY Nov 27, 2012 $87,000
Clinical Reimbursement Specialist North Westchester Restorative Therapy and Nursing Lake Mohegan, NY Dec 10, 2012 $87,000
Senior Reimbursement Specialist Lee Memorial Health System, A Special Purpose Unit Cape Coral, FL Nov 11, 2012 $72,301 -
$112,986
Reimbursement Specialist The Methodist Hospital Houston, TX Jun 13, 2011 $72,000
Reimbursement Specialist The Methodist Hospital Houston, TX Jun 06, 2011 $72,000
Provider Reimbursement Specialist United Healthcare Services, Inc. Columbia, MD Apr 26, 2016 $57,907 -
$63,000
Senior Reimbursement Specialist Lee Memorial Health System Cape Coral, FL Oct 01, 2010 $55,265 -
$84,635
Reimbursement Specialist Centra Health, Inc. Lynchburg, VA Oct 01, 2015 $44,408
Reimbursement Specialist I Healthsouth Corporation Birmingham, AL Aug 08, 2013 $43,600
Clinical Reimbursement Specialist RN Express Staffing Registry LLC New York, NY Oct 01, 2012 $43,500
Reimbursement Specialist Centra Health, Inc. Lynchburg, VA Oct 01, 2012 $42,825

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Top Skills for A Reimbursement Specialist

InsuranceCompaniesMedicare/MedicaidCustomerServicePatientAccountsCpt-4Follow-UpAccountsReceivablesMedicalRecordsHealthcareProvidersPharmacyDataEntryEOBInsuranceClaimsInsuranceVerificationAuditDurableMedicalEquipmentHcpcsInsuranceCarriersInsurancePayersFeeSchedules

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Top Reimbursement Specialist Skills

  1. Insurance Companies
  2. Medicare/Medicaid
  3. Customer Service
You can check out examples of real life uses of top skills on resumes here:
  • Major Functions: Prepared and submitted patient billing claims to Medicare and Medicaid as well as various Commercial Insurance Companies.
  • Initiated daily quality reviews of payer contracts, claim processing issues and eligibility and benefits for Medicare/Medicaid patients.
  • Be customer service oriented and maintain a professional approach regarding all matters.
  • Monitor and audit out of network claims, patient accounts and prepare detailed reports for management.
  • Worked with all Microsoft applications, Lotus Notes 123, ICD-9, CPT-4 coding and AS400 system.

Top Reimbursement Specialist Employers

Reimbursement Specialist Videos

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