Revenue Cycle Financial Specialist - Full Time, Days

University of Chicago Medical Center; Burr Ridge (IL); Hybrid; USD 45,000 - 70,000; Full time

Job summary

An established industry player seeks a Revenue Cycle Financial Specialist to join their dynamic team. In this role, you will play a crucial part in ensuring patients receive the financial support they need while navigating the complexities of healthcare billing and insurance verification. Your expertise will help streamline processes, enhance patient experience, and contribute to the overall efficiency of the revenue cycle. If you are detail-oriented, possess strong problem-solving skills, and thrive in a collaborative environment, this opportunity is perfect for you. Join a forward-thinking organization that values your contributions and offers a flexible work environment.

Qualifications

• 2+ years of experience in medical insurance verification and billing.
• Strong knowledge of accounting principles and healthcare billing regulations.

Responsibilities

• Collect and verify patient demographic and insurance information.
• Assist patients with financial assistance and reimbursement processes.
• Ensure compliance with hospital financial policies and regulations.

Skills

Medical Insurance Verification

Hospital Finance

Problem-Solving Skills

Attention to Detail

Multitasking

Education

Bachelor’s Degree

Tools

Windows-based PC Systems

Job description

Job Description

Join one of the nation’s most comprehensive academic medical centers, UChicago Medicine, as a Revenue Cycle Financial Specialist within the Revenue Cycle - Patient Access Services Department.

This role involves collecting and verifying demographic, guarantor, and insurance information, as well as educating patients, physicians, staff, and others on financial processes.

• Ensure preauthorizations, referrals, and precertifications are completed according to payor requirements before scheduled encounters.
• Collaborate with clinical staff to gather necessary clinical information for authorization processes.
• Assist patients and their representatives in securing reimbursement for hospital and physician services.
• Help patients identify and select insurance coverage options and/or financial assistance programs.
• Work collaboratively with patients, UCM coverage vendors (currently GLM), clinical staff, Patient Financial Services, Ambulatory Patient Financial Specialists, urban health collaborative, and case management/social work teams.
• Manage all patient account types—outpatient, inpatient, ED, and UCPG—and maintain knowledge of the hospital's revenue cycle process.
• Understand hospital inpatient/outpatient policies and coordinate revenue flow for UCMC and UCPG.
• Utilize hospital revenue systems extensively and interact with patients, physicians, insurance companies, donors, and staff.

Essential Functions

• Perform registration functions: interview patients to collect demographic, guarantor, insurance, and financial data.
• Verify benefits and coverage for scheduled services.
• Prioritize work based on appointment dates to ensure completion before patient arrival.
• Obtain referrals, authorizations, or precertifications to ensure reimbursement; document this information accurately.
• Identify patients needing financial assistance and provide charity applications or referrals.
• Assist in managing multiple visit accounts and ensure compliance with hospital financial policies.
• Advise patients on their rights, responsibilities, and procedures related to payments.
• Act as an advocate for positive guest relations and inquiry resolution.
• Use available resources to find the best financial resolution for patients and UCM.
• Stay current on regulations affecting healthcare billing and reimbursement.
• Assist with financial assistance applications and ensure timely routing.
• Support Medicaid application processes and educate patients on Health Insurance Exchange plans.
• Collect payments prior to services using PPE system through PASSPORT.
• Investigate charge disputes, process refunds, and make account adjustments or payment arrangements.
• Escalate issues requiring administrative review.
• Meet productivity and quality standards, participate in audits, and perform other duties as assigned.

Required Qualifications

• At least 2 years’ experience in medical insurance verification and hospital finance, including billing.
• Proficiency with Windows-based PC systems.
• Strong initiative, problem-solving skills, and attention to detail.
• Ability to multitask and adapt to a changing environment.
• Knowledge of accounting principles, with excellent verbal, math, and presentation skills.

Preferred Qualifications

• Bachelor’s degree.

Position Details:

• Job Type/FTE: Full Time (1.0 FTE)
• Shift: Days
• Unit/Department: Revenue Cycle - Patient Access Services
• Work Location: Flexible Remote/Burr Ridge, IL
• CBA Code: 743 Clerical