What are the responsibilities and job description for the Supervisor, Cash Applications position at LIFESCAN LABS OF ILLINOIS LLC?
Description
The Supervisor, Cash Applications is responsible for posting insurance payments, client payments,
researching credit balances, and reconciling batches daily. The Supervisor identifies opportunities to
days in accounts receivable and improve cash flow through technology, process automation,
standard operating procedure implementation, and internal controls.
Essential Job Functions:
• Oversees and completes payer EDI applications to transition payers from paper checks to both
ACH deposit and 835 remittances. Monitors remittance for payers who charge additional fees
and converts payers to the paper checks/lock box.
• Posts assigned remittance electronically and resolves unmatched payments manually. Utilizes
the daily bank report to reconcile posted batches.
• Monitors payment files, prioritizes work, and ensures work is distributed to the Cash Application
Specialists.
• Assists with developing standard operating procedures for cash application and correspondence
functions. Provides 1:1 onboarding and training for Cash Application Specialists.
• Helps Cash Application Specialists with individual reconciliation ensuring department level daily
reconciliation.
• Performs quality assessments on work performed by Specialists and outsourced team.
• Utilizes bank correspondence platform to assess volume of correspondence and assign work to
outsourced team.
• Conducts weekly business review meetings to assign, monitor, and coach outsourced
correspondence team.
• Assists Director with assessing volume of payments and remittance to determine and maintain
appropriate staffing levels.
• Supports all financial reconciliation processes at month and year end with the Finance Team.
• Identifies and reports payment issues, remittance issues, or extensive payment lag times and
reports findings to Director. Tracks and monitors identified issues through resolution.
• Supports Client Billing, Insurance Specialists, and Account Managers with payment questions
and payment issues.
• Researches unapplied payments timely by following up with the insurance payer or client. Logs
unapplied payments on the daily bank report and updates report as cash is applied.
• Resolves credit balances and refunds in accordance with government regulations, payer
contracts, and Lifescan Labs policy and procedure.
• Assists IT with testing new features and functions in the practice management system. Develops
training material and trains staff members on new revenue cycle system implementations in
collaboration with It Project Managers
• Remains current with trends, regulatory requirements, and business strategies related to the
payer relations and revenue cycle.
• Operates in compliance with all local, state, and Federal laws as well as policy and compliance
standards.
• Other duties and responsibilities as assigned.
Requirements
• Bachelor’s degree in healthcare, business, or finance preferred.
• 4 - 5 years of experience in accounts receivable or cash applications within a revenue cycle or
business office
• 3 years of experience with CMS1500 claims form and 837/835 electronic transaction sets.
Supervisory Responsibilities:
Up to 6 cash application and correspondence specialists
Supervises offshore team members
Key Job Competencies:
• Accounting and math skills.
• Microsoft Office skills: Advanced Excel and proficiency in Power Point, and Word.
• Exceptional detail orientation, critical thinking, analytical, and problem-solving skills.
• Excellent verbal and written communication
• Must thrive in a fast paced environment.
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