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Cash Application Specialist at LifeCare Home Health
Cash Application Specialist General Summary: The Cash Application Specialist is responsible for gathering, posting, and reconciling all payments received by Lifecare Home Health and all acquired companies. This requires daily posting of deposits and weekly and monthly reconciliation to all Lifecare HH accounting systems, lock boxes, and acquired agency’s bank accounts. Patient Population: N/A Essential Functions: Monitor clearinghouse for incoming payments.
Download 835s from clearinghouse and/or other payer websites for posting to Medicare/Commercial accounts. Retrieve and post remittances from applicable payer websites when the remittance is unavailable from the clearinghouse. Hand key remittances if an 835 is unavailable or not applicable to a specific payer. Notify Supervisor of trends or issues with importing or not receiving remittances from clearinghouse/online payment portals.
Review remittances for applicable adjustments and transfer the balance to MSP or patient responsibility when appropriate. May receive credit card information via mail or phone and process payment on the portal. Post credit card payments to applicable practice management system and balance payments monthly with accounting. Identify underpayments or overpayments, coordinate follow-up with Collector, and notify the appropriate billing supervisor.
Respond to questions related to payment applications and work closely with associates to resolve any account variances. Research and correct keying errors as needed. Daily pull all incoming batches of live checks processed for deposit through lockboxes and confirm each deposit has been posted & reconciled to the appropriate practice management system. Balance checks are posted to batch totals. Post-write-offs once approved by management before month end.
Post refund checks issued by accounting related to overpayment recoveries/credit balances reflected on Kinnser accounts. Monitor & record refund requests received monthly by agency location. Provide month-end bank file with summarized payment totals inclusive of all deposits processed within a close month, allocated by associated agency location. (Excel format) Account for total write-offs, refund requests, underpayments, overpayments, and credit balances, then submit each category on provided template each month.
Work closely with accountants to resolve month-end variances and reconcile items. ATS provider: Paylocity.