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Tamarack Health
Patient Financial Specialist
Career Insights for Financial Operations Specialist
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Based on Wisconsin data
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What they do
A Financial Operations Specialist specializes in foreseeing or carrying out financial transactions or other routine operations that are influenced by compliance needs. Requires some knowledge of accounting, billing, customer service and contracts. Helps businesses and their customers resolve financial billing and reconciliation issues.
$50,995 / year median in Wisconsin
-9% projected decline
Job Description
The Patient Financial Specialist is responsible for promoting good customer service while processing and following through on insurance claims, posting and billing accounts receivable, and cashiering. Analyzes billings and submits notices of admission to third party payors. Demonstrates accuracy in carrying out the billing function. Completes and sends in claim forms for payment and statement charges, per instructions from third party payors. Determines schedules of benefits for patients when requested. Receives and files approvals for payment and mails statements for balance of charges, if applicable, to patients. Follows up on delayed claims. Accepts payments through the mail and over the counter, and posts checks received. Balances daily receipts and proves cash. Creates a daily cash sheet. Prepares bank deposit. Completion of a two-year post high school degree in office support services or equivalent job experience. Must be able to read, write, and speak the English language. Must be able to key accurately at a minimum of 40 wpm. Must be proficient with Microsoft Office applications and able to learn electronic billing software within 60 days of hire. Must be able to be flexible in work schedule. Must be able to work with many interruptions. Must be able to demonstrate effective customer service skills and to remain calm and levelheaded in stressful situations. Must demonstrate excellent communication skills in order to effectively explain bills, insurance issues, etc. to patients. Experience working in an area of finance such as accounts receivable, patient billing, or insurance claims processing preferred. Must be able to understand medical terminology and insurance laws/guidelines. Commensurate with position and experience.