Payments Specialist

Job description

Description Position Summary: The Payments Specialist is responsible for accurately posting, reconciling, and managing insurance payments for behavioral health providers. This role ensures that all revenue received from insurance as a direct result of Compass' billing efforts is accurately recorded and tracked. The Payments Specialist plays a key role in supporting the financial health of both Compass and its clients by maintaining clean payment data, identifying underpayments or missed revenue opportunities, and collaborating with third-party vendors to optimize reimbursement outcomes. Requirements: Essential Duties and Responsibilities: - Accurately post and reconcile insurance payments and electronic remittances (ERAs) - Review and interpret Explanation of Benefits (EOBs) to ensure correct allocation of payments and adjustments. - Identify and escalate denied claims, underpayments, and payment discrepancies. - Coordinate with third-party vendors to mitigate cost-containment impacts and support repricing workflows. - Enter claim data into Compass’ workflow-management platform to support repricing and payment negotiation processes. - Monitor for opportunities to recover additional...