How have you impacted someone's life today? At Hackensack Meridian Health our teams are focused on changing the lives of our patients by providing the highest level of care each and every day. From our hospitals, rehab centers and occupational health teams to our long-term care centers and at-home care capabilities, our complete spectrum of services will allow you to apply your skills in multiple settings while building your career, all within New Jersey's premier healthcare system.
The Remittance Specialist is responsible for daily remit processing, reconciliation, and analysis of payment activity between the bank lockbox, daily deposits, and payment application system. Acts as a liaison between the department, financial reporting team, front end Registration, Patient Financial Services, and other departments regarding cash/payment related inquiries. Ensures all workflow items are completed within the set turnaround time within quality expectations. Must also maintain the Cashier Window for the purpose of receiving payments and internal cash transactions.
A day in the life of Remittance Specialist at Hackensack Meridian Health includes:
- Reconciles bank deposits with remittance and payment files.
- Monitors the appropriate application (Epic Remittance Module & Invision) and creates reports to ensure that assigned electronic remits are accurately posted. Ensures incoming payments are processed correctly and timely.
- Follows up if the file is missing or the corresponding cash is not received.
- Ensures daily core functions are completed and balanced accurately including posting of lockbox batches, remittance advices, and credit card exceptions.
- Ensures 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.
- Tracks and trends exceptions to core business functions (ERA exceptions, reconciliation items, TCE, etc.).
- Reviews errors on electronic remittance advice files and escalates to appropriate entity.
- Communicates with the payer to resolve undistributed balance.
- Provides back up to Window Cashier.
- Disburses change fund to cafeteria and other areas of the hospital, accepts and deposits cash from various departments, and prepares and distributes daily cash report to management.
- Responsible for general ledger journal entries for Finance.
- Acts 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. Plays a key role in month end closing by clearing assigned task, assisting with additional research and/or posting as needed.
- Oversees all aspects of cash management including identifying issues and recommending process enhancements for quality improvement.
- Assists in training and education of support staff.
- Reviews remittance advice or explanation of benefits received from the lockbox correspondence or agencies and enters appropriate action in the system.
- Processes and audits credit card payment and charge back.
- Adheres to the standards identified in the Medical Center's Organizational Competencies.
Education, Knowledge, Skills and Abilities Required:
- Bachelor's degree or equivalent experience.
- Knowledge of hospital or other billing system.
- Good accounting skills with emphasis on reconciliation.
- Excellent data entry skills.
- Good analytical skills.
- Knowledge of Microsoft Office (Excel, Word, Outlook) to work effectively in an office environment.
- Excellent communication and interpersonal skills.
- Must be able to quickly and accurately count money and checks.
Education, Knowledge, Skills and Abilities Preferred:
- Strong knowledge of banking systems.
- Epic experience/knowledge.
- Proficient in Windows applications and hospital billing systems.
If you feel that the above description speaks directly to your strengths and capabilities, then please apply today!
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.