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Louis Carter
Cost Recovery Technician
Summary
Experienced Cost Recovery Technician with a proven track record of recovering underbilled revenue and implementing cost recovery strategies that have increased revenue by 15%. Skilled in utilizing cost recovery software, analyzing patient data, identifying coding errors, managing a team, conducting educational workshops, and collaborating with auditors. Expertise in account receivable management, auditing, billing management, budgeting, claims processing, and HIPAA compliance.
Education
Healthcare Administration
March 2015
Skills
- Account Receivable Management
- Auditing
- Billing Management
- Budgeting
- Claims Processing
- HIPAA Compliance
Work Experience
Cost Recovery Technician
- Conducted educational workshops for providers on best practices for cost recovery and coding compliance.
- Utilized data analytics to identify trends and opportunities for improving cost recovery performance.
- Collaborated with auditors to ensure compliance with regulatory requirements for cost recovery.
- Developed and maintained relationships with payers to optimize reimbursement.
Cost Recovery Technician
- Collaborated with healthcare providers to identify and recover underbilled revenue opportunities.
- Utilized cost recovery software to analyze patient data, identify coding errors, and quantify lost revenue.
- Developed and implemented cost recovery strategies that resulted in a 15% increase in revenue.
- Managed a team of cost recovery specialists responsible for processing over 10,000 claims per month.
Accomplishments
- Recovered $3.5 million in underbilled patient charges through meticulous audits and revenue cycle analysis
- Established a standardized cost recovery process, leading to a 20% increase in revenue capture
- Improved communication with providers, reducing denials and ensuring timely reimbursements
- Developed new reporting system to track cost recovery metrics, enabling datadriven decisionmaking
- Identified and corrected billing inaccuracies, resulting in significant financial savings for the organization
Awards
- Presidential Award for Excellence in Cost Recovery
- Certified Cost Recovery Specialist (CCRS) designation
- Recognized for exceptional accuracy and attention to detail in Medicare cost report preparation
- Excellence in Healthcare Financial Management Award
Certificates
- Certified Billing and Coding Specialist (CBCS)
- Certified Cost Recovery Professional (CCRP)
- Certified Medical Reimbursement Specialist (CMRS)
- Certified Professional Coder (CPC)
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How To Write Resume For Cost Recovery Technician
- Highlight your experience in healthcare revenue cycle management, specifically in cost recovery.
- Quantify your accomplishments with specific metrics, such as the amount of revenue recovered or the percentage increase in revenue.
- Demonstrate your knowledge of cost recovery software and industry best practices.
- Showcase your teamwork and leadership skills by mentioning your experience managing a team and collaborating with healthcare providers.
Essential Experience Highlights for a Strong Cost Recovery Technician Resume
- Collaborate with healthcare providers to identify and recover underbilled revenue opportunities.
- Utilize cost recovery software to analyze patient data, identify coding errors, and quantify lost revenue.
- Develop and implement cost recovery strategies to maximize revenue recovery.
- Manage a team of cost recovery specialists responsible for processing a high volume of claims.
- Conduct educational workshops for providers on best practices for cost recovery and coding compliance.
- Utilize data analytics to identify trends and opportunities for improving cost recovery performance.
- Collaborate with auditors to ensure compliance with regulatory requirements for cost recovery.
Frequently Asked Questions (FAQ’s) For Cost Recovery Technician
What is the primary objective of a Cost Recovery Technician?
The primary objective of a Cost Recovery Technician is to identify and recover underbilled revenue opportunities within the healthcare industry.
What skills are required to be successful in this role?
To be successful as a Cost Recovery Technician, you should possess skills in account receivable management, auditing, billing management, budgeting, claims processing, and HIPAA compliance.
What are the career advancement opportunities for a Cost Recovery Technician?
With experience and additional qualifications, you may advance to roles such as a Cost Recovery Manager or a Revenue Cycle Manager.
What certifications are beneficial for a Cost Recovery Technician?
Certifications such as the Certified Cost Recovery Professional (CCRP) or the Certified Revenue Cycle Professional (CRCP) can enhance your credibility and knowledge.
What is the typical work environment for a Cost Recovery Technician?
Cost Recovery Technicians typically work in an office setting, collaborating with healthcare providers, auditors, and other members of the revenue cycle team.
What is the expected salary range for this role?
The salary range for a Cost Recovery Technician can vary depending on experience, qualifications, and location. However, you can expect to earn within the industry average for similar roles.
Are there any professional organizations or resources available for Cost Recovery Technicians?
Yes, there are professional organizations such as the Healthcare Financial Management Association (HFMA) and the American Health Information Management Association (AHIMA) that provide resources, networking opportunities, and continuing education for Cost Recovery Technicians.
What are the key trends and challenges in the field of cost recovery?
The field of cost recovery is constantly evolving, with advancements in technology and changes in healthcare regulations. Key trends include the use of data analytics for revenue recovery, the focus on compliance, and the need for skilled professionals in this specialized area.