Financial Posting & Refund Specialist I, Hybrid

University of Maryland Medical System • Linthicum Heights, MD

7d • Hybrid

About The Position

Under general supervision, applies insurance and self-pay payment refunds on patient’s hospital accounts for the University of Maryland Medical Systems Central Business Office. Contacts insurance carriers for information and/or clarification regarding financial reimbursement or rejections. Identifies accounts with a credit balance that may be eligible for refunds. Researches all documentation relating to the account balance such as notes, remittances, etc. Analyzes all documentation provided to verify all payments and adjustments are posted to the account accurately. Processes refunds to patient accounts, maintaining appropriate knowledge and understanding of the payers. Reviews multiple hospital systems for outstanding self–pay balances. Transfers credit to outstanding accounts, corrects any incorrect payment/adjustment postings. Prepares refund request with all required documentation to be submitted Refund Specialist Team Lead and/or Manager for approval. Approved request arep ost ed and reports are prepared for accounting requesting refund checks. Reviews checks received from accounting for accuracy. Verifies checks are aligned with required documentation; ensures each account is notated with check number and amount and mailed to appropriate insurance companies.

Requirements

• High school diploma or equivalent (GED)
• One year cash posting or related experience

Nice To Haves

• Two years’ refund or accounts receivable experience
• Knowledge of payment reimbursement rules and contractual requirements from various payers

Responsibilities

• Applies insurance and self-pay payment refunds on patient’s hospital accounts.
• Contacts insurance carriers for information and/or clarification regarding financial reimbursement or rejections.
• Identifies accounts with a credit balance that may be eligible for refunds.
• Researches all documentation relating to the account balance such as notes, remittances, etc.
• Analyzes all documentation provided to verify all payments and adjustments are posted to the account accurately.
• Processes refunds to patient accounts, maintaining appropriate knowledge and understanding of the payers.
• Reviews multiple hospital systems for outstanding self–pay balances.
• Transfers credit to outstanding accounts.
• Corrects any incorrect payment/adjustment postings.
• Prepares refund request with all required documentation for approval.
• Posts approved refund requests.
• Prepares reports for accounting requesting refund checks.
• Reviews checks received from accounting for accuracy.
• Verifies checks are aligned with required documentation.
• Ensures each account is notated with check number and amount.
• Mails checks to appropriate insurance companies.

What This Job Offers

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