Inpatient Facilities Credit and Collections Manager

We are Hiring Inpatient Facilities Credit and Collections Manager

At Solventum, we enable better, smarter, safer healthcare to improve lives. As a new company with a long legacy of creating breakthrough solutions for our customers’ toughest challenges, we pioneer game-changing innovations at the intersection of health, material and data science that change patients' lives for the better while enabling healthcare professionals to perform at their best. Because people, and their wellbeing, are at the heart of every scientific advancement we pursue.   

We partner closely with the brightest minds in healthcare to ensure that every solution we create melds the latest technology with compassion and empathy.  

 Because at Solventum, we never stop solving for you.  

The Impact You’ll Make in this Role  

As a Credit and Collections Manager, you will have the opportunity to tap into your curiosity and collaborate with some of the most innovative and diverse people around the world. Here, you will make an impact by:  

• Developing and implementing strategies to increase the number of successful collections on outstanding debt  

• Recruiting, training and managing the collections team  

• Setting targets and monitoring performance of the collections team  

• Conducting risk assessment and analysis on potential clients  

• Performing regular audits to ensure compliance with state and federal collections laws  

• Overseeing the daily operations of the Credit and Collections department  

• Managing a team of collections specialists, credit analyst and Cash App Liaison and ensuring that they are meeting their targets  

• Analyzing data and reports to identify areas of improvement in the collections, credit and risk and cash app liaison process  

• Developing and implementing strategies to improve performance  

• Monitoring compliance with internal policies and procedures as well as external regulations  

• Manage Supervisors teams, escalated collection calls, emails, and disputes.  

• Contacts involve planning and preparation of communications, requiring soft skill, tact, persuasion, and/or negotiation to accomplish the collection goals as set by the department.  

• Work with customers to develop and maintain payment schedules in accordance with terms.  

• Takes immediate action on accounts requiring priority handling due to age or amount of delinquency.  

• Utilizes all available collection techniques to control the delinquency of the receivables.  

• Ensure that the collections strategy is being followed to guarantee the handling of the proper account.   

• Authorizes credit releases and credit holds for select referral accounts based on the status of the account in relation to its credit limit and/or delinquency situation.  

• Recognize potential write-offs/bad debt and recommend action to be taken.  

• Creates reports to support the collection of accounts receivable accounts.  

• Function as liaison between the Facility Accounts Receivable Team, billing, disputes, research and resolution, and the field organization.  

• Participate in all reasonable work activities as assigned and deemed appropriate by management.  

Your Skills and Expertise    

To set you up for success in this role from day one, Solventum requires (at a minimum) the following qualifications:  

• Bachelor’s degree in business or related field, or 5 years’ experience in Supervisor handling high balance and complex A/R accounts.  

• Demonstrates knowledge of accounting skills.  

• Experience with Microsoft Office applications including Word, Excel & Outlook.  

• Financial knowledge to understand the various aspects of collections, credit, and overall financial management.  

• Strong negotiation skills to effectively deal with debtors and work out suitable repayment plans.  

• Exceptional communication skills to handle sensitive financial discussions with customers, and also to liaise with internal teams.  

• Analytical skills to assess the financial status of customers and determine appropriate collection methods.  

• Legal knowledge to understand and adhere to debt collection laws and regulations.  

• Highly organized with good attention to detail to track and manage multiple accounts at various stages of the collection process.  

• Problem-solving skills to identify and overcome challenges that may arise during the collections process.  

We are looking for a person that implements and has strong alignment with 3M culture and values.