Payment Posting Specialist
Payment Posting Specialist
Payment Posting Specialists are responsible for recording payments received from insurance companies and patients into the billing system. They reconcile accounts, ensure accurate allocation of funds, and address any discrepancies in payments. Their work is essential in maintaining financial accuracy and supporting the overall revenue cycle management process.
Job Description:
- Accurately post payments received from insurance companies and patients into the billing system.
- Reconcile payments to ensure they match the claim and the patient’s account.
- Review and resolve payment discrepancies, including underpayments, overpayments, or missing payments.
- Process remittance advices (RAs) and explanation of benefits (EOBs) to ensure proper posting.
- Work closely with the billing and accounts receivable team to resolve payment issues and ensure timely payments.
- Maintain accurate records of all payment transactions and update patient accounts accordingly.
- Track and follow up on denied payments, submitting necessary documentation for reprocessing or appeal.
- Ensure compliance with payment posting guidelines, insurance payer policies, and healthcare regulations.
- Provide reports on payment status, adjustments, and outstanding balances to management.
Desired Candidate Profile:
- Proven experience as a Payment Posting Specialist or similar role in medical billing or accounts receivable.
- Strong knowledge of healthcare payment posting processes, insurance remittances, and EOBs.
- Ability to accurately post payments and resolve discrepancies in a timely manner.
- Familiarity with medical billing software and healthcare management systems.
- Excellent attention to detail and organizational skills to maintain accurate patient account records.
- Strong communication skills to collaborate with internal teams and external insurance providers.
- Ability to work in a fast-paced environment and manage multiple tasks simultaneously.
- Certification in medical billing, coding, or accounts receivable is a plus.