Payment Posting Executive

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.

Education: Bachelors 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.
Softwares: 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.