Description
Summary
The Cash Application Specialist is responsible for completing all payment posting to patient accounts, reconciles payments and shortages for both paper and electronic EOBs. This position reports to the Manager of Patient Accounts
Essential Duties and Responsibilities
Analyze and interpret information on Remittance Advice (RA)/Explanation of Benefits (EOB)
Accurately apply lock box and electronic remittance payments to the appropriate patient claims and/or accounts in the billing system
Enter primary payer contractual adjustments according to fee schedules
Enter accurate reimbursement and transaction codes and adjustments for contractual and bad debt categories
Balance all posted amounts to check and batch amount; troubleshoot as necessary; resolve any out if balance transactions
Research difficult Remittance Advices for resolution to avoid posting to the unapplied account
Review credit balance report to initiate refund requests for both patient and insurance refunds
Ensures payments and adjustments are posted timely prior to month-end closing
Notes all payer rejected claims into billing system from EOBs.
Uses relevant functions of various billing and patient practice management systems
Ensures that Federal and state collection/follow-up requirements and regulations are achieved
Implement changes directed by regulatory agencies
Identify key issues and take appropriate action to ensure revenue maximization on individual accounts
Perform system maintenance on autoposting functions to ensure accurate posting of electronic remittance advice
Answers patient questions, inquires, and concerns regarding their accounts.
Other duties may be assigned
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, skill, and/or ability required. This individual must have regular, in-person, predictable attendance with the ability to work in a constant state of alertness and safe manner. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience
High school diploma or GED required. A minimum of 3-5 years of accounts receivable experience working in a healthcare setting or medical office environment required. Experience working with Explanation of Benefits (EOB) forms, understanding of adjustments based on fee schedules. Must have strong attention to detail, accuracy, and proficiency with numbers. Efficient ten-key calculator skill and excellent analytical abilities. Ability to find and correct errors with minimal assistance. Good verbal and organizational skills
Computer Skills
Computer proficiency in MS Office (Word, Excel, Outlook).
Physical Demands
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is frequently required to talk, hear, stand, walk, reach with hands and arms, use hands to handle and feel. The employee must occasionally lift and /or move up to 25 pounds.
Work Environment
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.
Midwestern University is a private, not-for-profit organization that provides graduate and post-graduate education in the health sciences. The University has two campuses, one in Downers Grove, Illinois and the other in Glendale, Arizona. More than 6,000 full-time students are enrolled in graduate programs in osteopathic medicine, dentistry, pharmacy, physician assistant studies, physical therapy, occupational therapy, nurse anesthesia, cardiovascular perfusion, podiatry, optometry, clinical psychology, speech language pathology, biomedical sciences and veterinary medicine. Over 500 full-time faculty members and 400 staff members are dedicated to the education and development of our students in an environment that encourages learning, respect for all members of the health care team, service, interdisciplinary scholarly activity, and personal growth.
We offer a comprehensive benefits package that includes medical, dental, and vision insurance plans as well as life insurance, short/long term disability and pet insurance. We offer flexible spending accounts including healthcare reimbursement and child/dependent care account. We offer a work life balance with competitive time off package including paid holiday's, sick/flex days, personal days and vacation days. We offer a 403(b) retirement plan, tuition reimbursement, child care subsidy reimbursement program, identity theft protection and an employee assistance program. Wellness is important to us and we offer a wellness facility on-site with a fully equipped fitness facility.
Midwestern University is an Equal Opportunity/Affirmative Action employer that does not discriminate against an employee or applicant based upon race; color; religion; creed; national origin or ancestry; ethnicity; sex (including pregnancy); gender (including gender expressions, gender identity; and sexual orientation); marital status; age; disability; citizenship; past, current, or prospective service in the uniformed services; genetic information; or any other protected class, in accord with all federal, state and local laws, and regulation. Midwestern University complies with the Smoke-Free Arizona Act (A.R.S. 36-601.01) and the Smoke Free Illinois Act (410 ILCS 82/). Midwestern University complies with the Illinois Equal Pay Act of 2003 and Arizona Equal Pay Acts.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights (https://www.eeoc.gov/poster) notice from the Department of Labor.
