Under general supervision this position supports the vision and mission for The Cardiac and Vascular Institute. Expectations include, but are not limited to, processing daily payment batches, electronic remittance enrollment, daily batch balancing, researching delays in reimbursement, and utilizing all possible means to resolve accounts. The cash posting specialist is responsible for supporting the department by ensuring all correspondence received is posted accurately and meeting performance goals while adhering to current laws and payer regulations.
Key Responsibilities
- Accurately post daily payments batches of payments received from insurance companies, patients, and other payers into the billing system.
- Verify and reconcile payments to ensure they match the amounts billed.
- Reconcile all monies deposited, process check deposits and process credit cards.
- Investigate and resolve any discrepancies or issues related to payments.
- Process adjustments, refunds, and write-offs as necessary.
- Apply appropriate workflow to patient accounts.
- Prepare and distribute reports on payment posting activities.
- Collaborate with registration, charge entry and follow-up teams to ensure timely and accurate payment processing.
- Stay updated on insurance regulations, coding changes, and billing guidelines.
- Maintain confidentiality of patient information and adhere to HIPAA regulations.
- Other duties and responsibilities as assigned.
Knowledge, Skills and Abilities
- Ability to read and understand Explanation of Benefits (EOB).
- Understanding of standard healthcare adjustment codes and remark codes.
- Ability to analyze recoupments, credit balances, and refund requests.
- Familiarity with 835 electronic data files.
- Strong attention to detail and accuracy.
- Ability to work independently and as part of a team.
- Proficiency with computer systems and software, including Microsoft Office and hospital systems.
- Knowledge of HIPAA regulations and compliance.
- Ability to multi-task, prioritize, and manage time effectively.
- Willingness to learn and adapt to new technologies and processes.
- Effective verbal and written communication skills are necessary in dealing with a variety of healthcare and finance professionals including senior management staff.
- Ability to work effectively in a matrix work environment and to manage multiple deadline-driven tasks and projects.
Qualifications
- High School Diploma or equivalent (GED)
- At least 3+ years of experience in the healthcare industry or RCM field for Medical Cash Payment Posting.
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