Payment Posting Specialist

The Payment Posting Specialist is responsible for accurately and efficiently posting payments received from insurance companies and patients into the healthcare provider's accounts receivable system. This position plays a critical role in ensuring the timely and correct application of payments, resolving discrepancies, and maintaining accurate financial records. The specialist will collaborate with other departments to streamline processes and support the revenue cycle. The goal is to maintain payment posting metrics within 72 hours of receipt of payment.

Responsibilities

• Accurately post payments from insurance companies, government programs, and patients into the appropriate accounts in the system. Ensure payments are properly coded and applied based on explanation of benefits (EOBs), ERA / remittance advice, and patient statements.
• Reconcile payments and adjustments to patient accounts. Identify and investigate discrepancies and take appropriate action to resolve issues.
• Work closely with the accounts receivable and billing teams to resolve denied or partially paid claims. Notify management team of any underpayments identified during the posting process.
• Make necessary adjustments to accounts based on overpayments, underpayments, or discrepancies in payments. Ensure proper adjustments are reflected in the patient account.
• Maintain high standards of accuracy and attention to detail when posting payments and managing payment records. Ensure all transactions are processed within established timelines.
• Respond to internal inquiries related to payment posting, providing timely updates on payment status, and resolving any issues that arise.
• Generate and review payment posting reports. Provide accurate information to management regarding payment trends.
• Adhere to healthcare industry regulations, including HIPAA, and ensure all payment posting activities comply with internal policies and external regulations.
• Work with the accounts receivable, billing, and collections teams to streamline payment posting processes, improve efficiency, and ensure accurate financial reporting.
• Stay up to date with updates in healthcare payment systems and ensure all new policies and protocols are adhered to during payment posting.
• Meet or exceed required accounts per day to meet HighFive and provider's expectations.

Requirements

Benefits