Payment Posting Specialist Overview

About Us:

Somnia Anesthesia, Inc is a leading healthcare organization dedicated to providing exceptional patient care and services. We are committed to excellence and innovation in the healthcare industry. 

Position Summary:

The Medical Payment Posting Specialist is responsible for accurately posting and reconciling payments from insurance companies and patients into the financial system. This role involves ensuring that payments are applied correctly, resolving discrepancies, and maintaining up-to-date financial records. The ideal candidate will have strong attention to detail, knowledge of payment posting procedures, and the ability to work efficiently in a fast-paced environment.

Payment Posting Specialist Responsibilities

• Accurately post payments and adjustments from insurance companies and patients into the financial system in a timely manner.
• Regularly reconcile posted payments against bank statements and remittance advice to ensure accuracy and resolve discrepancies.
• Identify and resolve issues related to denied or misapplied payments by collaborating with billing and accounts receivable teams.
• Communicate effectively with insurance companies, patients, and internal teams to resolve payment-related inquiries and discrepancies.
• Collaborate with billing and accounts receivable teams to resolve payment discrepancies and address any issues related to payments.
• Suggest and implement improvements to payment posting processes to enhance efficiency and reduce errors.
• Ensure payment posting practices comply with legal and regulatory requirements, including HIPAA and industry standards.

Payment Posting Specialist Qualifications

• High school diploma or equivalent; Associate's or Bachelor's degree in finance, accounting, healthcare administration, or a related field is preferred.
• Minimum of 3 years of experience in payment posting, medical billing, or accounts receivable.
• Strong understanding of payment posting procedures, medical billing, and insurance processes.
• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills.
• Proficiency in using financial systems, billing software, and lockboxes.
• Ability to work independently and collaboratively in a fast-paced environment.
• Experience within Anesthesia billing preferred.
• Additional certifications in medical billing or financial management preferred.