Cash Applications Specialist

4 weeks ago

Elkridge, United States MEDSTAR HEALTH Full time

**General Summary of Position**

MedStar Ambulatory Services is currently seeking a Cash Applications Specialist to join the team This is a full time, Monday-Friday position, with a hybrid schedule after the successful completion of the 90-day probationary period. Hybrid schedule includes working remotely on Mondays & Fridays and working on-site Tuesday - Thursday. Business office is located in Elkridge, Maryland.

**Job Summary**:

- MedStar Ambulatory Services is committed to providing world-class, compassionate care to every patient, every time, at every touch point. All associates are accountable for their role in meeting patient experience standards. Under the supervision of the Reimbursement Manager, processes daily deposits into system accurately. Receives, verifies, processes and maintains all payments and adjusts accurately and in a timely manner. Ensures daily cash reconciliation. Researches and corrects account overpayments and account credits. Completes accurate and timely collections on a monthly basis relative to self-pay balances.

**Primary Duties and Responsibilities**
Accesses, retrieves, and prints all applicable cash back-up, including lockbox and all corresponding EFT's and checks using applicable systems such as Cash Pro, clearinghouse, and payer websites. Batches and posts payments, reconciling each batch as they are completed.
- Meets departmental productivity standards.
- Processes adjustments, transfers, misapplied payments and refund requests within 48 hours of receipt. Acts as intermediary for resolution of problems related to payment posting.
- Secures, processes and posts all forms of payment for daily bank deposit to patient accounts within 48 hours of receipt and with 100% accuracy. Researches explanation of credit balance accounts when necessary.
- Reconciles daily deposits with the bank log to confirm all deposits were received and logged on a daily basis. Researches any issues or out of balance situation with the bank log. Logs and maintains spreadsheet for all cash collections including credit card, credit balances and refund transactions on a daily basis. Reviews self-pay balances monthly for accuracy and send collection letters according to policy. Identify and prepare accounts for submission to outside collection agency for processing.
- Researches returned mail for updated addresses.

**Minimum Qualifications**
**Education**
- High School Diploma or GED equivalent required

**Experience**
- 2 years cashier, account reconciliation, accounting or banking experience preferred

**Knowledge, Skills, and Abilities**
- Basic knowledge of accounting, billing and collection principals.
- Analytical ability to prepare and interpret system generated accounts receivable reports.
- Excellent organizational skills.
- Attention to detail.
- Excellent problem solving skills.
- Ability to follow instructions and take initiative.
- Good verbal and written communication skills.

**Why MedStar Health?**
At MedStar Health, we understand that our ability to treat others well begins with how we treat each other. We work hard to foster an inclusive and positive environment where our associates feel valued, connected, and empowered. We live up to this promise through:

- **Strong emphasis on teamwork - **our associates feel connected to each other and our mission as an organization. In return, our effective team environment generates positive patient outcomes and high associate satisfaction ratings that exceed the national benchmark.
- **Strategic focus on equity, inclusion, & diversity - **we are committed to equity for all people and communities. We continue to build a diverse and inclusive workplace where people feel a sense of belonging and the ability to contribute to equitable care delivery and improved community health outcomes at all levels of the organization.
- **Comprehensive total rewards package - **including competitive pay, generous paid time off, great health and wellness benefits, retirement savings, education assistance, and so much more.
- **More career opportunities closer to home - **as the largest healthcare provider in the Baltimore-Washington, D.C. region, there are countless opportunities to grow your career and fulfill your aspirations.

**About MedStar Health**
MedStar Health is dedicated to providing the highest quality care for people in Maryland and the Washington, D.C., region, while advancing the practice of medicine through education, innovation, and research. Our team of 32,000 includes physicians, nurses, residents, fellows, and many other clinical and non-clinical associates working in a variety of settings across our health system, including 10 hospitals and more than 300 community-based locations, the largest home health provider in the region, and highly respected institutes dedicated to research and innovation. As the medical education and clinical partner of Georgetown University for more than 20 years, MedStar Health is dedicated not only to teaching

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