What are the responsibilities and job description for the Cash Posting Specialist position at Axelon Services Corporation?
Cash Posting Specialist
Los Angeles, CA
3 Months - Temp to Perm
- Please note that this role is not initially a supervisory position.
- The selected candidate will not be responsible for managing people at the start. However, if the candidate demonstrates strong supervisory skills, the role may evolve into a supervisory position. This is why we are posting the role with a higher bill rate and including a supervisor job description, along with a leadership requirement, under the working job title of
- Cash Posting Specialist."
Must-Haves for the Role :
Experience with 835 and 837 files and understanding EOB (Explanation of Benefits)
5 years of experience in Payment Posting / Billing and Collections
Ability to organize and prioritize work to meet strict deadlines
Strong analytical and math skills
Demonstrated proficiency in Microsoft Excel, Word, and payment posting software
What are 3-5 Nice to Have details that you want to see in a resume?
3 years of experience in a leadership role
Experience with billing guidelines, contracts, and reimbursement methodologies
Familiarity with healthcare payment processing systems, such as X12 HIPAA mandated transactions and EDI 835
Experience working in a fast-paced team environment and independently
Associate's degree in business, healthcare administration, or a related field
POSITION SUMMARY :
This position supervises the cash posting specialists and is responsible for all daily cash processes, maintaining appropriate posting of all patient and non-patient (G / L) cash, assisting with cash forecasting, and ensuring cash activity is recorded accurately and timely. Monitors discrepancies and notifies appropriate personnel of trends or problems with specific payers, contracts or fee schedule adherence. Adapts to changes of unusual circumstances, new systems, new process flows, structural changes within the department. Promotes cooperation and minimizes disruption to working environment. This position reports to the Director of Accounting and works cross-functionally to support the needs of various departments.
Responsibilities :
Evaluate and propose changes to various treasury products to ensure the department facilitates transactions effectively and efficiently.
Monitors discrepancies and makes needed adjustments. Notifies appropriate personnel of trends or problems with specific payers, contracts or fee schedule adherence. Adapts to changes of unusual circumstances, new systems, new process flows, structural changes within the department, promotes cooperation and minimizes disruption to working environment. Works assigned reports in a timely fashion. Responds to e-mails and inquiries timely and professionally.
Monitor electronic payments and verify compliance with internal controls.
Responsible for meeting or exceeding monthly quality review. Responds to e-mails and inquiries timely and professionally.
Maintain all batches posted, timely and accurate (both manual and electronic) included but not limited to suspense accounts or unidentified cash .
Responsible for identifying and copying payments and or correspondences needed to bill additional insurance companies or maximize reimbursement. Processes correspondence within the established timeline of 5 days from receipt. Responsible for balancing, closing and recording all batches.
Implementation and testing of regulatory requirements affecting payment processing and cash posting. This includes adherence with the most current version of X12 HIPAA mandated transactions, EDI 835 Health Care Claim Payment / Advice Transaction Set utilizing HIPAA-compliant ANSI standard Claim Adjustment Reason Codes and accompanying Remittance Advice Remark Codes, when appropriate.
Coordinate with cross functional resources to resolve problems, identify process improvements, and coordinate activities for areas including, but not limited to remittance information for all USCAH changes pertaining to the payment posting functions as well as review and test build of system upgrades or changes that effect payment processing, cash posting and refunds.
Coordinate with Finance and internal audit to ensure all deposits are posted as directed and all money and files in balance within all internal and external systems.
Monitor credit inventory and ensure resolution is occurring within regulatory deadlines.
Review and Investigate adjustments and refunds as necessary to assure that all appropriate efforts to resolve were successfully exhausted. Provide feedback to staff regarding errors in refund and adjustment transactions.
Monitor status of staff workload using ad hoc and / or system produced reports that identify weekly activity performed, trends in activity and impact of unposted cash.
Provide feedback to staff regarding the status of assignments and instruction in processes that will resolve balances and meet or exceed best of practice standards.
Ensure reporting is in place to track and trend daily cash postings movement and average time to resolve issues.
Manage and oversee the completion and resolution of unidentified cash balance accounts.
Escalate issues timely with appropriate follow up until a resolution is in place.
Work collaboratively across various teams requiring information, support, expertise, or production of targeted work outcomes according to productivity and quality standards.
Manage team by providing leadership to ensure a highly sustainably engaged workforce is in place, with ongoing review of productivity, quality, and staffing needs.
Other duties assigned as deemed necessary by management.
Qualifications :
Minimum of 5 years of experience in Payment Posting / Billing and Collections arena required
Minimum of three years of experience in a leadership role
Req Experience with 835 and 837 files and understanding EOB.
Req Ability to organize and prioritize work to meet strict deadlines.
Req Computer skills including Microsoft Excel, Calculator and Word along with payment posting software.
Req Demonstrate a strong analytical and math skills.
Req Ability to work in a fast pace team environment as well as independently.
Req Strong customer service skills.
Req Requires excellent communication, customer service and organizational skills.
Req Must be detailed oriented.
Req Technical knowledge of billing guidelines, contracts and reimbursement methodology.
Req Ability to read and interpret 835, EOB and paper remits.
Licensure / Certifications / Education :
Minimum of a high school diploma
Prefer an Associate degree in business, healthcare administration, or related field
