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Collections Specialist (Chicago, IL; Malvern, PA)

Join a fast-paced revenue cycle team where you'll take the lead in resolving complex insurance claims, driving timely reimbursements, and making a direct impact on financial performance and operational success.

Your role:

• Manage denied and rejected insurance claims by researching root causes, correcting claim issues, and following up with payers to secure timely reimbursement. Review EOBs, payment variances, aging reports, and negative balances to ensure accurate claim processing.

• Work directly with insurance payers to resolve denials, authorization issues, filing errors, and reimbursement discrepancies. Escalate recurring payer trends and recommend process improvements or solutions to leadership.

• Verify patient eligibility and benefits, including qualifying diagnoses, prior testing, and authorization requirements. Interpret insurance benefits and claim outcomes to support accurate billing and reimbursement.

• Utilize Excel, dashboards, and daily/weekly worklists to track claims activity, monitor productivity, and identify reimbursement trends. Maintain compliance with internal processes, reimbursement standards, and quality expectations.

• Support team collaboration by assisting with payer resolution efforts across accounts and ensuring timely follow-up on insurance correspondence and outstanding claims.

You're the right fit if:

• You've acquired 2+ years of experience in Accounts Receivable Management, Reimbursement, Collections, or Denial Management, with hands-on experience resolving denied and rejected insurance claims and working directly with payers.

• Your skills include:

  • Strong denial management and claims troubleshooting abilities

  • Knowledge of insurance payers, including Medicare, Medicaid, Blue Cross Blue Shield and commercial plans.

  • Proficiency in Excel, dashboards, and analyzing payer trends/worklists

  • Ability to verify insurance benefits and interpret EOBs (Explanation of Benefits)

  • Strong computer skills with the ability to navigate multiple systems efficiently

• You have a bachelor's degree, High School Diploma or GED, or vocational training in finance, accounting, business administration, economics, or a related field.

• You must be able to successfully perform the following minimum Physical, Cognitive and Environmental job requirements with or without accommodation for this position.

• You're an analytical and detail-oriented professional with strong problem-solving and communication skills, who thrives working independently in a fast-paced environment while maintaining a collaborative and adaptable team-focused mindset.

How we work together

We believe that we are better together than apart. For our office-based teams, this means working in-person at least 3 days per week. Onsite roles require full-time presence in the company's facilities. Field roles are most effectively done outside of the company's main facilities, generally at the customers' or suppliers' locations.

This is an office role.

About Philips

We are a health technology company. We built our entire company around the belief that every human matters, and we won't stop until everybody everywhere has access to the quality healthcare that we all deserve. Do the work of your life to help improve the lives of others.

• Learn more about our business.

• Discover our rich and exciting history.

• Learn more about our purpose.

• Learn more about our culture.

Philips Transparency Details

The pay range for this position in Chicago, IL and Malvern, PA is $26.00 to $41.00.

The actual base pay offered may vary within the posted ranges depending on multiple factors including job-related knowledge/skills, experience, business needs, geographical location, and internal equity.

In addition, other compensation, such as an annual incentive bonus, sales commission or long-term incentives may be offered. Employees are eligible to participate in our comprehensive Philips Total Rewards benefits program, which includes a generous PTO, 401k (up to 7% match), HSA (with company contribution), stock purchase plan, education reimbursement and much more. Details about our benefits can be found here.

At Philips, it is not typical for an individual to be hired at or near the top end of the range for their role and compensation decisions are dependent upon the facts and circumstances of each case.

Additional Information

US work authorization is a precondition of employment. The company will not consider candidates who require sponsorship for a work-authorized visa, now or in the future.

Company relocation benefits will not be provided for this position. For this position, you must reside in or within commuting distance to Chicago, IL or Malvern, PA.

#ConnectedCare

This requisition is expected to stay active for 45 days but may close earlier if a successful candidate is selected or business necessity dictates. Interested candidates are encouraged to apply as soon as possible to ensure consideration.

Philips is an Equal Employment and Opportunity Employer including Disability/Vets and maintains a drug-free workplace.