SUMMARY

The Payment Posting Specialist position is responsible for accurate and timely posting of insurance and patient payments, reconciliation of bank deposits, and appropriate use of applicable adjustment codes. This includes the posting of both electronic and manual payments into the PM system while resolving any electronic rejections. This individual will also assist the Insurance Billing Supervisor in creating and maintaining a daily, weekly, and monthly cash deposit log, ensure payments are deposited, posted, and reconciled by the close of month-end periods, and investigate unapplied cash to determine appropriate account allocation.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Post payments both electronically and manually into the practice management system according to set standards and productivity measures.
• Post approved contractual adjustments, denials, write-offs, and post reason codes for non-payment transactions.
• Move applicable amounts to identified insurance carriers or patient liability per department financial policies and procedures.
• Identify and correct misapplied payments and adjustments.
• Reconcile EOBs and cash deposits to maintain the appropriate allocation of cash receipts.
• Post and investigate unapplied cash to determine appropriate account allocation.
• Calculate chargebacks from Vision payers for material expenses and provide monthly updates to the finance department.
• Assist the Insurance Billing Supervisor in the creation and maintenance of a daily, weekly, and monthly cash deposit log.
• Identify and communicate cash deposit trends to RCM leadership.
• Review and audit refund requests as needed by ECP policies and procedures.
• Strive to maintain the posting of cash within 24 hours of receipt to the PM system.
• Ensure payments are deposited and posted to patient accounts and are reconciled before the close of each month-end period.
• Ensure the posting of payments and adjustments are done by ECPs policies
• Maintain a complete understanding of payment posting protocols and required software systems.
• Develop and maintain a working knowledge of payer rules and guidelines.
• Track trends, inconsistencies, or discrepancies and resolve and/or escalate to a supervisor as appropriate.
• Adhere to ECP confidentiality policy which includes verbal, written, computer-generated, computer accessed, filmed, and recorded information related to patients, their family and visitors, staff, physicians, clients and is responsible for the protection of the confidentiality of data at all times.
• Work safely and follows all ECP safety requirements, reporting all incidents, near misses, and adverse events.

QUALIFICATIONS

• Ability to type and enter data with proficiency and accuracy.
• Ability to operate essential office equipment, including multi-line phone, computer, fax machine, scanner, and photocopy machine.
• Ability to prioritize tasks and goals to meet established timelines.
• Experience in Optometry/Ophthalmology physician practice environment.
• Excellent customer service skills.
• Knowledge of medical terminology, healthcare coding systems, and clinics functions.
• Experience in the use of CPT and HCPCS.
• Knowledge of HIPAA compliance and Meaningful Use.

EDUCATION AND/OR EXPERIENCE

• Minimum Required: HS or G.E.D.
• Minimum Required: 2 years of billing, follow-up, or related experience

LICENSES AND CREDENTIALS

• Minimum Required:

SYSTEMS AND TECHNOLOGY

• Proficient in Microsoft Excel, Word, PowerPoint, Outlook.
• NextGen and Waystar software experience.

NOTE: Job descriptions are intended to be accurate reflections of those principal job elements essential for making fair pay decisions about jobs. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.