Financial Posting & Refund Specialist I, Hybrid

University of Maryland Medical System; Linthicum (MD); On-site; USD 42,000 - 54,000; Full time

Job summary

University of Maryland Medical System Central Business Office seeks a Refund Specialist to apply insurance and self-pay refunds to patient hospital accounts. You will research credits, verify postings, and prepare refund documentation for approval.

Your duties include reviewing carrier payments, ensuring accuracy across multiple hospital systems, and issuing refunds with proper documentation for accounting records.

Qualifications

• High school diploma or equivalent (GED).
• One year cash posting or related experience.

Responsibilities

• 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 Refund Specialist Team Lead and/or Manager for approval. Approved request 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.

Education

High school diploma or equivalent (GED)

Job description

Job Requirements

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 Refund Specialist Team Lead and/or Manager for approval. Approved request 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.

Job Requirements

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 Refund Specialist Team Lead and/or Manager for approval. Approved request 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.

Work Experience

Education

• High school diploma or equivalent (GED)

Experience

• One year cash positing or related experience

Preferred

• Two years' refund or accounts receivable experience
• Knowledge of payment reimbursement rules and contractual requirements from various payers