Reconciliation Specialist

Role Description

The Reconciliation Specialist is responsible for ensuring the accuracy and integrity of financial transactions related to patient accounts, insurance payments, and practice revenue. This role plays a critical part in maintaining financial compliance by reconciling payments, identifying discrepancies, and supporting revenue cycle optimization efforts within Carolina Oncology Specialists.

Key Responsibilities

• Perform daily, weekly, and monthly reconciliation of payments, including insurance remittances, patient payments, and electronic funds transfers (EFTs).
• Compare bank deposits, clearinghouse reports, and practice management system data to ensure alignment and completeness.
• Investigate and resolve discrepancies, including underpayments, overpayments, and unapplied cash.
• Work closely with billing, coding, and collections teams to correct posting errors and ensure accurate account balances.
• Monitor and reconcile accounts receivable transactions to support clean financial reporting.
• Validate contractual adjustments and payer reimbursement accuracy.
• Ensure timely posting and reconciliation of all revenue streams.
• Maintain detailed records of reconciliation activities and audit trails.
• Prepare and distribute reconciliation reports to leadership, highlighting trends and issues.
• Support internal and external audits by providing documentation and analysis.
• Assist in process improvement initiatives to strengthen revenue cycle efficiency and reduce errors.

Qualifications

• High school diploma or equivalent required; Associate’s or Bachelor’s degree in Accounting, Finance, or related field preferred.
• Minimum of 2–4 years of experience in healthcare finance, medical billing, or revenue cycle reconciliation.
• Strong understanding of insurance remittances (EOBs/ERAs), payment posting, and healthcare reimbursement processes.
• Proficiency in practice management systems and Microsoft Excel (including pivot tables and reconciliation functions).
• High level of attention to detail and accuracy.
• Strong analytical and problem-solving skills.
• Ability to manage multiple priorities and meet deadlines.

Preferred Qualifications

• Experience in oncology or specialty medical practice.
• Familiarity with payer contracts and reimbursement methodologies.
• Knowledge of regulatory guidelines related to healthcare billing and compliance.

Key Competencies

• Financial Accuracy & Integrity
• Analytical Thinking
• Problem Resolution
• Attention to Detail
• Collaboration & Communication
• Time Management

Working Conditions

• Primarily office-based role with extended periods of computer work.
• May require occasional extended hours during month-end close or audit periods.