JOB DESCRIPTION

At ROMTech, we are committed to building a high-performing team that advances our mission of improving recovery outcomes through innovative technology and operational excellence. We value accountability, collaboration, continuous improvement, and a patient-centered approach in everything we do.

ROMTech is a medical technology company that has created and patented a revolutionary medical device and telemedical platform which delivers in-home rehabilitative care. Our disruptive technology has proven to yield faster recoveries and better outcomes with unmatched patient compliance. We began in orthopedics and have entered scale-up of our orthopedic business. We are now leveraging our core technology, infrastructure, and first mover position to enter cardiology, followed by other adjacent markets. Having created this new lane, we have a unique opportunity to serve as the global leader in the business, technology, and science of recovery, and to bring life-changing help to many millions of people.

Position Title:

Cash Posting Specialist

Department:

Revenue Cycle Management

Reports To:

Cash Posting Manager

Location / Work Environment:

Onsite, Clearwater, FL

Worker Classification:

W2 Employee

FLSA Status:

Non-Exempt

Job Level, if applicable:

Standard

Job Purpose

The Cash Posting Specialist is responsible for accurately posting, reconciling, and auditing insurance and patient payments across multiple business entities to support efficient revenue cycle operations. This role ensures payments are applied accurately and timely using Explanation of Benefits (EOBs), Electronic Remittance Advice (ERA), bank lockbox files, and internal billing systems. The position supports organizational financial integrity through payment reconciliation, discrepancy resolution, audit support, and collaboration with Revenue Cycle, Finance, and operational teams to ensure accurate cash application and compliance with applicable billing and documentation standards.

Key Responsibilities

Essential Duties

Payment Posting & Multi-Entity Reconciliation

• Post insurance and patient payments accurately and timely across multiple DME entities, ensuring payments are applied to the correct entity, patient account, and claim.
• Apply payments and adjustments based on EOBs and ERAs, including contractual allowances, deductibles, coinsurance amounts, refunds, and recoupments.
• Balance daily cash activity by entity and reconcile postings to bank deposits and lockbox totals.
• Identify and resolve unapplied cash, misapplied payments, posting discrepancies, and reconciliation variances.

Lockbox & Bank Processing

• Process and review daily bank lockbox files for insurance and patient payments.
• Reconcile lockbox transactions to billing system postings by entity.
• Investigate and correct discrepancies between bank records, lockbox files, remittance documentation, and system entries.

Data Entry & Documentation

• Accurately enter payment data into billing, accounting, and tracking systems while maintaining proper entity segregation.
• Maintain detailed documentation supporting payment posting activity for audit and compliance purposes.
• Ensure remittance information is properly indexed, stored, and accessible according to established documentation standards.

Audits & External Vendor Support

• Perform routine and ad hoc audits of payment posting accuracy across assigned entities.
• Support external vendors by validating payment posting activity, providing documentation, and reviewing reconciliation results.
• Assist with internal audits, external reviews, and cash variance investigations.
• Identify recurring posting errors, trends, or process gaps and escalate findings to leadership.

Communication & Collaboration

• Collaborate with Billing, Accounts Receivable, Customer Service, Finance, and leadership teams to resolve payment posting issues.
• Communicate payment discrepancies and reconciliation concerns clearly and promptly.
• Coordinate with banking partners and external vendors regarding lockbox, remittance, and payment processing matters.
• Adhere to all cash handling, data integrity, confidentiality, and HIPAA compliance requirements.

Other Functions

• Assist with process improvement initiatives related to payment posting and reconciliation workflows.
• Support reporting and documentation requests as needed.
• Participate in departmental meetings, training activities, and continuous improvement initiatives.
• Performs other related duties as assigned to support operational and business needs.