Revenue Cycle Cash Reconciliation Analyst

Job Description

Job Description

Summary :

The Recon Analyst leads the RCM revenue reconciliation, Payment Posting and Credit Balance Team. The Analyst is responsible for developing and implementing Cash collections, banking reconciliation and payment posting procedures across regions. This includes but is not limited to daily banking and Practice Management system cash matching, refunds processing, Front office collections, live checks handling (office deposits) and credit card collections. Ensures compliance with regulatory and accounting guidelines are being met. The Analyst will coordinate between all departments i.e. SLT, operations, accounting and clinical operations staff. Communicates broadly and timely with RCM VP, Sr. Manager and Operations management on any issues. The Analyst ensures that the practice management system is recording transactions accurately and meeting accounting requirements for receivables posting. Troubleshoots and finds solutions for correcting systemic issues. The analyst keeps updated on changes in the industry which affect payment trends in revenue cycle. Understands industry KPI’s in Accounts receivables management and accounting principles for appropriate book to bank audit trail. Works with leadership on strategic initiatives to enhance efficiency and Payment posting automation across groups. The Analyst sets quality and compliance as top priorities.

Essential Duties and Responsibilities :

Performs the following duties, but not limited to :

• Creates standard operating procedures for reconciliation, RCM vendor management, front office deposits.
• Develops Credit Balance workflows in the various systems
• Builds cash tie out reports for bank matching.
• Oversights performance of payment posting internal staff and manages the team through production standards.
• Manages external Cash posting vendor, oversighting quality, production and invoice validation.
• Develops procedure for Operations managers to deposit and balance in-office and mailed-in collections.
• Serves as a resource for inquiries on deposits, payment posting, credit balances and refunds.
• Ensures accounting integrity for all revenue streams related to patient receivables.
• Tracks denial and underpayment trends; runs denial and payment reports.
• Keeps correspondence and denials posting up to date.
• Manages special projects across groups to improve credit balances, unposted / unidentified payments. Month end closing and collections efficiency.
• Creates collaborative communication with Operations / Finance / RCM leaders and providers.
• Reviews fee schedules; identifies deficiencies with Fee Schedules.
• Provides support to Credentialing for conversion of TIN with payors.
• Completes payor / clearinghouse enrollments for 835 electronic posting.
• Keeps a repository of W9’s & ach banking information. Respond to requests from payors and employers re. remittances.
• Maintains Credit Balances below 5%
• Understands the Practice Management systems and is able to make / recommend basic programming changes.
• Understands reporting system and is able to deliver Payment and credit analyses.
• Ensure Billing compliance and shares with management any areas of risk to effect corrective action.

Qualifications :

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills, and / or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and / or Experience :

Knowledge / Technical Skills :

Customer Service Skills :

Benefits :

At MBI, our commitment to providing accessible and convenient care to individuals injured at work is a team effort. Every employee and role are essential and valued. Rewarding the dedication and commitment of our employees extends beyond a paycheck. In addition to competitive salaries, we offer to full-time employees :

Equal Opportunity Employer