Remittance Specialist, Cash Management Professional
3 weeks ago
At Hackensack Meridian Health, our mission is to transform healthcare and serve as a leader of positive change. Our team members are the heart of what makes us better. We help our patients live better, healthier lives – and we help one another to succeed.
Our culture is rooted in connection and collaboration, with a focus on supporting one another and our community. We prioritize competitive benefits and strive to create a positive work environment.
Job DescriptionThe Remittance Specialist, Cash Management Professional, will be responsible for daily remittance processing, reconciliation of bank deposits, and analysis of payment activity between the bank lockbox, daily deposits, EFT/ACH, and payment application system. They will act as a liaison between the department, financial reporting team, front-end registration, Patient Financial Services, and other departments regarding cash/payment-related inquiries.
This role requires strong analytical skills, attention to detail, and excellent communication skills. The successful candidate will ensure all workflow items are completed within the set turnaround time and meet quality expectations. They will also oversee all aspects of Cash Management, including identifying issues and recommending process enhancements for quality improvement.
This position involves working at multiple sites within the Hackensack Meridian Health (HMH) Network. The Remittance Specialist, Cash Management Professional, will play a key role in month-end closing by clearing assigned tasks, assisting with additional research, and/or posting as needed.
Responsibilities- Post and reconcile bank deposits with remittance and payment files, ensuring accurate posting and timely processing of incoming payments.
- Communicate with Payers, Clearinghouses, and other departments regarding missing remittances, opening tickets as requested.
- Ensure daily core functions are completed and balanced accurately, including posting of lockbox batches, remittance advice, and credit card exceptions.
- Track and trend exceptions to core business functions, reviewing errors on electronic remittance advice files and escalating to appropriate entities.
- Prepare Cash reports for management and Finance, as well as General ledger journals for deposits and forward to Finance.
- Act as a liaison for the department between Finance, Access, Patient Financial Services, the bank, internal IT, Electronic Data Interchange, agencies, and management on remittance-related queries.
- Associate's degree or equivalent experience.
- Minimum of 2 or more years of experience in physician billing, remittance processing, and/or a customer service-oriented position.
- Good accounting skills with emphasis on reconciliation.
- Excellent data entry skills.
- Good analytical skills.
- Must be able to quickly and accurately count money and checks.
- Excellent written and verbal communication skills.
As a Remittance Specialist, Cash Management Professional at Hackensack Meridian Health, you will enjoy a competitive salary, paid time off, and a comprehensive benefits package. You will also have opportunities for professional growth and development within our organization.
Estimated Salary$65,000 - $90,000 per year, depending on experience.
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