Cash Application Specialist

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.

About the role

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

• High School graduate or equivalent required
• Minimum 3 years’ experience in healthcare revenue cycle, specifically payment posting and cash reconciliation

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
• 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

Pay

$21.00–23.00/hour based on skills/experience

Benefits

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 and flexible savings accounts
• ID protection plan
• Accident, critical illness, and hospital benefits
• Paid holidays and paid time off