Copay Accounting Specialist

The Copay Accounting Specialist plays a critical role in ensuring the financial integrity and efficiency of our copay assistance programs. If you possess a strong financial acumen, attention to detail, and the ability to manage cash flows effectively, we encourage you to apply for this position. Join our team and contribute to improving patient access to vital medications through our copay assistance initiatives.

We are seeking a detail-oriented and experienced individual to fill the position of Copay Accounting Specialist. This crucial role will be responsible for managing the accounting and financial aspects of our copay and drug assistance programs, ensuring accurate cash flow management, and maintaining financial transparency. The Copay Accounting Specialist will work closely with internal teams, pharmaceutical manufacturers, and third-party payors to ensure smooth operation of the programs and adherence to financial processes.

Cash Flow Management:

• Establish initial/baseline escrow funding needed to support copay program upon launch.
• Continuously monitor cash flow related to significant copay programs and reforecast funding needs accurately.
• Coordinate with pharmaceutical manufacturers to facilitate weekly replenishment of the escrow accounts.
• Coordinate with Copay Support team on set-up, implementation and sunsetting of copay programs
• Initiate weekly transfers between bank accounts to maintain appropriate funding levels.

Reconciliation and Reporting:

• Perform weekly reconciliations of escrow balances to bank accounts, ensuring accuracy and resolving any discrepancies promptly.
• Generate weekly and monthly reports as required by customer contracts, copay support team and executive leadership.
• Reconcile claims details in the systems used to administer the copay programs with the financial records.
• Reconcile copay enrollment and claim transaction counts in the systems used to administer the copay programs with the financial records.
• Reconciliation includes copay activities from/with all claim adjudicating vendors and direct manual reimbursements.
• Monitor and report on minimum program balances, promptly escalating any collection issues.

ERP Transaction Recording:

• Record and maintain accurate financial transactions related to copay programs in the ERP system.
• Ensure proper coding and classification of copay-related transactions.
• Collaborate with the finance team to ensure accurate and timely financial reporting from the ERP system.

Banking Administration:

• Administer the banking platform, including setting up users, managing access, and resolving password-related issues for internal users and customers.
• Generate necessary reports from the banking platform for financial analysis and reporting purposes.

Requirements

• Bachelor's degree in Accounting, Finance, or a related field.
• Proven experience in accounting or financial management, preferably with exposure to copay assistance programs or similar financial reimbursement models.
• Strong analytical skills and attention to detail to ensure accurate cash flow forecasting and reconciliation.
• Proficiency in financial software and tools, including banking platforms and Excel.
• Excellent communication and interpersonal skills to collaborate effectively with internal and external stakeholders.
• Ability to prioritize tasks, meet deadlines, and adapt to changing priorities in a fast-paced environment.
• Strong problem-solving abilities and the aptitude to identify and address issues promptly.
• Familiarity with healthcare and pharmaceutical industry practices and regulations is a plus.

Benefits

• Supportive, progressive, fast-paced environment
• Competitive pay structure
• Matching 401(k) with immediate vesting
• Medical, dental, vision, life, & short-term disability insurance

AssistRx, Inc. is proud to be an Equal Opportunity Employer. All qualified applicants will receive consideration without regard to race, religion, color, sex (including pregnancy, gender identity, and sexual orientation), parental status, national origin, age, disability, family medical history or genetic information, political affiliation, military service, or other non-merit based factors, or any other protected categories protected by federal, state, or local laws.

All offers of employment with AssistRx are conditional based on the successful completion of a pre-employment background check.

In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification document form upon hire. Sponsorship and/or work authorization is not available for this position.

AssistRx does not accept unsolicited resumes from search firms or any other vendor services. Any unsolicited resumes will be considered property of AssistRx and no fee will be paid in the event of a hire.