Cash Operations – Lead, MSO Billing Office, Full-Time
Category: Allied Health
Location: Annapolis, MD
Posted Date: March 24, 2020
Under the limited supervision of the Cash Operations Manager, the Lead, Cash Operations is responsible for the daily and monthly bank reconciliation and coordinating the unit’s daily work to ensure payments, adjustments, denials and correspondence are posted accurately and reconciled to the system daily/monthly. The Lead, Cash Operations assigns the daily work load upon validation of bank deposit receipt, audits and monitors accuracy assigned work to completion. The Lead, Cash Operations, will coach and lead the team to meet targeted KPI’s by providing support, training and deploying best practices with the Manager of Cash Operations while adhering to federal, state and billing compliance guidelines.
Essential Job Duties:
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions:
The Cash Operations Lead is responsible for bank reconciliation, unit performance, work quality, efficiency and compliance with policies and regulations.
- Records monies received in multiple bank accounts daily and reconcile the posting of money to current and legacy AR systems on a daily and monthly basis with minimal supervision and assistance from Cash Operations Manager.
- Coordinates the day-to-day activities for the overall cash operations unit, distributes daily workload to individual team members as appropriate while ensuring best use of resources to complete work timely.
- Holds huddles with staff daily/ weekly to ensure staff assignments/projects are documented, communicated and supports staff as needed.
- Oversee resolution of unidentified payments located in multiple clearing accounts in addition to resolving misapplied payments.
- Audits and approves refunds on a weekly basis, coordinates with the accounts payable department and/or Credit Card Vendor to ensure checks and credit card refunds are processed and received/mailed by the appropriate payee.
- Prepares and reviews journal entries / money reclassifications for accuracy prior to month end close submission to Manager.
- Train, coach, and provide feedback to staff to meet team objectives and monthly KPI’s.
- Performs all duties of a cash operations specialist as needed on a daily/ monthly basis.
- Serves as a system administrator for systems and/or other cash related /payer websites.
- Performs other job-related duties as assigned.
Educational/Experience Requirements:High School Diploma or equivalent (GED) or technical school completion required.
- Three years cash application and reconciliation experience preferred.
- Intermediate level Microsoft Excel skills including ability to create formulas, pivot tables and perform v-lookups independently is preferred.
- Multi-division cash application processing experience with knowledge of lockbox of manual and electronic file processing and banking procedures for multiple accounts.
- Prior experience working with payers and clearinghouses to enroll and track 837 and 835 files.
- Highly organized with ability to plan daily, weekly, monthly and re prioritize as needed to ensure completion of work.
- One or more years’ experience performing posting of self- pay and insurance payments, adjustments, denials and correspondence manually and electronically required.
- Ability to lead a team of professional, support staff in a fast paced environment.
- Excellent intrapersonal and communication skills required to motivate the team and work collaboratively with external vendors /departments and units.
- EPIC Cash Management Tool and payment posting module experience preferred
- Experience working with Health Logic or other lock box conversion vendors preferred.
- Experience and knowledge in overall claims processing and insurance follow up collections preferred in a health care institution or multiple physician practice shared services environment.
Working Conditions, Equipment, Physical Demands:
There is a reasonable expectation that employees in this position will not be exposed to blood-borne pathogens.
Physical Demands –
The physical demands and work environment that have been described are representative of those an employee encounters while performing the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions in accordance with the Americans with Disabilities Act.
The above job description is an overview of the functions and requirements for this position. This document is not intended to be an exhaustive list encompassing every duty and requirement of this position; your supervisor may assign other duties as deemed necessary.
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