Financial Counselor - Healthcare develops and facilitates payment plans for patients to finance medical expenses by coordinating between insurer, third party payer and patient. Confirms level, terms of coverage, and benefit limits with health insurance providers. Being a Financial Counselor - Healthcare advises patients of any alternative sources of funding or assistance available from social service agencies. Prepares and files any documentation needed to complete payment arrangements. Additionally, Financial Counselor - Healthcare may arrange for referrals or second opinions. Has general knowledge of insurance terms and practices. Requires a high school diploma. Typically reports to a supervisor or manager. The Financial Counselor - Healthcare works under moderate supervision. Gaining or has attained full proficiency in a specific area of discipline. To be a Financial Counselor - Healthcare typically requires 1-3 years of related experience. (Copyright 2024 Salary.com)
The Financial Counselor is responsible to provide financial assistance to patients with an inability to pay for services rendered. The incumbent is also, responsible to complete payment arrangements for unpaid balances not covered at discharge.
Monitors pre-admits to determine patient financial history for appropriate referrals.
Identifies indigent patients and begins process for reimbursement from appropriate government agency.
Conducts discussions regarding financial matters of highly sensitive nature with patients displaying the inability to pay. Extend a respectful manner to these patients while ensuring that the hospital’s best interests are protected.
Determines payment sources or agency eligibility.
Reviews medical records for eligible candidates for various charities.
Assist patients with the application process for medical financial assistance.
Evaluates and reviews financial information, prepares the application for submission to the appropriate agency.
Works in conjunction with outside agency to provide special accounts information.
Verifies Medicaid eligibility and forwards appropriate forms to Patient Accounts.
Maintains a working knowledge of funds and other resources available for qualified accounts.
Ensures that accounts using such resources meet the standard qualification.
Monitor monthly patient payment arrangement accounts to ensure timely payment activity.
Perform, in accordance with current policies and procedures, collections of delinquent contractual accounts necessary to ensure proper cash flow.
Identify and communicate to management any concerns which could result in an adverse impact to the hospital’s cash flow.
Perform other related assigned duties.
Associate Degree in business with two years demonstrated successful collections’ experience in a health care setting;
Or
High School Diploma with six years of demonstrated experience in a Patient Financial Services/Business Office/Patient Access office.
Special skills include knowledge of private insurance and government program requirements and knowledge of the Fair Debt Collection Practice regulations. Must be articulate and tactful, able to communicate verbally and in writing.
Must be able to handle multiple tasks in a busy environment and must be able to work with diverse personalities.