Payment Posting Executive
1 month ago
**Job Title**: Revenue Cycle Management (RCM) Executive - Payment Posting and Charge Entry
**Job Summary**:
The RCM Executive for Payment Posting and Charge Entry plays a crucial role in the revenue cycle by ensuring that all charges are entered accurately, and payments are posted correctly. This position is responsible for managing day-to-day payment and charge entry tasks, verifying financial information, and addressing discrepancies. The role requires close attention to detail and a strong understanding of healthcare billing processes to maintain the integrity of financial transactions and enhance revenue cycle efficiency.
**Key Responsibilities**:
- **Payment Posting**:
- Post all patient and insurance payments accurately and promptly into the billing system.
- Reconcile payment batches daily, identifying and addressing any discrepancies.
- Post adjustments and denials, ensuring proper categorization and notation for further review if necessary.
- Collaborate with other departments to resolve payment-related inquiries and discrepancies.
- **Charge Entry**:
- Enter all charges into the billing system based on documented procedures and medical coding guidelines, ensuring accuracy and compliance with payer requirements.
- Verify all charges against supporting documentation and communicate with providers or billing staff to resolve any inconsistencies.
- Ensure timely charge entry to maintain efficient billing cycles and prevent delays in claims submission.
- **Quality Assurance**:
- Conduct regular audits of payment posting and charge entry transactions to identify and correct errors.
- Maintain and update policies and procedures related to payment posting and charge entry, ensuring compliance with company standards and regulatory requirements.
- Identify trends in charge entry or payment posting issues and suggest corrective actions or process improvements.
- **Collaboration and Communication**:
- Work closely with the billing, coding, and accounts receivable teams to ensure consistency and accuracy in the revenue cycle.
- Communicate effectively with internal stakeholders to resolve issues related to charges, payments, or denials.
- **Reporting and Documentation**:
- Prepare and maintain reports on payment posting and charge entry activities, providing insights into trends, discrepancies, or areas for improvement.
- Document all activities clearly, ensuring accurate records are maintained for compliance and auditing purposes.
**Qualifications**:
- **Education**: Bachelor’s degree in finance, Accounting, Healthcare Administration, or a related field preferred; relevant experience may substitute for formal education.
- **Experience**: Minimum of 2-3 years of experience in payment posting, charge entry, or related functions within healthcare revenue cycle management.
- **Software’s**: Proficiency in billing software **NextGen, eCW, HCHB**, and electronic health record (EHR) systems.
- **Skills**: Microsoft Office (Excel, Word). Knowledge of medical billing codes (CPT, ICD-10) is an advantage.
- **Attention to Detail**: Strong accuracy and attention to detail to ensure proper charge entry and payment posting, minimizing errors and discrepancies.
- **Problem-Solving Skills**: Ability to identify and resolve discrepancies effectively and efficiently.
**Preferred Qualifications**:
- Certification in healthcare billing or revenue cycle management (e.g., AAPC or HFMA certification).
- Familiarity with payer requirements, insurance billing processes, and regulatory guidelines in the healthcare industry.
Pay: Up to ₹450,000.00 per year
**Benefits**:
- Health insurance
- Provident Fund
Schedule:
- Day shift
Supplemental Pay:
- Performance bonus
**Experience**:
- total work: 2 years (preferred)
- Payment Posting: 2 years (preferred)
Work Location: In person
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