A financial counselor serves you and your patients

Maximizing Collections: The Vital Role of Financial Counselors in Medical Billing

In the world of professional collections, medical billing is unique. So be creative in your approach to securing payment: Appoint a financial counselor to help you minimize adversarial dialogues both between collectors and patients and between patients and their insurance companies. Most of all, your financial counselor can save staff time and improve collections without irritating or confusing patients.

In larger practices, a financial counselor’s job can be quite narrow. You’ll want patients to see your financial counselor as an advocate, so—aside from excellent payer knowledge—look for a person with outstanding communication skills. Then go beyond awarding the title; equip and empower this person to do the job right. The counselor’s job duties include:

1. Remain well versed on the rules and nuances of your managed care, worker's comp, and other payer plans.

2. Learn about referrers, payers, and hospitals. Develop key relationships and contacts.

3. Work with patients early on to coordinate benefits.

4. Act as an advocate and liaison for patients with billing and insurance hassles.

About the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.