Senior Executive - Payment Posting

We are seeking a highly competent and detail-oriented Senior Executive - Payment Posting to join our team. This role is a critical component of the revenue cycle, responsible for accurately and efficiently posting payments from various sources to patient accounts. The ideal candidate will have extensive experience in payment posting, a strong understanding of medical billing processes, and a commitment to maintaining financial accuracy and compliance.

Key Responsibilities:

• Receive and review payment documents, including Explanation of Benefits (EOBs), remittance advices, and electronic payment files.
• Match payments to corresponding patient accounts, verifying the accuracy of payment details.
• Accurately enter payment information into the healthcare organization's billing and accounting systems.
• Reconcile payments and adjustments to ensure they align with expected amounts based on contractual agreements and fee schedules.
• Identify and resolve discrepancies, such as underpayments, overpayments, or denials.
• Analyze and address denied or rejected claims by investigating the reason for denial, correcting errors, and resubmitting claims as necessary.
• Validate payments against expected reimbursement rates and established billing guidelines, escalating any discrepancies to the appropriate personnel.
• Generate and provide reports on payment posting activities, including payment trends, outstanding balances, and accounts receivable status.
• Adhere strictly to healthcare industry regulations, such as HIPAA, ensuring that all payment posting processes comply with established policies and procedures.
• Maintain patient confidentiality and the security of sensitive financial information.

Job Requirements:

• Prior experience in payment posting or healthcare revenue cycle management is required.
• A strong understanding of medical billing, coding, and reimbursement processes.
• Knowledge of medical terminology, and coding systems including CPT, HCPCS, and ICD.
• Familiarity with insurance payer guidelines, including Medicare and Medicaid.
• Proficiency in using healthcare billing systems and electronic medical records (EMR) software.
• Exceptional attention to detail and accuracy.
• Excellent analytical and problem-solving skills.
• Effective communication and interpersonal skills.
• The ability to work both independently and collaboratively in a team environment.