Cash Application Specialist

Organizational Profile

Founded in 1991, IBJI is the largest orthopedic group practice in Illinois. With more than 150 physicians in every orthopedic specialty, IBJI offers care for adults and children from some of the most accomplished and respected orthopedists in the country. Serving northern Illinois and northwest Indiana with over 100 locations, IBJI makes it easy to access care. Our headquarters is in Park Ridge, Illinois, a northwest suburb of Chicago. Our clinical services include advanced MRI imaging, pain management, non-surgical and surgical treatment plans, rheumatology,

physical therapy, occupational therapy, wellness, and sports and sports training. Ortho Access walk-in clinics provide same day care for orthopedic injuries. Comprehensive care offered all in one place enables physicians, therapists and staff to work closely together, so that patients and families achieve better outcomes. Collaborative care is also more efficient. In many cases, IBJI services are substantially less expensive than those provided by large healthcare systems and emergency rooms.

Job Title: Cash Application Specialist

Job Description

Summary

The cash application specialist will ensure all patient and insurance payments are posted

accurately, will resolve any discrepancies and identify valid insurance credits/refunds.

Responsibilities 

• Post payments received via ACH, credit card and lockboxes to corresponding patient
• accounts
• Efficiently research, analyze, and post Electronic Remittance Files (ERAs/835s) and
• Explanation of Benefits (EOBs)
• Contact payers via phone, mail and payer portals to resolve outstanding credits or to
• locate patient information
• Ensure successful month end closing and reconciliation
• Post and allocate payments in multiple EMR tools for several entities of IBJI
• Correct and escalate any payment posting discrepancies accordingly
• Efficiently resolve unapplied payments and refund inquiries in Epic workqueues
• Participate in projects designed to improve cash application processes or procedures
• Identify trends and escalate them to the corresponding third party
• Meet all set performance requirements for both quality and productivity
• Establish and maintain a positive relationship with other departments
• Maintain a clean and safe work environment.
• Other duties as assigned.

Requirements 

Education

• High School graduate or equivalent required

Certifications/Licensure

• Not applicable

Experience

• Minimum 3 years’ experience in healthcare revenue cycle, specifically payment posting and cash reconciliation

Technical Skills

• Ability to interpret Explanation of Benefits (EOBs), all ANSI codes and Provider Level Balance (PLB) adjustments
• Knowledge of Healthcare (professional) billing, CPT/ICD-10 coding, medical terminology, Medicare, Medicaid, HMO/PPO/EPO, Work Comp and Commercial insurance guidelines
• Strong computer literacy skills including proficiency in Microsoft Excel

Soft Skills

• Excellent organization skills, high attention to detail and proficiency in account management
• Results oriented with a proven track record of accomplishing tasks within a high-performing team environment

Physical Requirements

• Stand or sit for extended periods of time

This description is intended to provide only basic guidelines for meeting job requirements. Duties and responsibilities, experience, qualifications, skills, supervisory relationship, physical/mental demands, and environmental/ working conditions may change as needs evolve.

Base salary offers for this position may vary based on factors such as location, skills and relevant experience. We offer the following benefits to those who are benefit eligible (30+ hours a week):  medical, dental, vision, life and AD&D insurance, long and short term disability, 401k program with company match and profit sharing, wellness program, health savings accounts, flexible savings accounts, ID protection plan and accident, critical illness and hospital benefits. In addition, we offer paid holidays and paid time off.  

Illinois Bone and Joint Institute, LLC is an equal opportunity employer. All employment decisions are based on qualifications, merit, and business need, without regard to race, color, religion, age, sex, national origin, disability status, military or veteran status, sexual orientation, gender identity and expression, or any other characteristic protected by federal, state or local laws. This policy applies to recruitment and placement, promotion, training, transfer, retention, rate of pay and all other terms and conditions of employment.