Hospital Financial Advisor
Role Summary:
The Hospital Financial Advisor serves as a vital bridge between clinical care and financial operations. This role is responsible for providing compassionate financial counseling to patients while ensuring rigorous accuracy in revenue cycle management through doctor-fee reconciliation and strategic board reporting.
Key Responsibilities
1. Patient Financial Counseling & Advocacy
- Procedure Cost Transparency:Meet with patients to provide clear, upfront estimates for doctor-ordered procedures, diagnostic tests, and surgical interventions.
- Low-Income Support:Proactively identify and assist low-income or uninsured patients in navigating financial assistance programs, sliding scale fees, or payment plans.
- Accommodation Planning:Educate patients on the costs associated with different room tiers and ancillary services to ensure informed decision-making.
- Insurance Navigation:Act as a liaison between patients and insurance providers to verify coverage, obtain authorizations, and explain out-of-pocket responsibilities.
2. Financial Reconciliation & Software Audit
- Month-End Tallying:Collaborate closely with the accounting team to perform month-end audits, ensuring all hospital software entries align with actual clinical activity.
- Doctor Fee Management:Calculate and tally specific charges and professional fees for each physician, resolving any discrepancies between system-generated reports and manual logs.
- Revenue Integrity:Verify that all billed services are captured accurately within the hospital information system (HIS) before final closing.
3. Strategic Reporting & Board Participation
- Monthly Board Reporting:Prepare and present comprehensive monthly reports to the Board of Directors detailing financial "ups and downs," revenue trends, and collection rates.
- Variance Analysis:Identify causes for revenue fluctuations and provide data-driven insights into hospital financial health.
- Marketing Collaboration:Propose strategies to improve hospital market share by analyzing financial data to identify underutilized services or competitive pricing opportunities.
Qualifications & Skills
- Education: Primary Education: Bachelor’s Degreein Finance, Accounting, Healthcare Administration, or a closely related business field is required.
- Preferred Certifications:Certification as a Certified Healthcare Financial Professional (CHFP)or Certified Patient Accounts Representative (CPAR)is highly desirable.
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- Additional training or certification in Medical Coding (CPT/ICD-10)is a plus to assist in accurate fee tallying.
- Experience Level:* 3–5 years of experience in healthcare revenue cycle management, medical billing, or financial counseling within a clinical or hospital setting.
- Experience:Proven experience in medical billing, healthcare finance, or patient financial services.
- Technical Proficiency:High level of comfort with hospital management software, billing systems, and advanced Excel for data reconciliation.
- Communication:Exceptional empathy and communication skills, specifically the ability to explain complex financial terms to patients during stressful situations.
- Analytical Mindset:Strong attention to detail for the purpose of tallying physician fees and identifying billing errors.
- Ethics:High standards of integrity when handling sensitive patient financial data and hospital revenue records.
Job Types: Full-time, Permanent
Pay: ₹35,000.00 - ₹45,000.00 per month
Work Location: In person
