Payment Posting Specialist

About This Role

This role involves accurately posting payments from various sources, reconciling daily balances, and ensuring timely processing of payments and error corrections within a healthcare setting. The specialist will contribute to the financial accuracy and efficiency of the practice by meticulously handling accounts receivable.

Responsibilities

• Post payments of accounts receivable from Medicare, Medicaid, Insurance Payers and patients, including ERA, EFT and cash receipts
• Prioritizes daily work and assesses backlog situations, making adjustments as needed
• Reconciles cash/contractual balances, assuring the reliability and accuracy of the daily bank balancing procedures and variances daily
• Process refunds
• Identifies, researches, and ensures timely processing of payments and error corrections, ensuring appropriate documentation of payments, allowances, denial, rejections, etc. are recorded on individual accounts
• Reconciles daily batch posting to actual entry in order to identify and reconcile any discrepancies, ensuring that payment posting functions are accurate and performed on a timely basis
• Download and process electronic remittance advices in a centralized cash receipt environment
• Maintains thorough knowledge of third-party payment applications, requirements, and regulatory guidelines at the federal, state, and local levels
• Meets all monthly and year-end fiscal closing deadlines as they relate to the cash application process
• Meets or exceeds departmental productivity standards on a consistent basis

Requirements

• Minimum two years of high-volume Healthcare/Managed Care payment posting
• Ability to interpret Explanation of Benefits
• Accounts receivable experience
• Strong knowledge of Microsoft Office Suite: Word, Excel (VLOOKUP, Pivot Tables), Outlook
• Strong communication, organization and interpersonal skills
• Keen attention to detail
• Knowledge of EOB’s

Qualifications

• High School graduate or equivalent
• 2-3 years healthcare experience, minimum two years of high-volume Healthcare/Managed Care payment posting

Nice to Have

• Worked in the healthcare industry

Skills

* Required skills

Benefits