Cash Applications Specialist/Full time/Wallingford

Gaylord Specialty Healthcare is a health system dedicated exclusively to medical rehabilitation. We provide inpatient and outpatient care for people at every point in their journey from illness or injury to the most advanced state of recovery they can achieve. Our Mission: To enhance health, maximize function and transform lives. Our values: Integrity, Compassion, Accountability, Respect, and Excellence. These values guide us in providing quality patient care and transforming the lives of our patients.

Summary: The Cash Application Specialist plays a critical role in the hospital's revenue cycle by ensuring timely, accurate, and compliant posting of all incoming payments. This position requires strong attention to detail, analytical thinking, and a commitment to financial accuracy. In addition to technical expertise, the specialist serves as a key liaison across departments, helping to resolve discrepancies, support operational goals, and foster a collaborative work environment. The role directly contributes to the financial health of the organization, the efficiency of internal processes, and the overall satisfaction of patients by ensuring a seamless and transparent payment experience.

Essential duties and responsibilities:

Financial Integrity

• Accurately post payments from various sources (EFT, credit cards, and patient payments) into the hospital's billing system.
• Identify and resolve payment discrepancies, denials, and unapplied payments in a timely manner.
• Perform daily reconciliations of posted payments with bank deposits and remittance advice.
• Ensure compliance with internal controls, accounting standards, and regulatory requirements.

Patient Experience

• Ensure accurate application of patient payments to avoid billing errors and enhance patient trust.
• Respond professionally to patient inquiries regarding payment postings, refunds, or billing concerns.
• Assist the self-pay collector/vendor with phone calls and patient payment inquiries to ensure timely resolution of patient concerns.

Revenue Cycle Advancement

• Identify trends and root causes of recurring payment issues and recommend process improvements.
• Leverage technology and automation to streamline cash posting operations and reduce manual entry.
• Support the implementation of new tools or systems that enhance cash posting efficiency and transparency.
• Contribute to departmental goals, KPIs, and strategic initiatives to improve revenue cycle performance.

Collaboration and Communication

• Open and distribute departmental mail.
• Scan correspondence.
• Collaborate with billing and collection team to resolve payment-related issues and ensure smooth cash flow.
• Provide support and training to new team members on cash application procedures and tools
• Maintain positive working relationships with internal departments, third-party payers, and patients.
• Participate in team meetings and contribute to a culture of continuous improvement and accountability.

Exhibits IT IS ICARE values:

• Innovation : Embracing creativity and new ideas to improve processes and outcomes.
• Teamwork : Collaborating effectively with others to achieve shared goals and objectives.
• Inclusion : Fostering an environment where everyone feels valued and supported.
• Safety : Prioritizing the well-being and security of patients, individuals and communities.
• Integrity : Acting with honesty and transparency in all interactions and decisions.
• Compassion : Showing empathy and kindness towards others, especially in challenging situations.
• Accountability : Taking responsibility for actions and outcomes, ensuring reliability and trust.
• Respect : Treating others with dignity and consideration, valuing their perspectives and contributions.
• Excellence : Striving for the highest quality in performance and achievements.

QUALIFICATIONS:

• High school diploma and a minimum of three years (3) experience in a hospital patient accounts environment or medical office setting required.
• Associate Degree in a business-related field or equivalent from a two-year technical school preferred. 2 years of experience in cash posting or revenue cycle operations within a healthcare setting preferred.
• Thorough understanding of third-party insurance carriers, standard 835 remittance advice codes, contractual adjustments and payer payment and reimbursement policies.
• Excellent analytical and organizational skills and familiarity with basic medical terminology. Knowledge of EHR systems (Meditech, Epic, Cerner) and payment portals.

HOURS:

Full-time/Potential hybrid work options.

We Are An Equal Opportunity Employer

Qualifications

Education

Required

Preferred

Licenses & Certifications

Required