Payment Application Specialist

Overview

This opportunity is offered through a partner company located in the United States, seeking a Payment Application Specialist to join their team. The role centers on ensuring precise and timely handling of healthcare payments, reconciling accounts, and managing financial transactions. This position supports revenue cycle functions by posting payments, addressing discrepancies, and keeping accurate financial documentation. Collaboration with payment platforms, banking systems, and internal departments is essential to maintain smooth cash application workflows. Ideal candidates are detail-oriented, organized, and communicative, thriving on resolving issues and enhancing processes within a healthcare finance setting.

Key Responsibilities

• Process electronic remittance data and post payments accurately in healthcare financial systems.
• Manually record payments from remittance documentation when necessary.
• Investigate and resolve payment transactions that are erroneous or require further examination.
• Identify payments that lack proper classification and allocate funds correctly to accounts or ledgers.
• Reconcile payment records with bank deposits using financial software and reports.
• Ensure payment applications meet department timelines and accuracy standards.
• Maintain comprehensive documentation of account activities and financial records.
• Analyze and reconcile patient payments, non-receivables cash, and other payment inputs.
• Create, manage, and assign batches for cash management tasks.
• Review payment queues to resolve errors, discrepancies, credits, and undisbursed amounts.
• Handle refund requests from payors, internal departments, and other parties.
• Investigate instances of insurance overpayments and implement corrective actions.
• Support specialized billing processes ensuring timely application of required payments.
• Coordinate with accounting teams to preserve accurate reconciliation and reports.
• Communicate effectively with insurers, employers, banks, and internal teams to settle payment issues.
• Stay updated on payment policies, payer requirements, and regulatory collection guidelines.
• Assist in reporting, auditing, and initiatives aimed at improving revenue cycle operations.

Qualifications

• High school diploma or an equivalent credential is required.
• Preferred: At least one year of experience in medical billing, bookkeeping, medical office, or cash balancing roles.
• Experience with healthcare payment processing or revenue cycle operations is desirable.
• Familiarity with patient accounting standards and procedures.
• Knowledge of third-party payors, insurance processing, and payment requisites preferred.
• Understanding of medical terminology is a plus.
• Awareness of ICD-10 and CPT coding processes is advantageous.
• Proficient computer skills with ability to learn healthcare and financial software systems.
• Experience using online banking or payment platforms is beneficial.
• Strong communication abilities, both oral and written.
• Exceptional customer service orientation and professional telephone manners.
• Adept at analyzing information, resolving discrepancies, and prioritizing tasks.
• Meticulous attention to detail and high organizational capability.
• Ability to work both autonomously and collaboratively within cross-functional teams.

Benefits

• Full-time employment with a supportive work environment.
• Competitive salary package.
• Healthcare and wellness offerings as part of employee benefits.
• Opportunities for professional advancement and continuous learning.
• Work within a collaborative healthcare finance operations setting.
• Stable position focused on key revenue cycle processes.
• Workplace culture that fosters financial and healthcare knowledge development.