The Cash Application Specialist is responsible for accurately entering and efficiently posting and reconciling all incoming payments within the revenue cycle management department (RCM). This role focuses heavily on Workers’ Compensation reimbursement but will also handle Commercial and Medicare payment posting. The specialist will ensure timely cash posting, payment reconciliation, accuracy of payer adjustments, and resolution of payment variances to support clean financial reporting, optimized AR performance, and a smooth billing-to-cash workflow.
*This is a remote role. We are only hiring in the following states: AZ, CA, NM, NV, OR, TX and WA.
What you will do:
- Accurately post all payments, including checks, EFT/ERA transactions, virtual credit cards, and manual payments.
- Process Workers’ Compensation payments from multiple TPAs, carriers, and state programs, with attention to detail regarding expected allowable amounts.
- Ensure correct application of contractual adjustments, write-offs, and denial codes according to payer rules and internal policies.
- Reconcile daily deposits, bank statements, lockbox files, and ERAs to ensure all cash is posted and balanced.
- Maintain and monitor unapplied cash, ensuring timely resolution and accurate allocation.
- Identify payment discrepancies, underpayments, and overpayments, routing issues to AR Follow-Up or Denial Prevention teams as appropriate for timely resolution.
- Process refunds, and take backs in accordance with compliance and internal policies.
- Work collaboratively with AR (internal and external vendor) and billing teams to research missing payments, misapplied cash, payer posting errors, and incorrect remittance details.
- Maintain audit-ready documentation for posted batches, reconciliations, and resolved variances.
- Assumes other responsibilities as appropriate to the position and organizational needs
Qualifications:
- High school diploma or GED required, associate degree in accounting, finance, or related field preferred
- 2+ years of experience in healthcare cash posting, preferably within an RCM environment
- Strong experience with Workers’ Compensation payments (TPA/carrier payments, fee schedule interpretation, rehab billing, EOR review
- Understanding of EOBs/ERAs, denial codes, payment posting methodologies, and basic accounting principles
- Ability to work in a fast-paced environment, meet daily deadlines, and collaborate with cross-functional RCM teams
- Experience with multiple EHR/ Practice Management systems (IMS, Nextgen, Athena, eClinicalWorks or similar)
- Basic understanding of NCCI edits and payer-specific billing guidelines
- Accuracy and attention to detail, analytical thinking and problem solving and high integrity and compliance focus
- Advanced proficiency in Microsoft Excel (e.g., formulas, pivot tables) and solid skills in other Microsoft Office applications
Compensation Range:
$25.00 to $30.00 Hourly
All compensation ranges are posted based on internal equity, job requirements, experience, and geographical locations.
Why You'll Love Working Here:
- Amazing work/life balance
- Generous Medical, Dental, Vision, and Prescription benefits (PPO & HMO)
- 401(K) Plan with Employer Matching
- License & Tuition Reimbursements
- Paid Time Off
- Holiday Pay & Floating Holiday
- Employee Perks and Discount Programs
- Supportive environment to help you grow and succeed
Boomerang Healthcare (BHC) is a multidisciplinary and comprehensive team of experienced, committed healthcare providers that treat pain. Our team of doctors approaches each patient with one goal in mind: to help patients return to normal daily activities. We work with our patients to identify the cause of their pain and create a personalized treatment plan, recognizing that no two patients are alike, and neither is their pain. Our providers create a comprehensive care plan, then monitor, manage and coordinate patient access to health services at BHC.
Boomerang Healthcare strives to be a diverse workforce that reflects, at all job levels, the patients we serve. We are an equal opportunity employer. Boomerang Healthcare is committed to compliance with the American Disabilities Act. If you require reasonable accommodation during the application process or have a question regarding an essential job function, please contact us.
Monday-Friday, 8am-5pm40