What are the responsibilities and job description for the Cash Posting Specialist position at ROM Technologies, Inc.?
ROMTech is a medical technology company that has created and patented a revolutionary medical device and telemedical platform which delivers in-home rehabilitative care. Our disruptive technology has proven to yield faster recoveries and better outcomes with unmatched patient compliance. We began in orthopedics and have entered scale-up of our orthopedic business. We are now leveraging our core technology, infrastructure, and first mover position to enter cardiology, followed by other adjacent markets. Having created this new lane, we have a unique opportunity to serve as the global leader in the business, technology, and science of recovery, and to bring life-changing help to many millions of people.
Job Summary
The Cash Poster is responsible for accurately posting and reconciling insurance and patient payments for a Durable Medical Equipment (DME) organization operating across three separate entities. This role manages high-volume cash posting activities using bank lockbox files, Explanation of Benefits (EOBs), and Electronic Remittance Advice (ERA). The Cash Poster also performs audit support, reconciliation, and variance resolution while ensuring payments are correctly applied to the appropriate entity and patient account. Other duties as assigned.
Key Responsibilities
Payment Posting & Multi-Entity Reconciliation
Job Summary
The Cash Poster is responsible for accurately posting and reconciling insurance and patient payments for a Durable Medical Equipment (DME) organization operating across three separate entities. This role manages high-volume cash posting activities using bank lockbox files, Explanation of Benefits (EOBs), and Electronic Remittance Advice (ERA). The Cash Poster also performs audit support, reconciliation, and variance resolution while ensuring payments are correctly applied to the appropriate entity and patient account. Other duties as assigned.
Key Responsibilities
Payment Posting & Multi-Entity Reconciliation
- Post insurance and patient payments accurately and timely for three separate DME entities, ensuring payments are applied to the correct entity, patient, and claim.
- Apply payments and adjustments based on EOBs and ERAs, including contractual allowances, deductibles, coinsurance, refunds, and recoupments.
- Balance daily cash activity by entity and reconcile postings to bank deposits and lockbox totals.
- Identify and resolve unapplied cash, misapplied payments, and posting discrepancies across entities.
- Process and review daily bank lockbox files for insurance and patient payments for multiple entities.
- Reconcile lockbox transactions to system postings by entity.
- Investigate and correct discrepancies between bank records, lockbox files, and billing system entries.
- Accurately enter payment data into billing, accounting, and tracking systems while maintaining proper entity separation.
- Maintain detailed documentation supporting all posted payments for audit and compliance purposes.
- Ensure remittance information is properly indexed, stored, and accessible for each entity.
- Perform routine and ad hoc audits of payment posting accuracy across all three entities.
- Support external vendors by validating payment posting, providing documentation, and reviewing reconciliation results.
- Assist with internal audits, external reviews, and cash variance analysis.
- Identify recurring posting issues or trends by entity and escalate findings to leadership.
- Collaborate with billing, accounts receivable, customer service, finance, and management teams to resolve posting-related issues.
- Communicate entity-specific discrepancies clearly and promptly.
- Coordinate with banks and external vendors regarding lockbox and remittance issues.
- Adhere to all cash handling, data integrity, and HIPAA compliance standards.
Salary : $22 - $24