Payment Posting

3 weeks ago

Hyderabad Telangana, India vMD tech assist Pvt LTD Full time

vMD tech assist Pvt Ltd is hiring PAYMENT POSTING SPECIALIST.

minimum experience of 1 year.

Overview:
The Payment Posting Specialist is responsible for accurately recording and posting payments received from patients, insurance companies, and other payers into the healthcare organization's billing system. This role plays a crucial part in revenue cycle management by ensuring that payments are applied correctly, reconciling accounts, and maintaining accurate financial records. The Payment Posting Specialist collaborates with billing, accounts receivable, and finance departments to facilitate timely and accurate processing of payments.

Key Responsibilities:
1. Payment Processing:

- Receive and process payments, including checks, credit card payments, electronic funds transfers (EFT), and Explanation of Benefits (EOB) payments.
- Accurately post payments to patient accounts and insurance claims in the billing system according to established procedures.
- Verify payment details, including payer information, payment amounts, and dates, to ensure accuracy and completeness.

2. Reconciliation and Balancing:

- Reconcile payments posted against billing statements, remittance advices, and other payment documents to ensure accuracy and completeness.
- Investigate and resolve discrepancies or variances in payment amounts, posting errors, or missing payments.
- Balance daily payment batches and reconcile accounts receivable transactions to ensure accurate financial reporting.

3. Denial and Underpayment Management:

- Identify and flag denials, underpayments, and partial payments for further review and resolution.
- Work with billing and collections teams to investigate and address payment discrepancies, claim rejections, and payment posting errors.
- Follow up with payers to appeal denied claims, request additional information, or resolve underpayment issues.

4. Documentation and Reporting:

- Maintain detailed records of payment posting activities, including batch summaries, reconciliation reports, and payment adjustments.
- Generate reports and summaries of payment posting metrics, trends, and performance for management review.
- Provide analysis and insights on payment posting trends, discrepancies, and opportunities for process improvement.

5. Communication and Collaboration:

- Communicate effectively with internal departments, including billing, accounts receivable, and finance, to resolve payment-related issues and discrepancies.
- Collaborate with insurance companies, third-party payers, and payment processors to address payment inquiries and resolve outstanding balances.
- Provide support and assistance to billing and collections teams in identifying and resolving payment-related challenges.

Qualifications:

- Bachelor's or master's Degree (Preferrable) in life sciences, finance or business administration.
- 1-2 years of experience in healthcare payment posting, accounts receivable, or related field.
- Proficiency in medical billing and payment processing systems, such as Epic, Cerner, or Meditech.
- Knowledge of healthcare payment methodologies, including fee schedules, insurance contracts, and reimbursement policies.
- Strong attention to detail and accuracy in data entry and reconciliation tasks.
- Excellent analytical and problem-solving skills, with the ability to identify and resolve payment discrepancies.
- Effective communication and interpersonal skills, with the ability to collaborate with cross-functional teams and external stakeholders.

**Job Types**: Full-time, Fresher

**Salary**: ₹20,000.00 - ₹50,000.00 per month

**Benefits**:

- Leave encashment
- Paid sick time
- Paid time off
- Provident Fund

Schedule:

- Day shift
- Night shift

Supplemental pay types:

- Yearly bonus

**Experience**:

- total work: 1 year (preferred)

Work Location: In person

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