Cash Application Specialist

Illinois Bone and Joint Institute LLC•Park Ridge, IL

8d•$21 - $23•Onsite

About The Position

The cash application specialist will ensure all patient and insurance payments are posted accurately, will resolve any discrepancies and identify valid insurance credits/refunds.

Requirements

High School graduate or equivalent required
Minimum 3 years’ experience in healthcare revenue cycle, specifically payment posting and cash reconciliation
Ability to interpret Explanation of Benefits (EOBs), all ANSI codes and Provider Level Balance (PLB) adjustments
Knowledge of Healthcare (professional) billing, CPT/ICD-10 coding, medical terminology, Medicare, Medicaid, HMO/PPO/EPO, Work Comp and Commercial insurance guidelines
Strong computer literacy skills including proficiency in Microsoft Excel
Excellent organization skills, high attention to detail and proficiency in account management
Results oriented with a proven track record of accomplishing tasks within a high-performing team environment
Stand or sit for extended periods of time

Responsibilities

Post payments received via ACH, credit card and lockboxes to corresponding patient accounts
Efficiently research, analyze, and post Electronic Remittance Files (ERAs/835s) and Explanation of Benefits (EOBs)
Contact payers via phone, mail and payer portals to resolve outstanding credits or to locate patient information
Ensure successful month end closing and reconciliation
Post and allocate payments in multiple EMR tools for several entities of IBJI
Correct and escalate any payment posting discrepancies accordingly
Efficiently resolve unapplied payments and refund inquiries in Epic workqueues
Participate in projects designed to improve cash application processes or procedures
Identify trends and escalate them to the corresponding third party
Meet all set performance requirements for both quality and productivity
Establish and maintain a positive relationship with other departments
Maintain a clean and safe work environment.
Other duties as assigned.