Cash Application Specialist
$43,680,000–$47,840,000 year
On-sitePark Ridge, Illinois, United States
Job Summary
Post payments received via ACH, credit card, and lockboxes to corresponding patient accounts and allocate them in multiple EMR tools. Efficiently research, analyze, and post Electronic Remittance Files (ERAs/835s) and Explanation of Benefits (EOBs). Contact payers via phone, mail, and portals to resolve outstanding credits or locate patient information. Ensure successful month-end closing and reconciliation while correcting and escalating payment posting discrepancies. Efficiently resolve unapplied payments and refund inquiries in Epic workqueues. Participate in projects designed to improve cash application processes and identify trends to escalate to third parties. Meet all set performance requirements for quality and productivity while maintaining a positive relationship with other departments.
Required Qualifications
- High School graduate or equivalent
- 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
- 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
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