Financial Counselor

Job Summary:
The Financial Counselor provides financial guidance and assistance to patients and their families, ensuring they understand their financial responsibilities related to hospital services. The role involves helping patients navigate insurance coverage, payment options, financial assistance programs, and payment plans. The Financial Counselor will work collaboratively with other healthcare providers to ensure patients receive appropriate care without financial barriers.

Key Responsibilities:

Patient Financial Assistance:

• Review patient financial information to assess eligibility for financial assistance programs, including Medicaid, charity care, and sliding-scale discounts.
• Help patients complete necessary applications for financial aid and provide follow-up support to ensure successful processing.
• Educate patients about their insurance benefits, payment plans, and out-of-pocket costs.

Insurance Verification and Billing Support:

• Assist patients with understanding insurance coverage, pre-authorization requirements, and out-of-network issues.
• Collaborate with the billing department to resolve discrepancies or issues with patient insurance claims.
• Advise patients on payment options, including installment plans, and ensure timely follow-up to ensure account resolution.

Financial Education & Counseling:

• Provide one-on-one counseling sessions to explain complex financial matters related to healthcare services, including co-pays, deductibles, and non-covered services.
• Provide resources and referrals to other financial assistance programs or external agencies as needed.

Compliance & Documentation:

• Maintain accurate and up-to-date financial records and documentation in accordance with hospital policies and federal regulations.
• Ensure compliance with all relevant healthcare regulations, including HIPAA and financial aid laws.

Customer Service:

• Respond promptly to patient inquiries, resolve concerns, and advocate for the patient's financial needs within the hospital system.
• Display empathy and professionalism while interacting with patients and their families.

Collaboration:

• Work with the healthcare team, including physicians, social workers, and case managers, to support patients' financial needs.
• Participate in hospital initiatives to improve the financial well-being of patients and optimize financial counseling services.

Qualifications:

• Education:

• Bachelor's degree in finance, accounting, business administration, healthcare management, or a related field preferred.

Experience:

• Minimum of 2 years of experience in a financial counseling, billing, or healthcare financial services role, preferably in a hospital or healthcare setting.
• Knowledge of insurance verification, billing procedures, and financial assistance programs in healthcare.

Skills & Abilities:

• Strong analytical skills and the ability to explain complex financial information in a clear and empathetic manner.
• Exceptional customer service and interpersonal skills, with a patient-focused approach.
• Proficiency in using financial management software, billing systems, and Microsoft Office Suite.
• Detail-oriented, organized, and able to work independently and as part of a team.

For California Applicants:

We will consider for employment all qualified Applicants, including those with criminal histories, in a manner consistent with the requirements of applicable federal, state and local laws, including the City of Los Angeles' Fair Chance Initiative for Hiring Ordinance (FCIHO), Los Angeles Fair Chance Ordinance for Employers (ULAC), The San Francisco Fair Chance Ordinance (FCO) , and the California Fair Chance Act (CFCA).

This position is subject to a background check based on its job duties, which may include patient care, working with vulnerable populations, access to financial and confidential information, driving, working with heavy machinery, or working in a warehouse or laboratory environment. Due to these job duties, this position has a significant impact on the business operations and reputation, as well as the safety and well-being of individuals who may be cared for as part of the job position or who may interact with staff or clients.