Payment Posting Specialist

Job description

Description The Payment Posting Specialist is responsible for accurately and efficiently posting payments received from insurance companies and patients into the healthcare provider’s accounts receivable system. This position plays a critical role in ensuring the timely and correct application of payments, resolving discrepancies, and maintaining accurate financial records. The specialist will collaborate with other departments to streamline processes and support the revenue cycle. The goal is to maintain payment posting metrics within 72 hours of receipt of payment. Responsibilities: - Accurately post payments from insurance companies, government programs, and patients into the appropriate accounts in the system. Ensure payments are properly coded and applied based on explanation of benefits (EOBs), ERA/remittance advice, and patient statements. - Reconcile payments and adjustments to patient accounts. Identify and investigate discrepancies and take appropriate action to resolve issues. - Work closely with the accounts receivable and billing teams to resolve denied or partially paid claims. Notify management team of any underpayments identified during the posting process. - Make n...