The Payment Specialist I is responsible for posting all payments and correspondence to accounts efficiently and effectively and will assist with payer recoup and refunds. This role plays a critical part in ensuring accurate billing, timely reimbursements, and effective management of accounts receivable
ESSENTIAL FUNCTIONS
Tasks and duties include but are not limited to:
- Perform payment posting including contractual obligations, write-offs, refunds, recoupments, and denials in accordance with company procedures
- Post all correspondence in accordance with company procedures
- Retrieve and organize Explanation of Benefits (EOBs) from clients, clearing houses, and insurance portals
- Analyze and resolve payer recoupments and refund requests, reviewing for validity and taking necessary steps to work towards repayment
- Review, resolve and maintain clearing of unapplied payments monthly
- Management in billing software, matching remits to EFT payments received
- Identify payers with payment posting issues
- Accurately correct payment posting errors
- Identifies, researches, and resolves payments that are missing remit information
- Identifies and analyzes trends in underpayments, overpayments, denials, and revenue opportunities to recommend process improvements.
- Documentation of all work performed in multiple billing software programs
EDUCATION
· High School Diploma /GED or equivalent working knowledge preferred
EXPERIENCE
- 3+ years’ experience with payment posting and account reconciliation
KNOWLEDGE
- Experience working with all commercial and government payor portals
- Experience in NextGen Office and AdvancedMD preferred
- Strong understanding of medical billing and coding systems
· Knowledge of insurance denials and reason coding
SKILLS
- Exceptional attention to detail and accuracy
- Excellent communication and problem-solving skills
- Ability to manage multiple tasks and prioritize effectively
- Experience with Microsoft Office 365 applications including Outlook, Word, Excel and Teams
ABILITIES
- Ability to interact effectively with management, physicians, and teammates at all levels.
- Ability to communicate with teammates and management both in oral and written form.
- Ability to be able to meet deadlines in a fast-paced, quickly changing environment.
- Ability to treat confidential information with appropriate discretion.
ENVIRONMENTAL WORKING CONDITIONS
- Normal office environment.
PHYSICAL/MENTAL DEMANDS
· Good visual acuity, accurate color vision.
· Requires sitting and standing associated with a normal office environment.
· Some bending and stretching required.
Pay: From $21.00 per hour
Benefits:
- 401(k)
- Dental insurance
- Disability insurance
- Health insurance
- Life insurance
- Paid time off
- Vision insurance
Work Location: In person
