Cash Reconciliation Specialist (Medical Billing & Reconciliation)

About the Role

Chamberlain Advisors is partnering with a leading healthcare services organization to identify a Cash Reconciliation Specialist to support a large-scale historical cash reconciliation initiative for a healthcare organization. This consultant will focus on resolving a backlog of unapplied cash by performing detailed forensic reconciliations between bank activity and medical billing systems. The ideal candidate will possess strong accounting fundamentals, healthcare revenue cycle knowledge, and exceptional analytical skills. Success in this role requires the ability to identify discrepancies, investigate historical transactions, reconcile high volumes of financial data, and implement corrective actions that ensure accurate financial reporting and audit readiness.

What You Will Be Accountable For

• Perform detailed two-sided reconciliations between historical bank statements and the organization's medical billing/practice management system.
• Reconcile deposits, insurance payments, adjustments, write-offs, and cash applications to ensure complete financial accuracy.
• Match bank deposits with insurance remittances, payment postings, and billing system activity.
• Research and resolve variances between physical bank deposits and insurance remittance documentation, including Electronic Remittance Advices (ERAs) and Explanations of Benefits (EOBs).
• Analyze historical financial transactions to determine the root cause of reconciliation discrepancies.
• Investigate missing, duplicate, or incorrectly posted transactions.
• Review and resolve historical unapplied cash balances, suspense accounts, and unposted insurance payment batches.
• Properly allocate aged deposits and unmatched payments to the appropriate accounts.
• Ensure outstanding cash balances are accurately applied and documented.
• Reconcile high-volume merchant card activity, patient copay collections, and insurance disbursements against bank deposits.
• Balance multiple payment streams while maintaining accuracy across complex healthcare financial transactions.
• Prepare and document journal entries, billing adjustments, and correction entries required to resolve reconciliation differences.
• Maintain comprehensive documentation supporting all financial corrections and reconciliation activity.
• Ensure complete audit trails are available for both internal and external audit purposes.
• Identify recurring reconciliation issues and workflow gaps contributing to historical cash backlogs.
• Provide recommendations to improve banking, billing, and cash application processes.
• Support the implementation of best practices to reduce future reconciliation discrepancies.

What Qualifications You Need

• Associate's or Bachelor's degree in Accounting, Finance, Business, or a related discipline.
• Minimum of 3 years of experience in Corporate accounting, Cash reconciliation, Bank reconciliations, Medical cash applications, or Healthcare accounting.
• Experience working with healthcare revenue cycle processes and medical billing environments.
• Strong understanding of General ledger accounting, Bank reconciliation methodologies, Cash application processes, Sub-ledger reconciliation, Deposit clearing cycles.
• Working knowledge of Electronic Remittance Advices (ERAs), Explanations of Benefits (EOBs), Insurance payment posting, Healthcare reimbursement processes.
• Advanced Microsoft Excel including Pivot Tables, VLOOKUP, XLOOKUP, Data analysis, Data cleansing, Large dataset manipulation.
• Experience working within practice management systems or healthcare billing software.
• Strong proficiency with financial reporting and reconciliation tools.

Preferred Qualifications

• Experience supporting healthcare organizations, physician groups, urgent care, dental, or multi-site medical practices.
• Previous experience resolving historical reconciliation backlogs or cleanup initiatives.
• Familiarity with insurance payment posting, revenue cycle operations, and financial audit support.