Payment Specialist I
Advanced Spine and Pain, Phoenix, AZ, United States
Essential Functions
The Payment Specialist I position is responsible for posting all payments and correspondence to accounts efficiently and effectively and will assist with payer recoup and refunds. This role plays a critical part in ensuring accurate billing, timely reimbursements, and effective management of accounts receivable
Perform payment posting including contractual obligations, write-offs, refunds, recoupments, and denials in accordance with company procedures
Post all correspondence in accordance with company procedures
Retrieve and organize Explanation of Benefits (EOBs) from clients, clearing houses, and insurance portals
Analyze and resolve payer recoupments and refund requests, reviewing for validity and taking necessary steps to work towards repayment
Review, resolve and maintain clearing of unapplied payments monthly
Manage un-postables in billing software, matching remits to EFT payments received
Identify payers with payment posting issues
Accurately correct payment posting errors
Identifies, researches, and resolves payments that are missing remit information
Identifies and analyzes trends in underpayments, overpayments, denials, and revenue opportunities to recommend process improvements.
Documentation of all work performed in multiple billing software programs
Education
High School Diploma /GED or equivalent working knowledge preferred
Experience
3+ years’ experience with payment posting and account reconciliation
Knowledge
Experience working with all commercial and government payor portals
Experience in NextGen Office and AdvancedMD preferred
Strong understanding of medical billing and coding systems
Knowledge of insurance denials and reason coding
Skills
Exceptional attention to detail and accuracy
Excellent communication and problem-solving skills
Ability to manage multiple tasks and prioritize effectively
Experience with Microsoft Office 365 applications including Outlook, Word, Excel and Teams
Abilities
Ability to interact effectively with management, physicians, and teammates at all levels.
Ability to communicate with teammates and management both in oral and written form.
Ability to be able to meet deadlines in a fast-paced, quickly changing environment.
Ability to treat confidential information with appropriate discretion.
Environmental Working Conditions
Normal office environment.
Physical/Mental Demands
Requires sitting and standing associated with a normal office environment.
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Perform payment posting including contractual obligations, write-offs, refunds, recoupments, and denials in accordance with company procedures
Post all correspondence in accordance with company procedures
Retrieve and organize Explanation of Benefits (EOBs) from clients, clearing houses, and insurance portals
Analyze and resolve payer recoupments and refund requests, reviewing for validity and taking necessary steps to work towards repayment
Review, resolve and maintain clearing of unapplied payments monthly
Manage un-postables in billing software, matching remits to EFT payments received
Identify payers with payment posting issues
Accurately correct payment posting errors
Identifies, researches, and resolves payments that are missing remit information
Identifies and analyzes trends in underpayments, overpayments, denials, and revenue opportunities to recommend process improvements.
Documentation of all work performed in multiple billing software programs
Education
High School Diploma /GED or equivalent working knowledge preferred
Experience
3+ years’ experience with payment posting and account reconciliation
Knowledge
Experience working with all commercial and government payor portals
Experience in NextGen Office and AdvancedMD preferred
Strong understanding of medical billing and coding systems
Knowledge of insurance denials and reason coding
Skills
Exceptional attention to detail and accuracy
Excellent communication and problem-solving skills
Ability to manage multiple tasks and prioritize effectively
Experience with Microsoft Office 365 applications including Outlook, Word, Excel and Teams
Abilities
Ability to interact effectively with management, physicians, and teammates at all levels.
Ability to communicate with teammates and management both in oral and written form.
Ability to be able to meet deadlines in a fast-paced, quickly changing environment.
Ability to treat confidential information with appropriate discretion.
Environmental Working Conditions
Normal office environment.
Physical/Mental Demands
Requires sitting and standing associated with a normal office environment.
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