Cash/Adj Processing Specialist
About The Position
Ann & Robert H. Lurie Children’s Hospital of Chicago provides superior pediatric care in a setting that offers the latest benefits and innovations in medical technology, research and family-friendly design. As the largest pediatric provider in the region with a 140-year legacy of excellence, kids and their families are at the center of all we do. Ann & Robert H. Lurie Children’s Hospital of Chicago is ranked in all 10 specialties by the U.S. News & World Report. Day (United States of America) Location 680 Lake Shore Drive Job Description General Summary: Responsible for the daily review and posting of insurance remittances, patients, guarantors, third party payers and insurance companies received electronic or hard copy. Reviews contractual adjustments taken by managed care payers, and researches and resolves any differences. Responsible for distributing payments received by PFS but which are intended as payments for other Children Memorial Hospital entities. Generate appropriate documentation to the Accounting Department to account for all cash transactions related to patient accounts receivable. Many standard operational practices are affected by the timely fulfillment of the Cash/Adjustment Processing Specialist. Speed, accuracy and attention to detail are highly recommended for this position.
Requirements
- High school diploma or general education degree (GED), or two or three years related experience and/or training.
- Solid knowledge of Excel required (linking and creating formulas).
- Math and accounting experience preferred.
- Ability to enter or key high volumes of data rapidly and accurately required
- Analytical skills in order to identify incorrect errors.
- Bank reconciliation experience required.
- Experience with electronic remittance advice software preferred.
- EPIC experience a must.
- Knowledge of physician billing work flow, third party payer procedures, governmental regulations and managed care contracting to effectively understand and to respond to inquiries on patient accounts.
- Excellent customer service skills, professional, self-confident, dependable and a team player.
Responsibilities
- Applies payments received electronically or hard copy daily. To the appropriate patient accounts.
- Responsible for daily processing reconciliation of lock box, EFT’s and credit card posting in practice management system.
- Processes or transfer credits to the appropriate Children Memorial Hospital entities.
- Reconciles Blue Cross Experience Report.
- Prepares journal entries with appropriate documentation to the Accounting Department for all journal entries related to patient accounts receivables.
- Using Managed Care contract terms and governmental reimbursement regulations, corrects any erroneously posted system-generated or manual contractual adjustments taken prior to the time of payment, and posts any appropriate contractual adjustments not posted prior to the time of payment.
- After reviewing the accuracy of payments and adjustments posted to the account, and after ensuring the accuracy of amounts pro-rated to third parties and the patient, determines the next step in pursuing any remaining balances, and provides the necessary data to the person responsible for the next step in following up on remaining balances.
- Verify and apply credit card transactions to reconcile monthly account statements
- Reconcile bank statements report daily.
- Processes all patient or third party checks returned as unpayable due to insufficient funds.
- Other job functions as assigned.
Benefits
- For full time and part time employees who work 20 or more hours per week we offer a generous benefits package that includes:
- Medical, dental and vision insurance
- Employer paid group term life and disability
- Employer contribution toward Health Savings Account
- Flexible Spending Accounts
- Paid Time Off (PTO), Paid Holidays and Paid Parental Leave
- 403(b) with a 5% employer match
- Various voluntary benefits: Supplemental Life, AD&D and Disability Critical Illness, Accident and Hospital Indemnity coverage
- Tuition assistance
- Student loan servicing and support
- Adoption benefits
- Backup Childcare and Eldercare
- Employee Assistance Program, and other specialized behavioral health services and resources for employees and family members
- Discount on services at Lurie Children’s facilities
- Discount purchasing program
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
