Cash Posting & Credit Balance Manager - Physician PFS - Revenue Cycle

What You Will Do

• The Cash and Credit Manager oversees cash application and credit balance operations, including the supervision of Cash Application Specialists and Credit Balance Specialists.
• This position is responsible for the accurate and timely posting of accounts receivable payments and adjustments, reconciliation of accounts and daily deposits, resolution of credit balances and unidentified payments, and processing of internal and external refund requests.
• The manager oversees cash and adjustment posting systems, processes, and workloads; prepares payment summary information for Accounting and Business Office Management; and ensures timely responses to patient, client, and internal inquiries.
• The role requires comprehensive knowledge of payment processing, the ability to independently execute responsibilities, and adherence to established audit procedures, segregation of duties, and governmental regulations.
• Performs other related duties as assigned.

Essential Job Functions

• Account Analyzing
• Account Reconciliation
• Cash Posting
• Cash Reconciliation
• Balancing Daily Deposits and Control Logs
• Monitoring Credit Inventory
• Setting credit work priorities
• Setting EOM expectations
• Collaborating with onshore and offshore leadership
• Managing both team effectively to meet and maintain KPI and SLA targets

Duties and Responsibilities

• Supervises cash application and credit balance specialists, manages credit balance workloads, and oversees cash and adjustment posting systems and processes supporting patient financial services.
• Ensures payments and adjustment transactions are accurately identified and posted to patient accounts, client accounts, and the general ledger, including appropriate contractual adjustments.
• Oversees the timely and accurate resolution of credit balances and processing of internal and external refund requests.
• Receives, identifies, and batches over-the-counter payments for posting; completes control logs, balances receipts and daily bank deposits, and prepares payment summaries for Accounting and Business Office Management.
• Posts electronic remittances from third-party payers to the patient accounting system and reconciles electronic funds transfers to the corresponding remittances.
• Analyzes and reconciles accounts, researches and corrects posting errors and accounting discrepancies, and resolves unidentified payments through research and appropriate adjustments.
• Researches and responds promptly to internal and external inquiries and requests for information, including patient inquiries received by telephone and mail.
• Maintains accurate, clear, concise, and complete account notes and supporting information; updates patient demographic information and initiates appropriate account adjustments.
• Identifies trends in credit balances and account discrepancies and escalates issues as appropriate.
• Works to resolve account balances to zero before accounts are forwarded to an outside collection agency.
• Maintains appropriate separation of duties and complies with established audit procedures and applicable governmental regulations.

What You Will Need

• Requires a Bachelor's Degree and a minimum 7 years' or an Associates Degree and a minimum 9 years' of prior relevant experience. (Relevant experience may be substituted for formal education or advanced degree).
• Previous experience within a healthcare provider, payor, insurance, professional business or an outsourcing company.
• Of the seven years of relevant experience required, a minimum of two years must include people management experience.

What Would Be Nice To Have

• 3+ years cash//credit/adjustment experience with a healthcare provider or an outsourcing company.
• Multiple systems experience
• Knowledge and utilization of desktop applications to include Word and Excel.
• Ability to initiate and follow through on projects and work independently.
• Strong written and verbal communication skills.
• PC skills in a Windows environment.