At Medtronic you can begin a life-long career of exploration and innovation, while helping champion healthcare access and equity for all. You’ll lead with purpose, breaking down barriers to innovation in a more connected, compassionate world.
A Day in the LifeMedtronic is expanding their footprint for Diabetes Care with a center in Pune and as a Team Lead Cash Posting for Patient Financial Services, India, this role is responsible for accurately posting and reconciling all payments received from patients, insurance companies, and other third-party payers within Patient Financial Services.
The Diabetes Operating Unit focuses on improving the lives of those within the global diabetes community. As a business, we strive to empower people with diabetes to live life on their terms by delivering innovation that truly matters and providing support in the ways they need it.
Our portfolio of innovative solutions is designed to provide customers greater freedom and better health, helping them achieve better glucose control, while spending less time managing their disease.
Responsibilities may include the following and other duties may be assigned:
As a Team Lead Cash Posting for Patient Financial Services, the role involves specialist to collaborates with various teams to resolve discrepancies and ensure that the revenue cycle process is efficient and effective.This role plays a crucial part in maintaining the financial integrity of the organization by ensuring that all cash receipts are properly accounted for within the revenue cycle.
-
Accurately post all payments (electronic, checks, credit cards, etc.) to patient accounts in the billing system.
-
Ensure all payments are applied to the correct accounts and invoices.
-
Process and post insurance payments, including primary, secondary, and tertiary payers. Reconcile daily cash postings with bank deposits and accounting records.
-
Identify and resolve discrepancies between posted payments and actual deposits.
-
Work with the finance team to ensure accurate general ledger postings.
-
Post adjustments, write-offs, and denials as per payer contracts and company policies.
-
Identify trends in denials and underpayments and communicate findings to management.
-
Collaborate with the billing and collections teams to resolve outstanding issues.
-
Maintain accurate and detailed records of all cash posting activities.
-
Generate and analyze reports on payment trends, reconciliation outcomes, and discrepancies.
-
Provide feedback on processes and suggest improvements to enhance efficiency.
-
Ensure all cash posting activities comply with company policies and relevant regulations.
Required Knowledge and Experience:
-
Bachelor’s degree in business or accounting major is preferred.
-
8+ years’ experience in healthcare insurance collections, accounts receivable management, billing and claims processing, and insurance payor contracts.
-
Advanced knowledge of insurance contracting, payor 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 recovery denied claims.
-
Experience with medical billing and collections terminology – CPT, HCPCS, ICD-10 and NDC coding, HIPAA guidelines and healthcare compliance.
Physical Job Requirements
The above statements are intended to describe the general nature and level of work being performed by employees assigned to this position, but they are not an exhaustive list of all the required responsibilities and skills of this position.
Benefits & Compensation
Medtronic offers a competitive Salary and flexible Benefits Package
A commitment to our employees lives at the core of our values. We recognize their contributions. They share in the success they help to create. We offer a wide range of benefits, resources, and competitive compensation plans designed to support you at every career and life stage.
This position is eligible for a short-term incentive called the Medtronic Incentive Plan (MIP).
About 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 here
