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)
Saint Joseph Hospital is a 433-bed facility located in Lexington Kentucky. Founded in 1877 a small group of Sisters of Charity of Nazareth in Kentucky led by Sister Euphrasia Stafford began their health ministry. Their mission was to provide compassionate care to the poor and underserved – a tradition still carried out today. Saint Joseph Hospital primarily serves central and eastern Kentucky with a full range of services including distinguished awards for cardiology orthopedics and stroke care. CHI Saint Joseph Health supports 5000 active employees 8 hospitals specialty clinics and a Medical Group with more than 200 locations across Central and Eastern KY. CommonSpirit Health was formed by the alignment of Catholic Health Initiatives (CHI) and Dignity Health in 2019. With our combined resources CommonSpirit is committed to building healthy communities advocating for those who are poor and vulnerable and innovating how and where healing can happen both inside our hospitals and out in the community.
JOB SUMMARY / PURPOSE
The Financial Counselor assists patients by providing information to patients who require assistance navigating
through their financial options.
ESSENTIAL KEY JOB RESPONSIBILITIES
1. Provide information to patients on costs, payment methods and alternatives to payments, including
charity care.
2. Work with clinic staff to proactively identify patients with potential need for financial assistance.
3. Counsel patients on billing processes, hospital and clinic statements and availability of financial assistance.
4. Document financial arrangements for future care.
5. Provide answers to reimbursement questions regarding health-plan eligibility, benefit issues, co-pay
requirements and medical referral requirements.
6. Receive and process charity care and/or financial assistance applications.
7. Work with health insurance providers to determine coverage and benefit limits.
8. Prepare estimates of procedures, calculates payments requirement, and informs patient of acceptable
payment arrangements on balance, both current and previous.
9. Verify financial information to determine insurance coordination of benefits, pre-certification/prior
authorization requirements.
10. Explain alternative medical financing and assists in completion of applications and/or contracts in order to
meet patient needs while assuring maximum reimbursement.
11. Perform other duties as assigned
The job summary and responsibilities listed above are designed to indicate the general nature of the work performed
within this job. They are not designed to contain or be interpreted as a comprehensive inventory of all job responsibilities
required of employees assigned to this job. Employees may be required to perform other duties as assigned.
Required Education and Experience: High school diploma or equivalent required.
Required Licensure and Certifications: N/A
Required Minimum Knowledge, Skills,
Abilities and Training:
2 – 4 years related experience.
Knowledge of clinic financial options, payment
alternatives and insurance billing/authorization
requirements.
Knowledge of federal and state payor requirements,
including Medicare, DSHS, HMO/PPO Contracts.
Knowledge of the meaning and usage of medical
terminology, abbreviations and coding protocols
(e.g./ICD-10) sufficient to perform the duties of the
position.
Strong analytic, organizational, communication and
interpersonal skills.
Demonstrated knowledge of accounting, credit and
collection laws and fundamentals, and current
insurance and government financial assistance
programs and regulations.
Possess a strong work ethic and a high level of
professionalism.
A team player who handles multiple projects
simultaneously in a fast paced environment.
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