Cash Reconciliation Specialist

Location: Burlington, MA
Job ID: 175487-1A
Date Posted: Jun 22, 2022
Category: Professional

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Job Description

Welcome To

Welcome to Shared Services, our team uses a coordinated approach to delivering administrative and operational services across Lahey. Our Shared Services colleagues leverage resources across the organization to ensure we provide high-quality, high-value care to the communities we proudly serve.  The Shared Services team includes colleagues who focus on business and network development, legal services, facilities and real estate, human resources, information technology, finance, philanthropy and marketing and communications.


About the Job

The Cash Reconciliation Specialist performs work under general supervision of the PB Cash Manager for a variety of moderately complex tasks related to cash and credit card deposit tracking, bank verification and reporting for multiple medical practice locations across the health system. All tasks must be performed in a timely and accurate manner.

Essential Duties & Responsibilities including but not limited to:

  1. Maintains detailed excel spreadsheets that record and track daily deposits.
  2. Verifies online daily deposits, reconciled with practice management software generated batch reports.
  3. Verifies practices' deposit balancing procedure.
  4. Communicates daily with the cash supervisor, manager and billing to assure proper and timely handling of cash.
  5. Identifies deposit errors and communicates inconsistencies cash supervisor, manager and finance leads.
  6. Researches and analyzes all unidentified discrepancies on the deposit slips, deposit logs, and system generated batch reports, as well as, monitors resolution of variances.
  7. Completes all necessary reports for month end close.
  8. Identifies posting errors and makes necessary corrections so that the information reported to Finance is timely and accurate. Reports and trends all errors for the PB Cash Manager.
  9. Reviews, investigates and reports errors and inconsistencies in financial entries, documents and reports.
  10. Assists with audit documentation gathering as required.
  11. Follows all bank compliance regulations & procedures.
  12. Reviews, investigates and reports errors and inconsistencies in financial entries, documents and reports.
  13. Assists the Deposit Cash Manager with policy and procedure changes & enhancements.
  14. Completes all assignments per the turnaround standards. Reports unfinished assignments to the Manager or Revenue Support.
  15. Attends meetings and serves on committees as requested.
  16. Provides and promotes ideas geared toward process improvements within the Central Billing Office.
  17. Completes projects and research as assigned.
  18. Refers complex or sensitive issues to the attention of the Manager of Revenue System Operations to ensure corrective measures are taken in a timely fashion.
  19. Assists other staff as required in the completion of daily tasks or special projects to support the department's efficiency.
  20. Performs similar or related duties as assigned or directed.

Organizational Requirements:

  • Maintain strict adherence to the Lahey Health Confidentiality policy.
  • Incorporate Lahey Health Standards of Behavior and Guiding Principles into daily activities.
  • Comply with all Lahey Health Policies.
  • Comply with behavioral expectations of the department and Lahey Health.
  • Maintain courteous and effective interactions with colleagues and patients.
  • Demonstrate an understanding of the job description, performance expectations, and competency assessment.
  • Demonstrate a commitment toward meeting and exceeding the needs of our customers and consistently adheres to Customer Service standards.
  • Participate in departmental and/or interdepartmental quality improvement activities.
  • Participate in and successfully completes Mandatory Education.
  • Perform all other duties as needed or directed to meet the needs of the department. 

Minimum Qualifications:

Education: Associate's Degree preferably in the business or finance field. In the absence of an Associate's Degree, an additional 4 years of healthcare revenue cycle experience above the two identified below are required.

Licensure, Certification & Registration: Epic proficiency or certification in Resolute HB and/or Resolute PB desired.

Experience: Requires minimum 2 years of healthcare revenue cycle experience.

Skills, Knowledge, & Abilities: Comprehensive working knowledge of medical/hospital billing practices, billing software, health care insurance, and CMS regulations.

  • Thoroughly proficient in data entry using a PC and a variety of electronic systems.
  • Ability to read, analyze and interpret financial reports.
  • Ability to define problems, collect data, establish facts, draw conclusions, and make sound recommendations.
  • Capacity to analyze and think creatively and weigh alternatives.
  • Perception of people and an awareness to deal with conflict successfully and attain resolution.
  • Demonstrates attention to detail.
  • Demonstrates excellent organizational skills.
  • Demonstrates skills with multitasking.
  • Demonstrates proficiency in the use of Excel documents.