Cash Posting Specialist I

Ann & Robert H. Lurie Children's Hospital of Chicago • Chicago, IL

1d • Onsite

About The Position

Responsible for daily review and posting of insurance remittances and payments from patients, guarantors, third-party payers, and insurance companies, received electronically or in hard copy. The role reviews contractual adjustments taken by managed care payers and researches and resolves differences. It also distributes payments received by Patient Financial Services (PFS) that are intended for other Children Memorial Hospital entities and prepares documentation for Accounting to account for cash transactions related to patient accounts receivable. Timely processing, accuracy, and attention to detail are important to standard operational practices.

Requirements

• High school diploma or GED, or two to three years of related experience and/or training.
• Solid knowledge of Excel, including linking and creating formulas.
• Ability to enter or key high volumes of data rapidly and accurately.
• Analytical skills to identify errors.
• Bank reconciliation experience.
• EPIC experience.
• Knowledge of physician billing workflow, third-party payer procedures, governmental regulations, and managed care contracting to respond effectively to patient-account inquiries.
• Excellent customer service skills; professional, self-confident, dependable, and a team player.

Nice To Haves

• Math and accounting experience.
• Experience with electronic remittance advice software.

Responsibilities

• Apply electronic and hard-copy payments to the appropriate patient accounts daily.
• Process and reconcile lockbox, EFT, and credit-card postings in the practice management system.
• Process or transfer credits to the appropriate Children Memorial Hospital entities.
• Reconcile the Blue Cross Experience Report.
• Prepare journal entries and supporting documentation for Accounting for patient accounts receivable transactions.
• Review and correct contractual adjustments using managed care contract terms and governmental reimbursement regulations, including posting adjustments that were not applied before payment.
• Review payment and adjustment accuracy, verify amounts prorated to third parties and patients, determine next steps for remaining balances, and provide data to the person responsible for follow-up.
• Verify and apply credit-card transactions to reconcile monthly account statements.
• Reconcile bank statement reports daily.
• Process patient or third-party checks returned unpaid due to insufficient funds.
• Perform other duties as assigned.

Benefits

• Medical, dental, and vision insurance.
• Employer-paid group term life and disability insurance.
• Employer contribution toward a Health Savings Account.
• Flexible Spending Accounts.
• Paid Time Off (PTO) and paid holidays.
• Paid parental leave.
• 403(b) with a 5% employer match.
• Voluntary benefits, including 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 specialized behavioral health services and resources for employees and family members.
• Discounts on services at Lurie Children’s facilities.
• Discount purchasing program.
• Wellbeing programs.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED