Cash Reconciliation Analyst

This is a fully remote position, open to applicants in Illinois.

📋 Description

• Manage the daily and weekly unapplied cash queue for Occupational Medicine accounts, prioritizing based on dollar value and aging.

• Investigate unapplied and unidentified payments (checks, ACH, wire transfers, credit card, lockbox) to ascertain the appropriate employer account, invoice, or employee association.

• Directly contact employers via phone or email to gather remittance details, invoice references, or payment intentions when documentation is lacking.

• Allocate payments to invoices when remittance advice is absent, mismatched, or references outdated account or employee information.

• Post or repost cash once accurately identified; document resolution notes to maintain an audit trail.

• Determine the reasons payments are classified as unapplied (e.g., employer paid an incorrect account, lockbox scanning errors, missing remittance details, changes in invoice numbers, employee terminations or transfers impacting billing).

• Identify and escalate systemic issues to the Billing/IT department for resolution.

• Monitor recurring employer-specific trends that result in unapplied cash and collaborate with Account Management to rectify billing setups.

• Address employer inquiries via calls and emails related to unapplied payments, invoice discrepancies, and payment status updates.

• Reconcile employer accounts to verify outstanding invoices, credit balances, and the proper application of previous payments.

• Coordinate with Enrollment and Billing teams when unapplied cash is associated with headcount, eligibility, or rate discrepancies.

• Track and report on unapplied cash aging specifically for Occupational Medicine.

• Compile monthly summaries detailing unapplied cash trends, resolution rates, and primary root causes for management review.

• Assist with audits by documenting the processes and timelines for researching and resolving unapplied cash.

• Suggest process improvements to minimize future occurrences of unapplied cash.

⛳️ Requirements

• Associate's or Bachelor's degree in Accounting, Finance, Business, or a related field is preferred; equivalent work experience will also be considered.

• At least 2 years of experience in cash applications, unapplied cash resolution, accounts receivable, or revenue cycle roles.

• Proven experience in researching and resolving unapplied/unidentified payments using remittance details, bank records, or employer outreach.

• Proficiency in Excel, including pivot tables, VLOOKUP/XLOOKUP, and aging/variance analysis.

• Strong attention to detail along with independent research and problem-solving capabilities.

• Familiarity with billing systems, ERP, or practice management software (e.g., Epic, Athenahealth, or similar).

• Excellent written and verbal communication skills for interactions with employers regarding payment identification.

• Experience in occupational medicine, healthcare billing, or employer group billing.

• Knowledge of lockbox processing, EDI 835/820 remittance files, or ACH payment systems, and how errors in these systems can lead to unapplied cash.

• Understanding of general ledger reconciliation and basic accounting principles.

• Experience with ticketing or CRM systems for tracking employer support cases and documenting unapplied cash resolution notes.

🏝️ Benefits

• Paid time off

• Health insurance

• Dental insurance

• Vision insurance

• 401(k) savings plan with matching contributions