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SmithRx · 1 day ago

Accounts Receivable Analyst

United States

Full-time

Remote

Mid Level

4+ years exp

SmithRx is a rapidly growing, venture-backed Health-Tech company dedicated to transforming the Pharmacy Benefit Management sector. The Accounts Receivable Analyst is responsible for managing a portfolio of accounts, optimizing cash flow, and enhancing customer relationships through proactive account management and problem-solving.

Health CareInformation TechnologyPharmaceutical

Responsibilities

Proactively manage the company's collection efforts in an ever changing, multi-party environment to ensure timely collection of invoices

Cultivate strong relationships with a high-volume portfolio of internal and external customers, serving as the primary point of contact for billing and receivable inquiries

Manage and prioritize multiple customer, TPA, broker, consultant, captive and other related party demands, exercising business judgement to resolve billing discrepancies, questions and delinquent payers

Investigate and perform detailed analysis in order to identify the root cause of billing or payment issues, collaborating cross-functionally to implement meaningful solutions

Manage and create reporting to internal stakeholders of collection efforts and delinquent accounts, including Days Sales Outstanding, Average Days to Collect, and other strategic actions taken to collect delinquent accounts

Exercise good business judgement discretion in managing escalated or at-risk accounts, independently determining the appropriate course of action which may include negotiating payment plans, settlement or recommending the suspension/cancellation of services

Train and mentor accounts receivable staff

Document and maintain internal control procedures related to invoicing and collection efforts. Develop and maintain evidence supporting such controls are executing as designed

With in depth knowledge of the customer portfolio, assist in developing the allowance for doubtful accounts in accordance with Accounting Standards Codification (ASC) number 326 - Financial Instruments: Credit Losses

Serve as a key partner during financial audits, providing in-depth analysis and explanation for account statuses, transaction histories and resolution paths

Develop and maintain documentation for Accounts Receivable procedures and actively participate in process improvement initiatives

Analyze cash application procedures and customer payment trends to identify opportunities for recommended process improvements to optimize cash flow

Prepare and present analysis on high-risk accounts to leadership, providing recommendations for mitigating financial loss while preserving the customer relationship

Qualification

Accounts Receivable ManagementFinancial AnalysisInvoicingCollectionsCash ApplicationsAccounting ReconciliationsInternal Control DocumentationMS Office SuiteERP ExperienceNegotiation SkillsProblem-Solving SkillsCommunication SkillsInterpersonal Skills

Required

4+ years of proven experience in a high volume multi-party accounts receivable role

Associate's degree or equivalent professional experience in Accounting or Business Administration

Proven experience in Invoicing, Collections, Cash Applications, Accounting Reconciliations and Internal Control Documentation (ie, Securities and Exchange Commission SOX Framework)

Demonstrated ability to negotiate and resolve conflict with external customers, and their related parties, while maintaining a positive and professional relationship

Proven ability to work independently, manage competing demands and make excellent business judgement in a fast-paced environment

Strong analytical and problem-solving skills with a proven track record of investigating complex issues and implementing solutions

Outstanding communication and interpersonal skills with a customer-first orientation

Expert understanding of accounts receivable and solid understanding of accounting policy

Highly skilled in MS Office Suite