Reimbursement Specialist - Payment Posting

The Reimbursement Specialist, Payment Posting is responsible for accurately and promptly posting payer, institutional, and self-pay payments to patient and client accounts for Belay’s laboratory tests. The specialist collects remittance information from ACH, EFT, check, lockbox, and payer portal sources, reconciles every posting to deposits and billing records, and escalates discrepancies and posting errors for follow-up. Clean, timely cash application gives the Billing, Collections, and Appeals teams reliable account data to work from and gives leadership an accurate view of cash and accounts receivable. The specialist also contributes to payment posting SOPs and AR dashboarding. The specialist maintains full compliance with HIPAA and company policy throughout. This is a role based in Chicago, IL, with in-office presence expected 3 days per week with 2 days remote. Key Responsibilities Payment Posting and Cash Application Post ERA, ACH, EFT, lockbox, check, credit card, and patient payments to the correct patient accounts, claims, and lines of service. Post insurance payer payments, institutional payments (such as payments from hospitals and other client institutions), and self-pay patient payments, applying each to the correct invoice, claim, or account. Post adjustments, contractual allowances, deductibles, copays, coinsurance, recoupments, and denials accurately Apply contractual adjustments, refunds, and write-offs according to company policies and approval thresholds. Manually post payments from paper EOBs and checks when electronic posting is not available. Research and correct unapplied, misapplied, and unidentified payments and posting errors, and clear them promptly. Monitor incoming ERA and lockbox files to confirm every remittance received is posted and nothing is left unprocessed. Remittance Retrieval and Payer Follow-Up Identify, locate, and retrieve remittance information, including EOBs, from various payer-specific online portals. Obtain and review remittance detail and invoice references for institutional payments, and confirm which invoices and accounts each payment covers. Review EOBs, ERAs, and related payment documentation to confirm each payment is posted correctly and completely. Contact insurance payers and institutional payers as necessary to obtain detailed information regarding payments, missing remittances, and recoupments. Follow up on payments received without remittance detail and on remittances received without a matching payment. Reconciliation and Escalation Reconcile posted payments against daily deposits (ACH, check, and lockbox), payer and institutional remittances, self-pay receipts, and billing records. Match ACH and check deposits to the corresponding remittance data and resolve any variances between the amount deposited and the amount posted. Support daily and month-end close by providing reconciled, accurate posting totals to RCM leadership and finance as needed. Identify and escalation payment discrepancies, underpayments, denials, and posting errors to the appropriate team members with clear supporting detail. Route credit balances and overpayments for refund or recoupment processing according to policy. Pass denial information to the Appeals team in a complete, accurate form so appeals can begin without rework. Tracking, Reporting, and Compliance Maintain a clear record of posting activity, research performed, payer contacts, and corrections made to support audit readiness. Track posting volumes, unapplied cash, and open reconciliation items across payer, institutional, and self-pay payments, and report on status to RCM leadership. Assist with the development and maintenance of payment posting SOPs, including posting rules and workflows for payer, institutional, and self-pay payments. Work on developing AR dashboards that give RCM leadership visibility into cash posted, unapplied cash, and accounts receivable by payer, institution, and self-pay. Identify recurring posting issues and remittance problems, such as repeated short payments, missing remits, or payer data issues, and provide structured feedback to the team so they can be addressed at the source. Follow documented posting procedures and recommend updates when processes can be made more accurate or efficient. Maintain compliance with HIPAA, payer requirements, and company policies and procedures. Cross-Functional Collaboration Collaborate with billing, collections, appeals, and other revenue cycle team members to resolve payment issues. Work with finance or banking contacts as needed to trace and resolve deposit questions. Required Qualifications Education Bachelor’s degree in Health Information Management, Healthcare Administration, Business, Finance, Accounting, or a related field. Experience 3+ years of experience in medical billing or revenue cycle management, with direct payment posting responsibility. In-depth knowledge of EOBs, ERAs, ACH and check remittance, CPT and ICD-10 codes, and payer portals. Demonstrated experience reconciling posted payments to deposits, remittances, and billing records. Experience posting more than one payment type, such as payer, institutional or client, and patient self-pay payments. Preferred Qualifications Experience in a laboratory billing environment. Experience with payer portals and clearinghouse tools. Experience supporting month-end close or cash reconciliation with a finance team. Experience building or maintaining reports or dashboards in Excel or a BI tool. Experience documenting procedures or contributing to SOPs. Knowledge, Skills, and Abilities Strong data entry, reconciliation, and problem-solving skills. Strong mathematical skills and comfort validating payment amounts, adjustments, and balances. Analytical skills and comfort working with data to summarize AR and cash trends for leadership. High attention to detail and the ability to manage deadlines in a demanding environment. Ability to multitask effectively in a fast-paced, growth-stage environment with evolving processes and systems. Clear written and verbal communication skills for working with payers and internal teams. Highly organized, with the ability to keep thorough documentation and manage multiple priorities at once. Ability to work independently and collaborate with a team. Sound judgment and strict confidentiality when handling protected health information. #J-18808-Ljbffr Belay Diagnostics