Senior Process Associate (Payment Posting)

Job Summary : The Payment Posting role is responsible for managing and accurately posting various types of payments into the healthcare billing system. This role requires attention to detail, basic analytical skills, and a willingness to learn about Explanation of Benefits (EOBs), insurance payments, and bank reconciliation processes. The specialist ensures that all financial transactions are recorded correctly and reconciled with bank accounts.

Roles & Responsibilites :

• Ensuring that all deposits are uploaded to the billing system daily.
• Post all personal, insurance and liability payments from Remittance and EOBs to appropriate accounts with minimum errors.
• Apply manual payments and auto payments to accounts for payor types of Medicare, Medicaid and Commercial Insurances.
• Analyze EOB information, including co-pays, deductibles, co-insurance, contractual adjustments, denials and more to very accuracy of patient balances.
• Ensure the posting of the deposit batches are reconciled to the bank account daily and all completed before month end.
• Assign proper adjustment transaction codes to contractual write offs and denials.
• Day and monthly reconciliation of all deposits to include lockbox, EFT, cash and credit cards.
• Monitor incoming payment inquiry for resolution.
• Review and post incoming ERA denied claims Posts and no pays in a timely manner.
• Assist in updating the Daily Reconciliation Log.
• Investigate the source of unidentified payment to ensure they are applied to appropriate accounts. If necessary, will contact the sender to clarify where the payment should be posted.
• Add appropriate denial codes and comments to assure all necessary appeals and post payment follow up can take place.

Required Experience, Skills and Qualifications:

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field preferred.
• Minimum of 2-3 years of experience in payment posting, medical billing, or a related financial role in the healthcare industry.
• Proficiency with healthcare billing software and electronic medical records (EMR) systems.
• Strong knowledge of Explanation of Benefits (EOBs), Remittance Advices, and various insurance payment processes (Medicare, Medicaid, and Commercial Insurances).
• Familiarity with financial reconciliation processes and tools.