Cash Application Posting Manager

Wilshire hires only the brightest and most experienced professionals in the healthcare revenue cycle management industry.  Wilshire will take the time to get know you and your employment history.  We will then place you in a role that will lead to a path of career success.  

About The Wilshire Group: The Wilshire Group is a leading healthcare consulting firm that provides expert revenue cycle management solutions to hospitals and healthcare organizations nationwide. Our team is dedicated to delivering innovative strategies and services that optimize financial performance, improve operations, and enhance patient experiences. We pride ourselves on our commitment to excellence, integrity, and fostering a collaborative work environment.

We are currently seeking a highly skilled and experienced Cash Applications and Credit Resolution Manager/Director to join our team on a contracted basis. This position will operate remotely, working Pacific Standard Time (PST) hours, with a contract duration of 6+ months. This is a more senior-level role, and we offer a competitive 62% fee-sharing structure.

Key Responsibilities:

Cash Application:

1. Ensure accurate processing of files through daily quality audits of remittance processing and file maintenance.
2. Maintain files, keeping various fields, segments, and remarks up-to-date and appropriately posted.
3. Oversee the ERA set-up, ensuring accuracy in system actions, patient balances, and contractual adjustments.
4. Manage manual cash posting to guarantee accurate payments and appropriate adjustment codes.
5. Reconcile cash received from hospitals and practices, resolve discrepancies, and ensure accurate posting to insurance and patient payments.
6. Maintain the unapplied cash account to ensure proper usage and regular account management.
7. Coordinate resolutions for missing checks, recoupments, and missing remittances to ensure timely and accurate posting of all payments and adjustments.
8. Schedule and perform system updates in accordance with department guidelines.
9. Oversee payer registrations to ensure electronic posting of files and reduction of manual posting.
10. Supervise the cash applications team, emphasizing career growth and coaching.
11. Monitor and maintain cash logs across the organization.
12. Ensure all cash is posted within 24 to 48 hours of receipt and closed by month-end.
13. Balance cash receipts with the Finance department weekly.
14. Collaborate with other departments to correct posting errors and address root causes.
15. Supervise daily operations of posting error logs and files for correction, quality assurance, and issue identification.
16. Develop, distribute, and monitor performance metrics for all cash application functions.
17. Act as the primary liaison with the Finance department for cash collection, posting, unposted cash, and related functions.
18. Develop and recommend short- and long-term productivity goals for cash collection and account closure.
19. Identify, research, mitigate, and resolve revenue cycle system-related issues.
20. Work closely with managers and supervisors to minimize overtime expenses and maintain budget levels.
21. Interview, hire, train, evaluate, and develop staff according to defined policies and objectives.
22. Provide feedback to management regarding potential changes or enhancements to improve staff performance and positively impact the revenue cycle.
23. Develop and implement a communication plan with staff input to ensure effective information flow.
24. Maintain up-to-date knowledge of technical and business developments.
25. Perform other activities and special projects as assigned.

Credit Resolution:

1. Manage overpaid/unallocated credit accounts receivable effectively.
2. Maintain credit balance accounts in accordance with established goals.
3. Process government refunds in compliance with Federal guidelines.
4. Audit refunds for accuracy and authorize refunds and recoupments.
5. Analyze outstanding checks for disposition and escheating per department guidelines.
6. Support the company’s position with insurance audits and manage refund requests effectively.
7. Process government quarterly credit balance reports (Medicare and Medicaid) timely to ensure all deadlines are met.

Qualifications:

• Proven experience in cash applications, credit resolution, or a related field, preferably in a healthcare environment.
• Strong leadership skills with experience in supervising and developing a team.
• Excellent analytical, problem-solving, and decision-making abilities.
• Effective communication skills and the ability to work collaboratively across departments.
• Proficiency with relevant software and systems, including experience with revenue cycle management tools.
• Ability to work remotely while adhering to PST hours.

Contract Details:

• Contract Duration: 6+ months
• Compensation: $100-$105 per hour
• Remote Work: PST hours

If you are an experienced professional with a passion for improving financial operations and leading a team to success, we encourage you to apply. Join The Wilshire Group and be part of a dynamic team committed to excellence and innovation in healthcare consulting.

Wilshire is honored that you have taken the time to review/apply to our open position.  We will now take the time to review your experience and be in touch with you soon.