What are the responsibilities and job description for the Financial Counselor I position at Commonwealth Health?
Job Summary
The Financial Counselor I supports patient access and revenue cycle operations by verifying insurance coverage, securing financial arrangements, and coordinating all aspects of patient account management. This role serves as a key resource for patients by providing financial counseling, facilitating assistance applications, and ensuring accounts are processed accurately and in a timely manner. The Financial Counselor I interacts regularly with patients, insurance payors, and internal departments to promote account resolution and ensure a positive patient financial experience.
What We Offer
The Financial Counselor I supports patient access and revenue cycle operations by verifying insurance coverage, securing financial arrangements, and coordinating all aspects of patient account management. This role serves as a key resource for patients by providing financial counseling, facilitating assistance applications, and ensuring accounts are processed accurately and in a timely manner. The Financial Counselor I interacts regularly with patients, insurance payors, and internal departments to promote account resolution and ensure a positive patient financial experience.
What We Offer
- Competitive Pay
- Medical, Dental, Vision, and Life Insurance
- Generous Paid Time Off (PTO)
- Extended Illness Bank (EIB)
- Matching 401(k)
- Opportunities for Career Advancement
- Rewards & Recognition Programs
- Exclusive Discounts and Perks*
- Establishes payment arrangements with patients according to departmental policies and procedures.
- Accurately completes and submits financial assistance applications and follows up on required documentation.
- Verifies insurance eligibility and benefits, and ensures appropriate authorizations are obtained when applicable.
- Reviews daily admission and missed opportunity reports to ensure all accounts have a valid payment source or financial counseling documentation.
- Responds to patient inquiries regarding account balances, billing concerns, and insurance coverage; returns all patient calls in a timely and professional manner.
- Reviews and processes adjustment requests and monitors approved adjustments for accuracy.
- Maintains account documentation by recording all actions and communications in the appropriate system using correct comment types.
- Establishes and maintains communication with patients throughout the continuum of care, including pre-admission, point-of-service, and post-discharge financial follow-up.
- Coordinates with other departments as needed to resolve account issues and ensure account accuracy.
- Retrieves and responds to voicemails from departmental customer service lines and ensures timely follow-up.
- Performs other duties as assigned.
- Maintains regular and reliable attendance.
- Complies with all policies and standards.
- 0-2 years of experience in healthcare registration, billing, collections, or a related field required
- 2-4 years of experience in financial counseling or insurance verification preferred
- Knowledge of healthcare billing and insurance verification processes.
- Strong interpersonal and communication skills with a customer service focus.
- Ability to organize and prioritize tasks in a fast-paced environment.
- Proficiency in Microsoft Office and electronic health record systems.
- Ability to maintain confidentiality and professionalism in all patient interactions.