Cash Applications Specialist

BioMatrix Specialty Pharm • Plantation, FL

122d

About The Position

The Pharmacy Cash Applications Specialist is responsible for performing the day-to-day prompt and proper daily reconciliation of major medical and pharmacy claims payments for AR related accounts. This position maintains the integrity of cash and A/R transactions to ensure maximum efficiency and accuracy of accounts receivable balances. This position processes ERA, EFT, Lockbox, and maintains petty cash and ensures the work follows all cash related procedures and financial control policies set by the finance department. Performs payment and adjustment posting both electronically and manually. Responsible for daily scanning of batches as applicable. Processes and applies all daily cash receipts, non-cash transactions, A/R adjustments, denials, write-offs, and credit balance refunds. Performs miscellaneous job-related duties as requested.

Requirements

• High School diploma or equivalent
• Minimum 3 - 5 years’ experience in medical/pharmacy setting cash posting
• Knowledge of Medical terminology
• Knowledge of Coding ICD-10, HCPCS, CPT, HER
• Understanding and knowledge of revenue cycle, insurance billing and payment/Banking reconciliation
• Maintains the strictest confidentiality of patient information in compliance with HIPAA, state and federal regulations
• Strong verbal and written communication skills to individuals and business at all different education levels
• Advanced computer skills and knowledge of Microsoft Office (Word, Excel, etc.)

Nice To Haves

• Certificate, associate degree or bachelor’s degree a plus, but not required
• CPR+ Pharmacy Software experience, a plus, but not required
• Caretend/Weinfuse experience

Responsibilities

• Preparing daily deposits as applicable
• Maintains daily deposit batch sheets
• Prepares cash batches by finding the batch and setting it up in the billing system
• Lock-Box deposits will be received with proper back-up/patient identification
• Reconcile posted checks received with checks deposited
• Review a claim rejection/denial, review the EOB, reconcile, make corrections appropriately
• Post cash and credit card payments to patient accounts and processes, if needed
• Apply the payments from EOBs, claims and other documents into the billing system to the proper patient account
• Posts refunds and processes per policy
• Enters the proper contractual adjustments from the Explanation of Benefits (EOB)
• Flag all payments that receive a contractual above 10%, denials and other unusual items for the collections department
• Posting of denials and zero pay
• Processes all incoming correspondence appropriately
• Compile and sort documents such as invoices and copies of checks
• Process write-offs according to internal policies and procedures
• Communicate with field, pharmacy staff, and patients when needed

What This Job Offers

• Education Level: High school or GED
• Number of Employees: 251-500 employees