What are the responsibilities and job description for the Cash Application Specialist position at Confidential - Manufacturing?
The Cash Application Specialist for Insurance Claims/Customer Invoicing responsible for accurately processing and reconciling incoming payments from insurance companies and other customers. This role ensures timely posting of payments to the appropriate accounts, reconciles cash receipts with bank deposits, and collaborates with internal teams to resolve discrepancies.
Key Responsibilities:
- Payment Processing: Accurately apply insurance payments, adjustments, and denials to patient accounts promptly.
- Bank Reconciliation: Reconcile daily cash receipts with bank deposits to ensure consistency and accuracy.
- Account Reconciliation: Balance daily cash receipts and ensure all payments are correctly posted and matched to corresponding claims.
- Discrepancy Resolution: Identify and resolve payment discrepancies, such as underpayments, overpayments, and misapplied payments.
- Denial Management: Review and analyze claim denials or payment discrepancies, coordinating with billing and collections teams to address issues.
- Documentation & Reporting: Maintain detailed records of all payment transactions and generate reports for management as needed.
- Communication: Collaborate with insurance companies, billing teams, and other departments to ensure accuracy in payment postings and resolve outstanding issues.
- Compliance: Ensure all cash applications and bank reconciliations adhere to company policies, industry regulations, and HIPAA guidelines.
Qualifications & Skills:
- Education: High school diploma or equivalent required; Associate’s or Bachelor’s degree in Finance, Accounting, Healthcare Administration, or a related field preferred.
- Experience: Experience in Accounts receivable, bank reconciliation, or medical billing in a healthcare or insurance environment.
- Technical Skills: Proficiency in accounting software, medical billing systems (e.g., Epic, Cerner), and Microsoft Excel.
- Attention to Detail: Strong analytical skills with a high level of accuracy in payment posting, reconciliation, and bank transactions.
- Problem-Solving: Ability to identify and resolve discrepancies promptly.
- Communication: Excellent verbal and written communication skills to interact with internal teams and external payers.
Work Environment:
- 100% on-site
- Fast-paced environment requiring strong organizational and time management skills.
This role is crucial in maintaining accurate financial records and ensuring the efficient processing of insurance claim payments.
Job Type: Full-time
Pay: From $25.00 per hour
Expected hours: 40 per week
Benefits:
- 401(k)
- Dental insurance
- Disability insurance
- Employee assistance program
- Health insurance
- Paid time off
- Vision insurance
Schedule:
- Monday to Friday
Supplemental Pay:
- Overtime pay
Ability to Commute:
- Saint Petersburg, FL 33716 (Required)
Work Location: In person
Salary : $25
