Cash Posting Executive

As a Cash Posting Executive for Patient Financial Services at Medtronic's new Diabetes Care center in Pune, you will be responsible for accurately posting and reconciling all payments from patients, insurance companies, and third-party payers. This role is crucial for maintaining the financial integrity of the organization by ensuring all cash receipts are properly accounted for within the revenue cycle. You will collaborate with various teams to resolve discrepancies and optimize the revenue cycle process.

A Day in the Life

You will play a vital part in Medtronic's financial operations by:

• Accurately posting all payments (electronic, checks, credit cards) to patient accounts in the billing system.
• Ensuring all payments are applied to the correct accounts and invoices.
• Processing and posting insurance payments, including primary, secondary, and tertiary payers.
• Reconciling daily cash postings with bank deposits and accounting records.
• Identifying and resolving discrepancies between posted payments and actual deposits.
• Working with the finance team to ensure accurate general ledger postings.
• Posting adjustments, write-offs, and denials as per payer contracts and company policies.
• Identifying trends in denials and underpayments and communicating findings to management.
• Collaborating with the billing and collections teams to resolve outstanding issues.
• Maintaining accurate and detailed records of all cash posting activities.
• Generating and analyzing reports on payment trends, reconciliation outcomes, and discrepancies.
• Providing feedback on processes and suggesting improvements to enhance efficiency.
• Ensuring all cash posting activities comply with company policies and relevant regulations.

Required Knowledge and Experience

• Bachelor's degree in business or accounting preferred.
• 1-2 years experience in healthcare insurance collections, accounts receivable management, billing and claims processing, and insurance payer contracts.
• Advanced knowledge of insurance contracting, payer regulations, insurance benefits, coordination of benefits, managed care, and healthcare compliance, rules, and regulations.
• Advanced experience with reading and understanding medical policy information, and utilizing insurance benefit and coverage information to recover denied claims.
• Experience with medical billing and collections terminology - CPT, HCPCS, ICD-10 and NDC coding, HIPAA guidelines, and healthcare compliance.

Benefits & Compensation

Medtronic offers a competitive Salary and flexible Benefits Package. We are committed to our employees, recognizing their contributions and providing resources to support you at every career and life stage. This position is eligible for the Medtronic Incentive Plan (MIP).

About Medtronic

Medtronic leads global healthcare technology, boldly attacking the most challenging health problems facing humanity by searching out and finding solutions. Our Mission to alleviate pain, restore health, and extend life unites a global team of 95,000+ passionate people. We are engineers at heart, putting ambitious ideas to work to generate real solutions for real people, leveraging talent, diverse perspectives, and courage to engineer the extraordinary.