Cash Posting Specialist (Northridge, CA) (Finance)

We anticipate the application window for this opening will close on - 9 May 2025

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 Life
As a key member of Patient Financial Services, the Cash Posting Specialist is responsible for accurately posting and reconciling all payments received from patients, insurance companies, and other third-party payers. 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. The specialist collaborates with various teams to resolve discrepancies and ensure that the revenue cycle process is efficient and effective.

• 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.

Must Have: Minimum Requirements

To be considered for this role, please ensure the minimum requirements are evident on your resume.

• High School Diploma or equivalent
• 2 years of cash posting experience in a US healthcare environment

Nice to Have

• Demonstrated ability to prioritize work, handling daily and multiple tasks to completion within the time allotted.
• Ability to prepare forms, spreadsheets, and graphs.
• Experience with reading, and understanding medical policy information, taking into consideration pre-determination, referral, authorization, and contract terms.
• Experience with various insurance plans offered by both government and commercial insurances (i.e., PPO, HMO, EPO, POS, Medicare, Medicaid, HRA's) and coordination of healthcare benefits, including requirements for referral, authorization, and pre-determination.
• Experience with medical billing and collections terminology - CPT, HCPCS and ICD-9 coding.
• Experience with HIPAA guidelines and healthcare compliance.
• Previous experience in receiving and making outbound calls to patients to explain insurance benefits related to health insurance, and/or discussing patient financial responsibilities.
• Proficiency in navigating multiple screens and MS Office Suite

Diabetes Operating Unit:

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. We're committed to meeting people with diabetes where they are in their journey, always with an aim to make their lives easier. 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.

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.

The physical demands described within the Responsibilities section of this job description are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. For Office Roles: While performing the duties of this job, the employee is regularly required to be independently mobile. The employee is also required to interact with a computer, and communicate with peers and co-workers. Contact your manager or local HR to understand the Work Conditions and Physical requirements that may be specific to each role.

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.

Salary ranges for U.S (excl. PR) locations (USD):$40,000.00 - $60,000.00

This position is eligible for a short-term incentive called the Medtronic Incentive Plan (MIP).

The base salary range is applicable across the United States, excluding Puerto Rico and specific locations in California. The offered rate complies with federal and local regulations and may vary based on factors such as experience, certification/education, market conditions, and location. Compensation and benefits information pertains solely to candidates hired within the United States (local market compensation and benefits will apply for others).

The following benefits and additional compensation are available to those regular employees who work 20+ hours per week: Health, Dental and vision insurance , Health Savings Account , Healthcare Flexible Spending Account , Life insurance, Long-term disability leave , Dependent daycare spending account , Tuition assistance/reimbursement , and Simple Steps (global well-being program).

The following benefits and additional compensation are available to all regular employees: Incentive plans, 401(k) plan plus employer contribution and match , Short-term disability , Paid time off , Paid holidays , Employee Stock Purchase Plan , Employee Assistance Program , Non-qualified Retirement Plan Supplement (subject to IRS earning minimums) , and Capital Accumulation Plan (available to Vice Presidents and above, or subject to IRS earning minimums).

Regular employees are those who are not temporary, such as interns. Temporary employees are eligible for paid sick time, as required under applicable state law, and the Employee Stock Purchase Plan. Please note some of the above benefits may not apply to workers in Puerto Rico.

Further details are available at the link below:

Medtronic benefits and compensation plans

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 .

It is the policy of Medtronic to provide equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law. In addition, Medtronic will provide reasonable accommodations for qualified individuals with disabilities.

If you are applying to perform work for Medtronic, Inc. ("Medtronic") in any position which will involve performing at least two (2) hours of work on average each week within the unincorporated areas of Los Angeles County, you can find here a list of all material job duties of the specific job position which Medtronic reasonably believes that criminal history may have a direct, adverse and negative relationship potentially resulting in the withdrawal of a conditional offer of employment. Medtronic will consider for employment qualified job applicants with arrest or conviction records in accordance with the Los Angeles County Fair Chance Ordinance for Employers and the California Fair Chance Act.