Cash Application Specialist

Cash Application Specialist

We are looking for a detail-oriented cash application specialist to join our team in Downers Grove, Illinois. This role is vital to ensuring accurate and efficient posting, reconciliation, and management of incoming payments within the healthcare industry. As part of a long-term contract position, you will contribute to maintaining financial accuracy while upholding compliance standards and supporting the overall revenue cycle.

Responsibilities :

• Accurately post daily payments from patients, insurance providers, and third-party payers to the correct accounts.
• Reconcile cash receipts with bank statements to identify and resolve discrepancies promptly.
• Investigate and address payment issues, including underpayments and misapplied funds, to ensure smooth operations.
• Handle refunds and payment adjustments in line with payer guidelines and patient requests.
• Research and process unapplied or unidentified payments to maintain accurate financial records.
• Ensure compliance with healthcare regulations and protect patient confidentiality.
• Utilize billing software and electronic remittance tools to streamline payment posting.
• Access payer portals to retrieve payment details for accurate cash application.
• Maintain adjustment records following organizational policies and procedures.
• Collaborate with team members to support efficient financial operations.

The salary range for this position is $25 to $32 / hour, plus bonus. Benefits are available including medical, vision, and dental, and life and disability insurance. Employees hired for our FTEP program are also eligible to enroll in our company's 401(k) or deferred compensation plan (if eligible). FTEP employees also earn paid time off for vacation, personal needs, and sick time and paid holidays.

Requirements :