Job Description

Job Summary 

The Business Office Coordinator is responsible for overseeing and managing all financial transactions, payable accounts processes, and financial reporting within a Thrive Senior Living community. This role ensures accuracy, compliance, and efficiency in financial operations, including invoice processing, vendor payments, financial approvals, and resident billing. The BOC must adhere to strict financial deadlines, ensuring timely completion of key accounting functions to support the community's overall fiscal health. Additionally, the BOC is responsible for aging report analysis, bad debt follow-up, Medicaid payment processing, and direct communication with residents and families regarding financial matters.

• Serve as the primary point of contact for residents and families regarding financial inquiries, billing concerns, and payment processing. 
• Respond promptly to emails, phone calls, and in-person inquiries, providing excellent customer service and clear financial guidance. 
• Ensure that changes in billing are processed in a timely manner, including updates to payment methods, responsible parties, and financial agreements. 
• Process and track billing change forms, ensuring accuracy and proper documentation. 
• Ensure ancillary charges are correctly applied and reflected on resident statements. 
• Facilitate rent increases, ensuring that notices are sent on time and that new rates are accurately reflected in the billing system. 
• Deposit checks and enter cash receipts in a timely manner. 
• Process move-ins, move-outs, and transfers in Yardi to ensure accurate resident records and billing. 
• Follow up on aging reports and outstanding balances, ensuring proactive collection efforts on past-due accounts. 
• Track and process Medicaid payments, ensuring all documentation and claim submissions are accurate and timely. 

Financial Management & Compliance:

• Meet deadlines for closing out the month in Full Count, ensuring accurate charge reports are generated and sent to CBD Support. 
• Meet deadlines for closing out American Express (AMEX) transactions, ensuring all charges and receipt backups are uploaded to Yardi Payables. 
• Meet deadlines for submitting long-term care insurance documentation, ensuring all invoices are processed and sent as required. 
• Meet deadlines for running billing and statements, ensuring timely and accurate resident billing. 
• Meet deadlines for submitting Medicaid billing, ensuring all documentation is complete. 
• Ensure accurate tracking and reconciliation of Medicaid payments, identifying and addressing any payment discrepancies or delays. 
• Monitor aging accounts receivable reports and follow up on outstanding balances, working to reduce bad debt and improve cash flow. 
• Assist in preparing and submitting financial reports to investors, ensuring CBD Support and the Community President are ready for the Financial Deep Dive call. 

Accounts Payable & invoice Processing:  

• Ensure all invoices are correctly formatted and rotated before uploading them to Yardi Payscan. 
• Accurately enter invoice numbers as they appear on vendor invoices to maintain proper tracking. 
• Verify outstanding balances and work with vendors to obtain missing invoices. 
• Ensure vendor payments are processed via invoices rather than statements. 
• Review and process expense reports, ensuring they include appropriate approvals from the Community President or VP of Operations. 

Financial Approvals & Workflows:

• Monitor and manage the Payables Approval Process within Yardi Payscan. 
• Ensure all invoices are approved by End of Business (EOB) Wednesday weekly. 
• Regularly check the Workflow Dashboard to track pending approvals and address delays. 
• Work with Community Team Leaders to maintain timely invoice approvals and vendor payments. 

Expense Management & Reconciliation:

• Oversee American Express (Amex) and Petty Cash reconciliations, ensuring correct documentation and timely submission. 
• Ensure petty cash transactions are documented with itemized receipts and reconciled biweekly. 
• Process vendor ACH payments, ensuring invoices are correctly labeled and tracked. 

Resident Billing & Medicaid Processing:

• Ensure Medicaid claims are submitted accurately and on time, minimizing claim rejections and payment delays. 
• Monitor Medicaid reimbursements, reconciling payments with outstanding charges. 
• Work with families and Medicaid agencies to resolve any payment issues or missing documentation.
• Follow up on outstanding resident account balances, implementing a bad debt recovery plan as needed. 
• Coordinate with third-party payers and insurance providers to ensure proper billing and payment processing.

Operational Efficiency & Support:

• Maintain an AP Organizational System, including structured digital filing of invoices and financial documents. 
• Ensure vendor and expense reimbursement requests are processed efficiently. 
• Keep records of vendor login credentials for online account access. 
• Act as a backup for AP functions and designate an alternative when out of the office. 
• Communicate with vendors regarding invoice discrepancies, payments, and credit applications. 

Vendor Relations & Compliance:

• Ensure that all vendor payments are made via check unless an emergency requires alternative payment methods. 
• Verify vendor W9 forms and contact information before setting up new vendors in the system. 
• Ensure that vendor payments comply with Thrive Senior Living’s financial policies. 
• Maintain communication with Accounting and Community Leadership regarding financial processes and approvals. 

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