Cash Applications Specialist

The Cash Applications Specialist is responsible for reviewing daily bank account activity and classifying all incoming transactions as insurance payments, patient payments, or non-collections. This role ensures that all payments are accurately identified, organized, and documented so they can be passed to the posting team for application in the revenue cycle system.

This role does not post payments. It focuses on reviewing, classifying, and preparing bank activity for downstream processing., Bank Account Review

• Review daily bank transactions
• Identify and categorize incoming payments:
• Insurance payments
• Patient payments
• Non-collections

Payment Breakdown

• Break down deposits into:
• Individual payments
• Bulk payments
• Credit card batches
• Record details in Excel

Research & Issue Resolution

• Investigate unclear or missing payments
• Review EOBs for correct payment details
• Contact insurance companies for clarification
• Help determine proper payment posting

Documentation & Reporting

• Create deposit summary sheets for posting teams
• Clearly document payment types and breakdowns
• Provide organized data for accurate posting

Reconciliation & Timeliness

• Reconcile bank activity for accuracy and completeness
• Complete work within 3-business-day window
• Support month-end close by resolving discrepancies

Do you have experience in Excel data analysis?, * Experience in healthcare collections or revenue cycle operations

• Strong understanding of Explanation of Benefits (EOBs)
• Experience with bank reconciliation or payment analysis
• Proficiency in Microsoft Excel (including spreadsheets and pivot tables)
• Experience communicating with insurance payers
• Strong attention to detail and ability to research payment discrepancies, * Experience with cash posting or payment posting workflows
• Familiarity with clearinghouse systems (e.g., Waystar)
• Experience in medical billing, collections, or insurance follow-up