Job Role Description

Medical/Healthcare > Patient Financial Counselor

Salary National Average

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Short Description:

A Patient Financial Counselor is responsible for assisting patients with understanding their medical bills, insurance coverage, and available payment options to ensure informed financial decisions. They assess patient financial situations, provide estimates, and help set up payment plans or financial assistance programs as needed. The role involves coordinating with billing, clinical, and insurance teams, maintaining accurate records, and ensuring compliance with healthcare regulations. Patient Financial Counselors help improve patient satisfaction, facilitate timely payments, and support the overall revenue cycle. Strong communication, problem-solving, and customer service skills are essential for success in this role.

Duties / Responsibilities:

  • Meet with patients to discuss their financial responsibilities related to medical services and treatment plans
  • Review patient insurance coverage, eligibility, and benefits to determine out-of-pocket costs
  • Assist patients in understanding medical bills, payment options, and available financial assistance programs
  • Collaborate with billing, revenue cycle, and insurance teams to resolve coverage issues, denials, or underpayments
  • Establish payment plans and coordinate with patients to ensure timely collection of balances
  • Maintain accurate records of patient interactions, payment agreements, and financial counseling sessions
  • Educate patients on insurance terminology, coverage limitations, and financial policies of the healthcare facility
  • Generate reports on patient payment trends, outstanding balances, and financial counseling outcomes
  • Support revenue cycle improvement initiatives by identifying barriers to payment and proposing solutions
  • Provide guidance and training to new staff on patient financial counseling procedures and best practices

Skills / Requirements / Qualifications

  • Education: High school diploma or equivalent required; Associate’s or Bachelor’s degree in Healthcare Administration, Finance, or related field preferred
  • Experience: 1–3 years of experience in patient financial counseling, medical billing, or revenue cycle management
  • Technical Skills: Proficiency with electronic health records (EHR), billing systems, and spreadsheet/reporting tools
  • Analytical Skills: Ability to assess patient accounts, identify financial challenges, and recommend appropriate solutions
  • Communication: Strong verbal and written skills for explaining complex financial information to patients clearly and compassionately
  • Problem-Solving: Ability to resolve insurance coverage issues, denials, and payment disputes efficiently
  • Attention to Detail: Accuracy in documenting financial counseling sessions, agreements, and payment plans
  • Customer Service Orientation: Demonstrated ability to provide empathetic, patient-centered support while maintaining financial responsibility

Job Zones

  • Title: Job Zone Three: Medium Preparation Needed.
  • Education: Most occupations in this zone require vocational school training, on-the-job experience, or an associate's degree.
  • Related Experience: Previous work-related skill, knowledge, or experience is required for these occupations. 
  • Job Training: Employees in these occupations usually need one or two years of on-the-job experience and informal training with experienced workers. A recognized apprenticeship program may be associated with these occupations.
  • Job Zone Examples: These occupations usually involve communication and organizational skills to coordinate, supervise, manage, or train others to accomplish goals. 
  • Specific Vocational Preparation in years: 1-2 years preparation (6.0 to < 7.0)

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