• Financial Assistance Program

  • Nov 23 2021
  • Length: 15 mins
  • Podcast

Financial Assistance Program

Listen for free

View show details

  • Summary

  • Financial Assistance covers the full spectrum of the Revenue Cycle. Identifying the patients who are most in need or helping to find resources that would provide assistance to patients, and explaining health insurance benefit information are among the most common job functions of a financial advisor. A "patient in need" is anyone who expresses a concern with being able to afford care. Patients will undergo a screening process that consists of gathering information about income and household size to determine eligibility for assistance. Bank statements, tax returns, and paystubs may be needed to complete an application. Financial assistance referrals can come from Case Management, Scheduling, Pre-Access, or Point of Service Patient Access Staff. It is preferable to resolve the patient's financial concerns prior to the day of service so they are able to focus on their treatment. Customer Service from the billing department can also refer a patient for Financial Assistance screening. Patients presenting to the emergency department as "self-pay" will fall into the FA workqueue. Refer the patients to an advisor for further information. The Amount Generally Billed (AGB) is a requirement from the IRS to conduct a lookback calculation yearly that determines the percentage of what we were reimbursed for a particular procedure. An example is a patient that received a service with a total cost of $1000, but we were reimbursed $500 by Medicare. The AGB percentage would be 50%. The percentage varies across the different regions. If screening has not started for a self-pay patient, we cannot collect more than the AGB percentage as a "Good Faith" deposit. The IRS requires all Patient Access staff to know: That we have a financial assistance program and where to find the information How Financial Assistance eligibility is determined (Plain Language Summary) That the patient has 30 days from the start of the application to return all the required documents along with the completed application Each area should have: FA tent cards at every registration desk A FA poster in every waiting area Updated Plain Language pamphlets available in multiple languages Requirements to work as a Financial Advisor/ Financial Counselor Financial Advisor requires a Bachelor Degree Financial Advisor requires 3 years of experience in healthcare Strong customer service skills You can reach Vidette @ Vidette.Owens@fmolhs.org
    Show More Show Less
Show More Show Less

What listeners say about Financial Assistance Program

Average customer ratings

Reviews - Please select the tabs below to change the source of reviews.

Audible.co.uk reviews

Amazon reviews
No Reviews are Available