Manager Cash and Credit Applications
1 week ago
PURPOSE OF POSITION:
Provides leadership oversight for cash application, timely recording and balancing/reconciliation of patient and non-patient funds, credit card: (device and usage cost, inventory control). Ensures all payments and refunds are posted to the within 7 business days of receipt.
PRIMARY DUTIES AND RESPONSIBILITIES
- Support, oversee, and manage the performance and productivity of staff performing cash application, vendor management and customer service and pre-defined goals/targets, while providing continual feedback and guidance to the team
- Oversee posting of all payments and refunds to the appropriate accounts in compliance with stated policies and procedures
- Ensure that all cash balancing processes are completed accurately and timely, with clear documentation and reporting mechanisms in place to verify compliance with performance expectations and organizational policies. Oversee the creation and maintenance of audit trails to provide proof of accurate cash resolution and reconciliation
- Develop, implement, and manage efficient and effective operational policies, procedures, processes and performance monitoring across all administrative functions
- Ensure all staff and vendors comply with established policies, processes and quality assurance programs and implement corrective actions as required
- Ensure vendor relationships are generating required return on investment
- Confirm tracking mechanisms are in place to ensure that patient complaints are addressed timely and correspondence is worked timely and accurately
- Define, implement, and monitor strategies to improve overall processing efficiency
- Monitor performance of Lockbox Vendor to ensure contractual obligations are being fulfilled and performing correctly. Interface with internal IT department and vendor to resolve system issues
- Responsible for implementing new cash posting systems including initial set up, testing, training and post implementation performance monitoring
- Perform ongoing Quality Assurance analysis of cash posting routines and recommend strategies to resolve any issues identified
- Develop and deliver organized communications to management, Sr. Leadership and other departments regarding deficiencies, developments and opportunities affecting the organization with regard to payment posting and payment variances
- Maintain up-to-date knowledge of regulatory and compliance changes impacting area of responsibility and ensure employees are appropriately educated and processes are modified as needed
- Manage to applicable Key Performance Indicators (“KPIs”). Defines and implements action plans when performance is not meeting expectations
- Assess direct reports’ performance on a consistent basis and provide feedback to reward effective performance and enable proactive performance improvement steps to be taken
- Assess workflow prioritization on a daily basis to confirm that metrics and benchmarks are consistently achieved
- Manage payment portal, credit card merchant and banking automation vendor relationships
- Coordinate with peers across the revenue cycle organization, and with related stakeholders, on vendor management and customer service as relevant
Consistently provide service excellence to all patients, family members, visitors, volunteers and co-workers in a manner that reflects Cape Cod Hospital’s commitment to CARES: compassion, accountability, respect, excellence and service.
EDUCATION/EXPERIENCE/TRAINING
- Bachelor's degree required or equivalent combination of education and experience. Master’s degree preferred
- Required three to five years of experience in cash application and revenue cycle administrative support functions with at least two years in a supervisory capaci
- Minimum five years’ experience with cash management, banking and auditing requir
- Experience and knowledge of third-party reimbursement and eligibility processes and regulations
- Required three to five years of demonstrated experience with Epic or comparable software applications
- Ability to evaluate personal performance against established goals
- An understanding of the psychology of complex corporate relationships, and an ability to influence within such an environment
- Excellent communication, leadership, delegation, and interpersonal skills
- Ability to communicate with and present to a wide variety of CCHC and external users, including senior management and physicians, as well as outside vendors and consultants
- Demonstrated goal-oriented thinking, operational and organizational skills
- Ability to work under pressure and manage multiple initiatives concurrently; must be able to work independently, set own priorities and meet deadlines
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