Revenue Cycle Specialist III Refund Analyst

Fully Remote • ESP Executive Offices - Dallas, TX 75038

• Level: Experienced
• Position Type: Full Time
• Education Level: Not Specified
• Travel Percentage: None

About the Role:

As a Revenue Cycle Specialist III Refund Analyst, you will be responsible for researching, analyzing, reconciling, and resolving credit balances within patient and insurance accounts to ensure accurate financial records and timely refund processing. This position plays a critical role in maintaining the integrity of accounts receivable by identifying the root causes of credit balances, correcting payment discrepancies, and ensuring appropriate refunds are issued in accordance with payer guidelines, contractual obligations, organizational policies, and applicable regulatory requirements.

The ideal candidate demonstrates strong analytical and problem-solving skills, attention to detail, and a comprehensive understanding of medical billing, insurance reimbursement, payment posting, and accounts receivable processes. This individual must be capable of independently managing a high-volume workload while consistently meeting established productivity, accuracy, and turnaround-time expectations.

What You’ll Do:

• Review, research, and resolve credit balances on patient and insurance accounts to ensure accurate account balances and financial reporting.

• Identify and investigate the root causes of credit balances, including duplicate payments, overpayments, incorrect contractual adjustments, payment posting errors, insurance coordination issues, and patient overpayments.

• Analyze account histories, insurance remittance advice (ERA/EOB), payment transactions, contractual adjustments, and claim details to determine appropriate resolution.

• Verify that all applicable insurance claims have been accurately processed and adjudicated before initiating refunds.

• Identify opportunities to correct credit balances through appropriate payment transfers, adjustments, or account corrections when permitted.

• Ensure credit balances are resolved timely and accurately to prevent aging, financial discrepancies, and compliance concerns.

• Maintain thorough and accurate documentation of research findings, account corrections, and resolution actions within the practice management system.

• Review, research, and resolve credit balances on patient and insurance accounts to ensure accurate account balances and financial reporting.

• Identify and investigate the root causes of credit balances, including duplicate payments, overpayments, incorrect contractual adjustments, payment posting errors, insurance coordination issues, and patient overpayments.

• Research, validate, and process patient, insurance, and third-party refund requests in accordance with established standard operating procedures (SOPs).

• Determine the appropriate refund recipient and amount by reviewing payment histories, insurance benefits, contractual agreements, and account activity.

• Verify refund eligibility and ensure all outstanding claims, balances, and applicable payment adjustments have been appropriately addressed before processing.

• Identify and prevent duplicate refunds, incorrect payment reversals, and refunds issued to unauthorized recipients.

• Ensure refund transactions are accurately applied and documented within the electronic health record (EHR) or practice management system.

• Monitor refund requests, pending approvals, and outstanding transactions to ensure timely completion.

• Maintain accurate refund tracking records and supporting documentation for audit and reconciliation purposes.

• Escalate complex refund discrepancies, potential financial risks, and unresolved issues to leadership as appropriate.

• Analyze account histories, insurance remittance advice (ERA/EOB), payment transactions, contractual adjustments, and claim details to determine appropriate resolution.

• Verify that all applicable insurance claims have been accurately processed and adjudicated before initiating refunds.

• Identify opportunities to correct credit balances through appropriate payment transfers, adjustments, or account corrections when permitted.

• Ensure credit balances are resolved timely and accurately to prevent aging, financial discrepancies, and compliance concerns.

• Maintain thorough and accurate documentation of research findings, account corrections, and resolution actions within the practice management system.

• Maintain strict adherence to departmental SOPs, organizational policies, payer requirements, and applicable state and federal regulations.

• Ensure refunds and credit balance adjustments are processed in accordance with established approval requirements and financial controls.

• Protect confidential patient and financial information in compliance with HIPAA regulations.

• Maintain complete and accurate account documentation to support internal audits, external reviews, and regulatory compliance.

• Identify recurring errors, workflow deficiencies, and potential compliance risks and communicate findings to leadership.

• Demonstrate accountability for the accuracy, completeness, and integrity of all assigned work.

• Follow established escalation procedures when identifying unusual account activity, potential duplicate payments, or significant financial discrepancies.

Physical and Work Requirements

• Ability to work at a computer for extended periods.

• Ability to review detailed financial records and account documentation accurately.

• Ability to manage multiple assignments in a deadline-driven environment.

• Must maintain confidentiality of patient, financial, and organizational information.

• Regular and reliable attendance and adherence to established work schedules are required.

Qualifications

Required Qualifications & Requirements:

• High school diploma or GED required; additional education in healthcare administration, medical billing, or a related field preferred.

• Minimum of 2 years of experience in medical billing, accounts receivable, payment posting, credit balance resolution, or insurance refund processing preferred.

• Working knowledge of medical billing procedures, insurance reimbursement methodologies, and patient accounting processes.

• Understanding of insurance remittance advice (ERA/EOB), contractual adjustments, coordination of benefits (COB), and payer reimbursement guidelines.

• Experience researching payment discrepancies, overpayments, and account reconciliation issues.

• Proficiency with electronic health record (EHR) systems and medical practice management software.

• Strong computer skills, including Microsoft Excel, Outlook, and other Microsoft Office applications.

• Ability to interpret detailed financial transactions and accurately calculate refund amounts.

• Strong written and verbal communication skills.

• Demonstrated ability to work independently while meeting established productivity and quality expectations.

Preferred Qualifications

• Experience with eClinicalWorks (eCW) or comparable practice management systems.

• Previous experience processing patient and insurance refunds in a multi-practice healthcare environment.

• Knowledge of Medicare, Medicaid, commercial insurance, and managed care reimbursement requirements.

• Experience with credit balance aging reports, refund tracking systems, and accounts receivable reconciliation.

• Familiarity with electronic payment posting, 835 files, and insurance remittance processing.

• Experience identifying and correcting payment posting errors, duplicate payments, and unapplied credits.

• Certified Professional Biller (CPB), Certified Revenue Cycle Specialist (CRCS), or similar healthcare revenue cycle certification preferred.

Core Competencies

• Attention to Detail: Maintains a high level of accuracy when researching accounts, processing refunds, and performing financial adjustments.

• Analytical Thinking: Evaluates complex account activity and identifies root causes of discrepancies rather than relying solely on temporary corrections.

• Problem-Solving: Demonstrates initiative and sound judgment in independently researching and resolving account issues.

• Accountability: Takes ownership of assigned responsibilities, follows established procedures, and ensures work is completed accurately and timely.

• Time Management: Effectively prioritizes assignments, manages multiple work queues, and consistently meets deadlines.

• Communication: Clearly communicates account findings, questions, concerns, and workflow barriers to appropriate stakeholders.

• Adaptability: Adjusts to changes in payer requirements, practice workflows, departmental processes, and organizational priorities.

• Teamwork: Collaborates effectively with colleagues and supports departmental goals and operational efficiency.

• Compliance: Demonstrates consistent adherence to SOPs, financial controls, and applicable regulatory requirements.