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Cash Application Specialist

Company: Chesapeake Regional Healthcare
Location: Chesapeake
Posted on: September 17, 2022

Job Description:

The Cash Application Specialist performs all forms cash application transactions/ cashiering transactions, balancing system transactions to banking deposits and account reconciliation of the collection of funds from all insurance carriers and patients. The Cash application Specialist is responsible for assisting Patient Accounting personnel with questions, concerns, and problems regarding posted transactions in an accurate and timely manner. Essential Duties and Responsibilities These duties and responsibilities described below represent the general tasks performed on a daily basis; other tasks may be assigned. + Post and balance cash and checks collected and prepare daily bank deposits + Maintain cash control in excess of $30 million per month + Coordinate and process mail or correspondence payments for the same day deposit + Coordinate and process posting of all electronic 835 and paper/manual transaction remittances + Keep abreast of all contractual arrangements with third party insurance carriers (HMO's, PPO's, etc.) in order to correctly process insurance remittances + Note cash discrepancies as outlined in the cash collection policy and procedures to the cash clearing log/GL account + Coordinate all filing of associated reports and receipts, and maintain detailed record of the unapplied cash account and returned check log + Answer phones within two rings when possible, and return calls/relay messages in a timely manner + Greet patients in a timely and professional manner + Have a working knowledge of Patient Financial Services in order to explain, advise, or collect or post payments on accounts + Obtain correct and pertinent information from the patient or payer as needed for billing and follow up purposes + Enter and analyze information in billing system(s) to record action in clear, concise manner, and to make decisions on how to proceed with account(s) + Make sure appropriate documentation, correspondence, emails, remittances etc. are scanned to the account for accurate documentation of work performed + Read and understand the explanation of benefits from all payers + Post accurate patient payments, insurance payments, and make adjustments as appropriate per billing and payment policies and procedures, payer explanation of benefits, or management directive + Direct questions regarding charging and or care concerns to the manager or director with proper document research and notes + Complete cross training as deemed necessary by management + Complete special projects and analysis as assigned in a timely manner as directed by management + Read and understand patient accounts, human resources, and hospital policies and procedures + Always display professional and appropriate communications with co-workers, patients, and payers + Maintain strict confidentiality of all patient financial and hospital information + Report potential or identified problems with systems, payers, and processes to the manager, providing supporting materials as necessary 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. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Education and Experience Minimum Required Education: High school Preferred Education: College degree and CRCS Experience: 2 years of posting electronic 835 and manual remittances from insurance companies Certificates, Licenses, Registrations Preferred Certification - CRCS

Keywords: Chesapeake Regional Healthcare, Chesapeake , Cash Application Specialist, Accounting, Auditing , Chesapeake, Virginia

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