Team Lead Cash Posting

As a Team Lead - Cash Posting for Patient Financial Services at Medtronic's expanding Diabetes Care center in Pune, you will be responsible for the accurate posting and reconciliation of all payments from patients, insurance companies, and other third-party payers. This crucial role ensures the financial integrity of the organization by meticulously accounting for all cash receipts within the revenue cycle. You'll also lead efforts to resolve discrepancies, making the revenue cycle efficient and effective.

A Day in the Life

You will lead and optimize our cash posting operations by:

• Accurately posting all payments (electronic, checks, credit cards, etc.) 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.
• Leveraging your knowledge of various insurance plans (PPO, HMO, EPO, POS, Medicare, Medicaid, HRAs) and coordination of healthcare benefits, including requirements for referral, authorization, and pre-determination.

Required Knowledge and Experience

• Bachelor's degree in Business or Accounting is preferred.
• 8+ years of 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

This position is eligible for a short-term incentive called the Medtronic Incentive Plan (MIP).

About Medtronic

At Medtronic, we lead global healthcare technology and boldly attack 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. From the R&D lab, to the factory floor, to the conference room, every one of us experiments, creates, builds, improves and solves. We have the talent, diverse perspectives, and guts to engineer the extraordinary. Learn more about our business, mission, and our commitment to diversity.