The Financial Specialist partners with the Patient Assistance Center (PAC) and local hospitals, to identify and assist with implementing strategies to increase collections and reduce bad debt. The Financial Specialist is responsible for mastering use of applications and tools to estimate complex patient financial obligations, including copays, deductibles, and coinsurance and then meeting with patients to discuss payment options.
• Utilizes tools to estimate patient responsibilities including deductibles, coinsurance, and copays
• Follows up with patients via phone and mailings for collections post service
• Establishes secured payment plans with patients
• Works collaboratively across Patient Access and clinical departments to improve patient flow as it relates to point of service collections
• Meets in-person with patients in Emergency Room, Inpatient Floors and Outpatient Clinics to explain patient financial responsibilities and collect copays, deductibles, and coinsurance
• Maintains detailed understanding of commercial and government payer regulations
• Collects insurance information and relevant payments from patients
• Tracks financial performance and provides regular updates to Revenue Operations Leadership
• Participates in system-wide initiatives related to bad debt improvement
• Screens self-pay patients, identifying opportunities for Medicaid enrollment or cash collections
• Assists with all steps of Medicaid enrollment and Medical Hardship applications
• Receives and maintains Certified Application Counselor (CAC) designation
• Assists with other duties as assigned
REQUIRED KNOWLEDGE & SKILLS:
(Examples: Ability to work independently and take initiative; Good judgment and problem solving skills; Communication skills; Interpersonal and organizational skills; Level of confidentiality)
• Excellent customer service skills.
• Excellent communication skills (verbal and written).
• Knowledge of health insurance and reimbursement/billing required.
• Attention to detail, and advanced writing and presentation skills for communicating across a variety of stakeholders.
• Revenue Operations experience, including Patient Access, Registration, Scheduling and Financial Clearance.
• Experience level will also be a factor in lieu of educational requirements.
I. Education: Associates degree required; Bachelor's Degree (BA or BS) with emphasis in Business Administration and/or Healthcare preferred.
II. Experience (Type & Length): 3-5 years’ relevant work experience required.
IV. Software/Hardware: Meditech 6.1; MS Office; Revenue Cycle software
V. Other: Up to 30% travel within the division.
Job Status: Full Time
Job Reference #: 10252