Financial Posting & Refund Specialist I, Hybrid

Responsibilities

• Under general supervision, applies insurance and self-pay payment refunds on patient’s hospital accounts for the University of Maryland Medical Systems Central Business Office.
• Contacts insurance carriers for information and/or clarification regarding financial reimbursement or rejections.
• Identifies accounts with a credit balance that may be eligible for refunds.
• Researches all documentation relating to the account balance such as notes, remittances, etc.
• Analyzes all documentation provided to verify all payments and adjustments are posted to the account accurately.
• Processes refunds to patient accounts, maintaining appropriate knowledge and understanding of the payers.
• Reviews multiple hospital systems for outstanding self–pay balances.
• Transfers credit to outstanding accounts, corrects any incorrect payment/adjustment postings.
• Prepares refund request with all required documentation to be submitted to Refund Specialist Team Lead and/or Manager for approval.
• Approved requests are posted and reports are prepared for accounting requesting refund checks.
• Reviews checks received from accounting for accuracy.
• Verifies checks are aligned with required documentation; ensures each account is notated with check number and amount and mailed to appropriate insurance companies.

Qualifications

• High school diploma or equivalent (GED)
• One year cash posting or related experience
• Preferred: Two years’ refund or accounts receivable experience
• Knowledge of payment reimbursement rules and contractual requirements from various payers