Lead for Patient Financial Services

2 months ago

Bethesda, Maryland, United States MedVanta Full time
Position Overview

MedVanta stands as the largest physician-owned and operated next-generation management services organization (MSO) in the nation. Our offerings are tailored specifically for musculoskeletal (MSK) providers, extending beyond traditional MSO services, and equipping our clients with the essential infrastructure, data, technology, and administrative processes necessary for success in both the present and future.

At MedVanta, we foster an employee-centric culture that champions diversity and inclusion. Our supportive and empowering management approach makes MedVanta an ideal environment for enhancing your expertise while collaboratively paving a path to success.

Key Responsibilities
  • Conduct outbound collection communications regarding outstanding balances.
  • Assist in preparing the Monthly Pre-collection/Collection Agency Files.
  • Deliver timely reporting to billing leadership, including standard weekly updates.
  • Manage patient accounts through collection, posting, and oversight.
  • Review and analyze patient statements.
  • Engage with customers regarding overdue accounts to either collect the outstanding amount or negotiate installment payment plans.
  • Provide accurate patient and billing/claims information to insurance providers.
  • Update patient insurance details, verify eligibility, and queue claims for billing.
  • Monitor and address credit balances to ensure adherence to regulatory and contractual requirements.
  • Process patient credit card payments and allocate them to the appropriate visits on the account.
  • Evaluate accounts for potential bad debt placement and collaborate with the bad debt vendor on patient-related issues.
  • Apply relevant discounts and adjustments to patient accounts.
  • Coordinate with supporting departments, including coding, cash operations, and accounts receivable follow-up, to resolve billing and payment challenges.
  • Adhere to all regulations, policies, work procedures, and instructions.
  • Perform additional duties as assigned.
Reporting Structure

The Patient Financial Services Lead reports directly to the Assistant Director of Billing Operations and oversees a team of direct reports.

Qualifications, Education, and Experience

1. High school diploma required.

2. Minimum of 5 years of relevant experience, preferably in an orthopedic environment.

3. Proficient in Microsoft Office suite and electronic billing systems.

4. Comprehensive understanding of insurance, benefits, medical terminology, and medical billing processes.

Essential Skills and Competencies

1. Strong interpersonal skills with the ability to build relationships and influence within a decentralized organization.

2. Proven ability to organize, prioritize, and manage multiple tasks in a dynamic setting with a track record of achieving results.

3. Excellent verbal and written communication skills, demonstrating self-discipline and patience.

4. Ability to work independently.

5. Professional demeanor in presentation.

6. Proficient in reading, writing, speaking, understanding, and communicating in English.

Physical Requirements

1. Ability to sit for extended periods and lift up to 25 pounds.

2. Must utilize appropriate body mechanics while performing desk duties.

3. Frequent bending, reaching, repetitive hand movements, standing, walking, squatting, and sitting are required.

4. Adequate hearing to perform duties in person and over the phone.

5. Clear communication with patients in person and over the phone is essential.

6. Sufficient visual acuity to perform job duties, including reading materials from printed sources and computer screens.

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