Payment Posting Specialist

HighFive Healthcare; Birmingham (AL); On-site; USD 30,000 - 39,000; Full time

Benefits offered by this job

Medical, Dental, and Vision Insurance

Life Insurance

Long and Short-Term Disability

Paid Time Off

401(k) with Company Match

Job summary

HighFive Healthcare is seeking a Payment Posting Specialist to accurately post payments from insurance companies and patients into the accounts receivable system. The role supports the revenue cycle by resolving discrepancies and maintaining timely, precise payment records within established timelines.

You'll work with accounts receivable, billing, and collections teams to improve posting efficiency, review EOBs and remittance advice, and ensure HIPAA compliance.

Qualifications

• Minimum 2 years in healthcare payment posting, billing, or revenue cycle management.
• Proficient in healthcare billing software and electronic payment systems.
• Familiar with EOBs and remittance advice.
• Experience in mid/large-scale healthcare business offices (≥100 providers) preferred.

Responsibilities

• Post payments from insurers, government programs, and patients accurately.
• Reconcile payments and adjustments to patient accounts.
• Identify and investigate discrepancies and resolve issues.
• Work with AR, billing and collections to resolve denied/underpaid claims.
• Notify management of underpayments identified.
• Make adjustments for overpayments and discrepancies.
• Ensure proper adjustments are reflected in patient accounts.
• Maintain accuracy and timely processing of payments.
• Respond to inquiries and provide payment status updates.
• Generate and review payment posting reports for management.
• Provide accurate payment trends to leadership.
• Ensure HIPAA compliance and adherence to policies and regulations.
• Stay updated with system updates and new policies.

Skills

Analytical skills

Attention to detail

Communication skills

Teamwork

Independent work

Education

High school diploma or equivalent

Associate or Bachelor's degree preferred

Tools

Healthcare billing software

Electronic payment systems

Remittance processing systems

Job description

The Payment Posting Specialist is responsible for accurately and efficiently posting payments received from insurance companies and patients into the healthcare provider’s accounts receivable system. This position plays a critical role in ensuring the timely and correct application of payments, resolving discrepancies, and maintaining accurate financial records. The specialist will collaborate with other departments to streamline processes and support the revenue cycle. The goal is to maintain payment posting metrics within 72 hours of receipt of payment.

Responsibilities

• Accurately post payments from insurance companies, government programs, and patients into the appropriate accounts in the system. Ensure payments are properly coded and applied based on explanation of benefits (EOBs), ERA/remittance advice, and patient statements.
• Reconcile payments and adjustments to patient accounts. Identify and investigate discrepancies and take appropriate action to resolve issues.
• Work closely with the accounts receivable and billing teams to resolve denied or partially paid claims. Notify management team of any underpayments identified during the posting process.
• Make necessary adjustments to accounts based on overpayments, underpayments, or discrepancies in payments. Ensure proper adjustments are reflected in the patient account.
• Maintain high standards of accuracy and attention to detail when posting payments and managing payment records. Ensure all transactions are processed within established timelines.
• Respond to internal inquiries related to payment posting, providing timely updates on payment status, and resolving any issues that arise.
• Generate and review payment posting reports. Provide accurate information to management regarding payment trends.
• Adhere to healthcare industry regulations, including HIPAA, and ensure all payment posting activities comply with internal policies and external regulations.
• Work with the accounts receivable, billing, and collections teams to streamline payment posting processes, improve efficiency, and ensure accurate financial reporting.
• Stay up to date with updates in healthcare payment systems and ensure all new policies and protocols are adhered to during payment posting.
• Meet or exceed required accounts per day to meet HighFive and provider's expectations.

Requirements

• High school diploma or equivalent; associate or bachelor's degree in healthcare, business,
• or a related field preferred.
• Minimum of 2 years of experience in healthcare payment posting, billing, or revenue cycle management.
• Proficient in healthcare billing software and electronic payment systems.
• Familiarity with insurance payment systems, EOBs (Explanation of Benefits), and remittance advice.
• Prior experience with mid or large-scale healthcare business office of 100 or more providers preferred.
• Strong analytical skills with the ability to identify and resolve payment discrepancies.
• Excellent attention to detail and organizational skills.
• Strong communication skills, both written and verbal, to interact with team members and patients.
• Ability to work independently and as part of a team in a fast-paced environment.
• Knowledge of HIPAA regulations and healthcare compliance requirements.

Benefits

• Medical, Dental, and Vision Insurance
• Life Insurance
• Long and Short-Term Disability
• Paid Time Off
• 401(k) with Company Match