Washington Regional Medical Center is our region's only locally governed, community-owned, not-for-profit healthcare system. Our system includes a 425-bed acute care hospital located in the heart of Fayetteville supported by our clinic system - including primary, specialty and urgent care operations - that span across Northwest Arkansas into Harrison and Eureka Springs. Being heavily supported and invested in our community makes Washington Regional a unique employer, encouraging staff to give back to the community in which we live and work and give back to each other.
Washington Regional Mission, Vision and Values prove to be a firm foundation and inspiration from which we fulfill our purpose.
Mission: Washington Regional is committed to improving the health of people in communities we serve through compassionate, high quality care, prevention and wellness education.
Vision: To be the leading healthcare system in Northwest Arkansas --- the best place to receive care and the best place to give care.
Values: To treat others - patients and their families, visitors, physicians, and each other - as we would want to be treated.
The role of the Cash Reconciliation Manager reports to the Central Billing Office Director. This position manages daily cash balancing between general ledger and bank for revenue received. This position performs daily cash posting reconciliation to ensure cash is balanced. This position will ensure cash is balanced to meet the organizational goals for stewardship of resources and internal controls and to ensure sound financial practices are maintained. This position will spend 90% of time sitting while performing work in a standard office setting. This position will spend 10% of work time standing and/or walking short distances.
Essential Job Responsibilities
Manages and oversees day-to-day activities and responsibilities of cash reconciliation of all incoming payments including third-party payer, patient, and vendor, to appropriate accounts
Manages and oversees day-to-day activities and responsibilities of patient accounts receivable refunds of all cash payments to patient and insurance balances for credit balances
Develops and implements procedures for central cash and refund accounts ensuring appropriate internal controls are in place
Manages operation of the accounting process for the central bank account and refund accounts ensuring stewardship of the financial resources and reporting controls between bank and general ledger are maintained
Reviews cash deposit trends and makes recommendations for resolution of issues to improve efficiency of reconciliation
Manages continuous quality improvement initiatives across the cash posting team and other departments to streamline processes
Manages refund process for reissues and voids in accordance with applicable laws and regulations
Manages and supervises the daily functions and responsibilities of departmental staff and promotes an environment towards career development among staff
Oversees hiring, allocation of daily work, annual and ongoing performance reviews, and reviews work of staff for accuracy and quality assurance
Maintains a working knowledge of applicable Federal, State, and local laws and regulations, as well as other policies and procedures to ensure integrity
Education: High school diploma or GED, required. Bachelor's Degree in Accounting, preferred.
Licensure and Certifications: N/A
Experience: Thorough knowledge of accounting principles, internal controls and financial management as normally obtained through a Bachelor's Degree in Accounting, along with a minimum of five (5) years of progressively responsible supervisory or management level accounting experience or an equivalent combinate of education and experience. CPA or equivalent experience preferred. Experience in a healthcare organization with experience in multi-entity financial statements is desired. Must possess a comprehensive knowledge of revenue cycle functions and systems, within the area of revenue management, specifically experience with cash reconciliation and refunds or other management functions related to revenue cycle activities. Must be comfortable operating in a collaborative, shared leadership environment. Must possess the ability to achieve results without direct line accountability.
Washington Regional Medical Center