Medical Billing Payment Posting Executive

Company Description

Atean Healthcare Solutions is a cost-effective organization specializing in Medical Coding and Medical Billing. The company is dedicated to providing accurate and efficient billing solutions tailored to meet the needs of healthcare providers. Through its expertise, Atean Healthcare Solutions helps optimize revenue cycle management and ensures seamless healthcare operation

Job Description:

The Payment Posting Executive is responsible for accurately posting insurance and patient payments into the medical billing system. The role involves reviewing Explanation of Benefits (EOBs), Electronic Remittance Advice (ERA), identifying payment discrepancies, and ensuring that all payments and adjustments are recorded correctly to maintain accurate financial records and support efficient revenue cycle operations.

Roles and Responsibilities:

1. Payment Posting

• Post payments received from insurance companies and patients into the billing system accurately and in a timely manner.
• Process payments through Electronic Remittance Advice (ERA) and manual Explanation of Benefits (EOB).
• Ensure all payments, adjustments, and denials are posted correctly according to the EOB/ERA details.

2. Reconciliation

• Reconcile posted payments with bank deposits and payment reports.
• Identify and report any discrepancies between received payments and billed amounts.

3. Denial and Adjustment Posting

• Post contractual adjustments, write-offs, and denials based on payer guidelines.
• Flag and report denied or underpaid claims to the AR team for further follow-up.

4. Credit Balance Management

• Identify and report credit balances in patient accounts.
• Coordinate with the refund or AR team to resolve overpayments.

5. Quality and Accuracy

• Ensure high accuracy while posting payments to avoid financial discrepancies.
• Follow company policies and payer guidelines while posting adjustments.

6. Reporting and Documentation

• Maintain proper documentation of posted transactions.
• Generate daily or weekly payment posting reports when required.

7. Compliance

• Maintain confidentiality of patient information and comply with HIPAA regulations.
• Follow internal compliance and audit guidelines.

Qualification:

• Bachelors degree in Commerce, Business Administration, Healthcare Management, or related field (preferred).
• 13 years of experience in medical billing or payment posting in the healthcare/RCM industry.
• Knowledge of medical billing software and payment posting processes.

Skills:

• Good understanding of EOB, ERA, CPT, ICD-10, and payer guidelines.
• Strong attention to detail and accuracy.
• Basic knowledge of Revenue Cycle Management (RCM) processes.
• Good analytical and problem-solving skills.
• Ability to work with spreadsheets and billing software.
• Good communication and teamwork skills.

KPI

• Payment posting accuracy rate
• Daily/weekly posting productivity targets
• Error or discrepancy resolution time
• Compliance with billing and payer guidelines