Financial Counselor Job Description
Financial counselor
provides oversight for preparation of Medicaid/Medicare cost report data—including data needed for subsequent third party audits--for the Managing Director of Reimbursement, including data reconciliation back to the general ledger.
Financial Counselor Duties & Responsibilities
To write an effective financial counselor job description, begin by listing detailed duties, responsibilities and expectations. We have included financial counselor job description templates that you can modify and use.
Sample responsibilities for this position include:
Chart preparation Patient Scheduling Test result accumulation Transcription review and correction Abstracting/Charging Data quality/integrity/Insurance confirmation
Screens all self pay patients, identifies solution(s) and facilitates patient payment and/or solution application process (manual and/or electronic)
Post ER and Patient Access deposits into PA system
Contact insurance companies for patient benefits and precertification requirements
Review alpha census daily for visits exceeding the original length of precertification •
Assist patients with payment arrangements and charity applications
Work closely with outside agencies in helping patients apply for Medicaid and state aid
Maintain insurance files regarding updates and changes
Enter pertinent insurance information into CPCS and prorate account
Obtains Pre authorization for radiation services prior to treatment
Financial Counselor Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Financial Counselor
List any licenses or certifications required by the position: CAC, CPR, CHAM, CAAS
Education for Financial Counselor
Typically a job would require a certain level of education.
Employers hiring for the financial counselor job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and High School Degree in Business, Education, Medical Terminology, Communication, Computer, Associates, Healthcare, Accounting, Graduate, Supervision
Skills for Financial Counselor
Desired skills for financial counselor include:
Third party reimbursement requirements and regulations
Data entry and general office procedures
Experience using medical terminology
General business operations
Insurance and coding
Scheduling
Medical terminology
Occurrence reporting system and utilizes system to report potential patient safety issues
Third party payors and insurance verification procedures
Medical software
Desired experience for financial counselor includes:
Well lit, air conditioned space in the hospital, noise level is moderate
Receiving all patient account inquiries via telephone
Review patient account information in out billing system and document accordingly
Generate daily and weekly reports
Communicate with staff to obtain requested information
Record receipt of information into tracking system
Financial Counselor Examples
1
Financial Counselor Job Description
Job Description Example
Our company is growing rapidly and is looking for a financial counselor. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for financial counselor
- Receives and processes mail correspondence from both internal and external customers regarding outstanding balances as a result of statements sent
- Performs review and research procedures on billing issues on unresolved patient accounts
- Verifies and updates demographic and insurance information
- Initiates insurance billing either electronically or via the use of the Electronic Work file transfer process within the billing systems for accounts classified as Self-Pay in error
- Identifies and verifies coverage under the government health insurance programs
- Creates budget installment payment plans for those callers in need
- Advises callers about insurance and payment options in order to secure revenue for URMC and HH
- Perform tasks associated with charge entry
- Research rejected claims due to registration or charge entry errors
- Follow up on insurance claims less than 45 days old
Qualifications for financial counselor
- Audit system-generated reports for payments, problems or errors
- Review and authorize coding change requests to ensure compliant billing practices
- Review miscellaneous cash receipts and direct to appropriate department of processing
- Verify coverage through Emdeon/Navinet/Passport, and pull appropriate referrals
- Coordinate & communicate insurance issues with appropriate personnel
- Ability to function efficiently and professionally with minimum of supervision
2
Financial Counselor Job Description
Job Description Example
Our company is hiring for a financial counselor. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for financial counselor
- Identify and assist patients/guarantors in obtaining other sponsorship including third party liability, workers compensation, COBRA, government health or other programs, and free or discounted drug programs
- Assist patients/guarantors who may be eligible with qualifying for assistance under PH&S Charity Policies and Procedures and helping them through the application process
- Work regularly with providers about patient care plans including medication assistance programs, clinic treatment plans and discharge to ensure charity approvals are appropriate based on clinical financial need
- Make charity determinations within approval limits
- Follow up with patients/guarantors to discuss resolution of account balances remaining after insurance or other sponsorship/charity approval, including payment plans and discounts under PH&S and ORC discount policies
- Work proactively with patients/guarantors to resolve account balances, ensuring only those accounts that are truly uncollectible drop to self pay
- Review and respond to applications within the prescribed timeframes verbally and/or in writing
- Investigate financial information relating to the application for Financial Assistance
- Respond to inquiries via telephone and/or letter in a timely fashion
- Coordinate status reports to the management team
Qualifications for financial counselor
- Ability to juggle multiple insurance issues
- ACD Software Training
- Website Insurance Training (Navinet, WebMD, Passport)
- EPIC training & testing (Prelude/Cadence)
- Registration Essentials
- Cardiac Center databases
3
Financial Counselor Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of financial counselor. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for financial counselor
- Maintain and process current hold bills to ensure timely adjustments and billing to patients occur
- Process adjustments based on reports delivered from management team
- Review and make recommendations for high dollar financial assistance balances to management on a weekly basis
- Completion of productivity tracking as defined by management
- Coordinate all Financial Assistance application efforts with the Patient Services staff
- Perform account registration edits and account adjustments for the Financial Assistance program
- Act as a back up in staffing crisis to receive incoming calls from both internal and external customer regarding billing issues, in a timely and customer friendly manner
- Act as a backup for vacations and staffing crisis to meet with patients directly regarding billing issues and financial assistance questions for the Financial Coordinator located within the hospital
- Perform review and research procedures on billing issues on patient accounts
- Responsible for referring accounts to the Medicaid Liaison when other insurance can not otherwise be secured
Qualifications for financial counselor
- Requires detailed knowledge of hospital admitting/registration and financial counseling function
- Three - Five years or more previous experience in a healthcare business office and or Hospital Registration department with experience in billing, reimbursement and collections desirable
- Previous patient registration, cashiering, preferred knowledge of insurance verification, authorization and billing process
- Understands and is knowledgeable with all payers, Medi-Cal and Medicare programs
- Must be able to work independently and be able to work at multiple campuses
- Bilingual capability (English/Spanish) desirable
4
Financial Counselor Job Description
Job Description Example
Our innovative and growing company is looking for a financial counselor. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for financial counselor
- Handles Insurance questions and/or obtains information from various NYUMC areas including but not limited to clinics, physicians, and patients, attorneys, employers, payers, and outside agencies via telephone, mail, or in person associated with transplant matters
- Determines the extent of liability for insurance plans, coordinates of benefits and personal responsibility
- Secures documentation of insurance liability via internal and external resources
- Reviews and interprets insurance group pre-certification requirements
- Acts as the patient advocate with the patient and/or family members and liaison with the insurance companies to assist in obtaining insurance information
- Obtain detailed benefit information for all aspects of the transplant process, including Pharmacy, inpatient, outpatient care, transplant coverage
- Confirm demographic information
- Act as liaison with therapist and the Credit Department to ensure that patients are informed in accordance with hospital financial policies
- Review alpha census daily for visits exceeding the original length of precertification and work closely with utilization review for concurrent certification
- Forward problems or concerns to Patient Access Manager
Qualifications for financial counselor
- Strong interpersonal/public relations skills and the ability to work effectively with a wide range of customers in a diverse environment the occasional hostile or disgruntled patient
- Advanced working knowledge of available community programs and grants
- Enter notes into the collections system for all patient encounters
- Consistently receive and receipt payments from patients for hospital services in accordance with internal cash control procedures
- Interact with Patient Account Services Insurance Verification Department in establishing up-front payment arrangements with patients
- Demonstrate knowledge of occurrence reporting system and utilize system to report potential patient safety issues
5
Financial Counselor Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of financial counselor. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for financial counselor
- Work with clinic staff to ensure patient registration is accurate
- Consistent use of AIDET system for excellent service
- Assist with inquiries from walk-in patients regarding billing problems in conjunction with the Patient Business Services Department
- Counsel patients and family on insurance matters, outside resources and patient's financial liability
- Determine an estimated liability based on expected charges and potential coverage for all urgent/unscheduled patients, when time allows
- Direction and guidance should be sought from the Team Lead or Department Manager as necessary
- Follow up with patients when applicable
- Identify alternate payment or provider options based on departmental policy and procedure, and patient willingness to pay
- Identify/counsel potential and repeat/recurring bad debt patients to prevent the rendering of non-urgent services
- Initiate/complete requests for Charity Applications
Qualifications for financial counselor
- Two years experience in hospital medical or insurance billing preferred
- CAC - Certified Application Counselor
- State Navigator License
- Identify, assess and secure funding source for payment of anticipated healthcare services or services already rendered for inpatients and select outpatients
- Recognize and evaluate numerous socioeconomic factors in the decision making process to determine the ability to pay or eligibility for financial assistance
- Utilize Federal, State, and private programs to advocate for resolutions of patient accounts