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Cash/ERA Reconciliation Analyst

2 months ago

Edison, United States Hackensack Meridian Health Full time

Overview

Our team members are the heart of what makes us better.

At Hackensack Meridian Health we help our patients live better, healthier lives - and we help one another to succeed. With a culture rooted in connection and collaboration, our employees are team members. Here, competitive benefits are just the beginning. It's also about how we support one another and how we show up for our community.

Together, we keep getting better - advancing our mission to transform healthcare and serve as a leader of positive change.

The Cash/ERA Reconcil Analyst, PB supports daily/weekly cash reconciliation functions for the physician network and reconciles bank deposits to assure timely posting of transactions to the patient's accounts to ensure lowest possible days in the account receivable in a cost-effective manner. Serve as a subject matter expert in EPIC remittance application and Cash Management module as well as legacy systems. This position is responsible for ensuring all cash received in the bank is properly and timely recorded. Identify all issues related to cash posting and recommend solutions as needed and work with management for resolution. This position is integral in ensuring the Accounts Receivable reflect accurate balance & timely processing of payments for accurate financial reporting. Capable of guiding teams in ensuring processes & procedures are being followed. Duties performed are at multiple sites within the Hackensack Meridian Health Medical Group.

Responsibilities

A day in the life of a Cash/ERA Reconciliation Analyst with Hackensack Meridian Health includes:

  • Monitors the Cash Management report & the EPIC Remittance Module to track posting status & inventory. Prepare weekly report on Remittance and Cash Management inventory to ensure Cash Management inventory is managed timely - identify issues and collaborate with management for resolution.
  • Performs adjudication of the accounts that have payment and/or denial postings across the Hackensack Meridian Health (HMH) physician network. This process verifies that the payment received for the account is equal to the expected reimbursement and to identify issues for management regarding significant variances on Accounts Receivable after payment is posted.
  • Ensure the Cash team follows the processes & policies established. Train team members of current & new processes.
  • Report discrepancies between the deposits and the corresponding remittance and payment files. Prepare monthly bank reconciliation; analyze and research variances and prepare reports summarizing findings for management review and Finance.
  • Open tickets with Clearinghouse and payers for missing Remittance.
  • Report to management payers that needs to be enrolled for 835/EFT. Complete 835 enrollments with payer and EFT enrollments with Bank to receive electronic funds instead of hard copy check if applicable.
  • Review patient and health plan refunds requests and complete the second level of approval. Complete weekly refund reconciliation to ensure timely processing and completion of refund requests. Report any issues identified to management, accounts payable and DTS team for resolution.
  • Research customer complaints and makes necessary adjustments and/or recommendations to resolve issues.
  • Responds to patient or payer phone inquiries regarding refund process and payment related inquiries.
  • Researches and verifies validity of daily credit card chargebacks.
  • Reconcile collection agency monthly payment postings.
  • Audit department's vendor invoices for accuracy, research discrepancies and outreach to vendors to resolve.
  • Analyzes and reconciles all non-cash transactions for Client submitter and Research/Study accounts. Ensures account postings and GL transfers are completed monthly
  • Assist in ensuring daily core functions of the Cash team are completed & balanced accurately.
  • Monitor unmatched cash is current and any backlog is resolved timely. May also include contacting the patient, insurance company, payee, bank, front line staff, or other entity to determine where the payment belongs or process refund for incorrect or unidentified payment received.
  • Supports annual external auditors' review by compiling data and analyzing trends and variances related to the Physician Group revenue cycle identified through the audit process.
  • Assist in creating policies & procedures to improve cash functions.
  • Audit Cash team`s output to ensure accuracy & productivity timeliness is being followed and met.
  • Attend weekly meetings with Finance/Accounting to ensure all Cash related questions are answered before the month end closing.
  • Assist in ensuring all processes for all locations are aligned.
  • Review and reply to various departments inquiry regarding Cash related matters
  • Can perform all Remittance Specialist & Cash Specialist functions.
  • Other duties and/or projects as assigned.
  • Adheres to HMH Organizational competencies and standards of behavior.

Qualifications

Education, Knowledge, Skills and Abilities Required:

  • Bachelor's degree in finance related field or equivalent experience.
  • Minimum of 2 or more years of experience in Health Billing.
  • Cash Posting and Reconciliation experience.
  • Excellent written and verbal communication skills.
  • Proficient computer skills that may include but are not limited to Microsoft Office and/or Google Suite platforms.

Education, Knowledge, Skills and Abilities Preferred:

  • Strong knowledge of accounting and banking systems.
  • EPIC experience/knowledge

Licenses and Certifications Required:

  • Must successfully pass completion of Epic assessment within 30 days after Network access granted.

If you feel that the above description speaks directly to your strengths and capabilities, then please apply today

Our Network

Hackensack Meridian Health (HMH) is a Mandatory Influenza Vaccination Facility

As a courtesy to assist you in your job search, we would like to send your resume to other areas of our Hackensack Meridian Health network who may have current openings that fit your skills and experience.