Position Overview:
The Director of Cash Applications oversees the overall policies, objectives, and initiatives for the Cash Applications Team. They will review, design, and implement processes surrounding payment posting, refunds, adjustments, and other financial analyses to ensure successful revenue cycle management. The Director of Cash Applications will mentor staff, provide coaching, direction, instruction, guidance and build team spirit. This role is responsible for the management of both offshore and onshore employees.
Required Skills:
Responsibilities:
- Provides support, guidance and feedback to the Cash Applications Manager and Refund Manager ensuring all established measurables are met including but not limited to:
o A 99% accuracy ratio.
o All clients balance 100% from the bank deposits to software entries.
o Adjustments, transfers to collections, and refunds are completed.
o Daily Statements Uploads to Clearinghouse are completed.
o Monthly collections lists are uploaded for all centers.
o Primary EOBs are placed in the appropriate secondary folder. o Evaluates the effectiveness of the cash applications work functions, implements changes to policies, procedures, and systems as appropriate. o Credit balances are worked to resolution timely through research and follow up. Actions include but are not limited to initiating refunds, retractions, and/or adjustments to claims.
- Evaluates the effectiveness of the cash applications work functions, implements changes to policies, procedures, and systems as appropriate.
- Implements management practices that are motivating and mentoring.
- Ensures compliance with state and federal laws and regulations.
- Maintains thorough understanding of health insurance and government programs, when necessary.
- Facilitates the identification of variances and solutions by team members related to delays in posting.
- Facilitates Q/A reviews to identify department training needs for system education, industry updates and changes in cash applications processes and protocols.
Weekly meetings with Cash Application Managers
- Go over current progress or issues that need to be addressed.
- Provides suggestions or ideas on how we can improve processes and become more efficient.
- Provides daily communication when issues arise.
- Completes End of Month preparation.
- Coordinates payment posting coverage to centers as assigned.
Required Experience:
Requirements:
- 5+ years’ experience with Cash Applications management in a large multi-specialty group, an Ambulatory Surgical Center or Outpatient hospital preferred.
- Hands-on knowledge and experience of cash applications functions, credit balance resolution, refund processing and daily cash deposit/posting reconciliation
- Hands-on knowledge of Medicare, Medicaid, Medicaid CMO, Commercial, Managed Care billing regulations.
- Understanding of Revenue Cycle Processes, cause and effect on A/R and cash results.
- Ability to analyze data and develop systems to accurately control financial activity within a surgical center setting.
- Ability to lead, manage projects and staff to achieve goals.
- Understanding of system and business processes, as well as healthcare financial issues.
- Experienced in examining and reengineering operations and procedures. Able to identify and implement solutions.
- Strong technological understanding and appreciation for the automation of all functions related to the revenue cycle, and the engagement of the customer in that automated process. Experience working collaboratively with IT will be important.
- Required to meet critical deadlines.
- Desire to motivate, inspire positive outcomes and deliver excellent results.
- Sound judgement and strong skills with respect to interpersonal relations, critical thinking, problem solving and analysis.
- The ability to communicate effectively, both verbally and in writing, with internal and external clients.
- Work independently to identify and resolve complex client problems.
- Be able to multi-task and handle competing priorities while meeting or exceeding deadlines.
- Must be proficient in computer skills necessary to perform job duties and must have strong knowledge of computerized billing systems. Intermediate knowledge of Word, Excel, PowerPoint, Access and Outlook.
- Must possess positive attitude to enhance a cooperative and energetic work environment.
- Internal Candidates:
o Must be employed with the organization for a minimum of 6 months and be currently exceeding expectations.
o Must have never been placed on a Positive Improvement Plan (PIP).