Payment Posting Specialist

Join our team and make a difference! Apply now to become a Payment Posting Specialist and embark on a rewarding career journey with us! We look forward to working with you.

Department: Billing

Reports To: Director of Revenue Cycle Management

FLSA Status: Non-Exempt

Location: Remote

Job Summary: The Payment Posting Specialist plays a crucial role in our Billing Department by accurately processing and posting payments received from various sources. This position reports to the Director of Revenue Cycle Management. The Payment Posting Specialist ensures that all payments are applied correctly, reconciles discrepancies, and maintains accurate records of financial transactions. This position requires strong attention to detail, proficiency in billing software, and excellent communication skills to collaborate effectively with internal teams and external partners.

Essential Functions and Responsibilities:

1. Payment Processing: Accurately posts payments received via checks, electronic funds transfers, credit card payments, and other methods into the billing system.

2. Reconciliation: Performs regular reconciliations of payments received against invoices and accounts receivable records to ensure accuracy.

3. Problem Resolution: Investigates and resolves discrepancies between payments received and billed amounts, coordinating with relevant departments or external parties as needed.

4. Data Entry: Enters payment details, including payer information, payment amounts, dates, and payment methods, into the billing system with precision.

5. Documentation: Maintains comprehensive and organized records of all payment transactions, including supporting documentation such as remittance advice and explanation of benefits.

6. Reporting: Generates and will analyze reports related to payment posting activities, identifying trends, discrepancies, and/or areas for improvement.

7. Compliance: Ensures compliance with billing regulations, payer requirements, and internal policies and procedures related to payment processing and posting.

8. Communication: Collaborates closely with billing specialists, account managers, and other internal stakeholders to resolve payment-related issues and ensure accurate financial reporting.

9. Training and Support: Provides training and support to colleagues on payment posting processes, best practices, and software usage, as needed.

Physical Requirements/Typical Working Conditions and Environment:

This position is fully remote, requiring access to a reliable internet connection and a dedicated workspace. The Payment Posting Specialist will collaborate with colleagues and supervisors primarily via email, phone, and video conferencing tools. Flexibility in working hours may be required to accommodate deadlines or urgent issues.

Essential Physical Abilities:

Sight – sufficient to read physical documents, and images on a computer monitor.

Smell – sufficient to discern smoke/something burning, and other odors.

Hear – sufficient to hold face-to-face/telephone/video call conversations, and to discern other ambient noises.

Touch – sufficient to operate a keyboard, mouse, other standard office equipment, and writing implements.

Physical ability/strength – sufficient to sit or stand at a desk for a full shift.

Other Duties:

This job description does not comprise a full listing of activities, duties or responsibilities required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

• Previous experience in payment posting or accounts receivable, preferably in a healthcare or medical billing setting.
• Proficiency in billing software and Microsoft Office Suite, with advanced skills in Excel.
• Strong analytical skills and attention to detail, with the ability to reconcile financial data accurately.
• Excellent communication skills, both written and verbal, with the ability to collaborate effectively with internal and external stakeholders.
• CPAR, CRCR, or AHIMA/AAPC certification required.
• Ability to work independently in a remote setting while also functioning as part of a cohesive team.
• Knowledge of billing regulations, healthcare compliance, and payer requirements preferred.
• Ability to adapt to changes in processes, software, or regulations quickly and effectively.