Payment Processing Specialist
TapTalent.ai
Date: 3 weeks ago
City: Pasig City
Contract type: Full time

As a Payment Specialist, you will play a crucial role in ensuring the accurate and efficient posting of incoming payments, including customer remittances, into the provider’s accounting system. Your primary responsibility is to reconcile payments, identify and resolve discrepancies, and maintain precise financial records. This role requires strong attention to detail, analytical skills, and the ability to collaborate effectively with cross-functional teams.
What You'll Do
Ready to make an impact? Apply now and let’s grow together!
What You'll Do
- Efficient Payment Posting:
- Accurately record and reconcile incoming payments, remittances, and adjustments in the accounting system on a daily basis.
- Ensure prompt processing to maintain accurate and current financial records.
- Invoice and Remittance Alignment:
- Match remittance information with corresponding invoices and payment details to ensure precise allocation.
- Verify data accuracy before finalizing entries to prevent posting errors.
- Resolving Payment Discrepancies:
- Detect and investigate discrepancies such as underpayments, overpayments, and misapplied funds.
- Collaborate with healthcare providers, insurance companies, and internal departments to resolve issues efficiently.
- Accounts Receivable Management:
- Regularly review and maintain accounts receivable records to confirm correct application of payments.
- Support efforts to reconcile outstanding balances and maintain accurate account statuses.
- Documentation and Reporting:
- Keep comprehensive records of all posted transactions, adjustments, and corrections.
- Generate detailed reports on remittance activity for performance analysis and audit purposes.
- Team Collaboration:
- Work closely with billing, collections, and accounts receivable teams to facilitate accurate and timely payment processing.
- Provide support during audits and contribute to improving workflow processes.
- Provider Support and Communication:
- Address inquiries from providers regarding payment statuses, remittance details, and verification requests.
- Offer clear explanations and resolve concerns professionally and promptly.
- Policy Compliance:
- Adhere to organizational policies, accounting standards, and industry regulations to ensure compliance.
- Stay informed about updates in payment processing policies and best practices.
- Additional Contributions:
- Participate in special projects or assist with system improvements to support business operations.
- Take on other responsibilities as assigned to contribute to team success.
- Preferably with an understanding in QuickBooks
- Background in collection is a plus but not required
- Knowledgeable in posting payments in the system appropriately and posting to the provider's accounting system
- Experience how to read and interpret EOBs (Explanation of Benefits) and ERAs (Electronic Remittance Advices)
- Healthcare experience is a must
- MS Office Suite (Excel, Word, Outlook) experience
Ready to make an impact? Apply now and let’s grow together!
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