Greg Balasus has over 20 years of healthcare financial services management experience. His career began in the collection and outsource sector of the industry where he managed the liquidation of receivables and ran uninsured account resolution programs. From there, Greg moved into a management role with a newly formed multi-hospital medical system focusing on receivables management, operations improvement, and the creation of a centralized business office. Prior to joining I3HCC, Greg spent over 12 years at Greater Baltimore Medical Center where he served as Director and then Senior Director of Patient Financial Services.

Some examples of Greg’s prior experience and accomplishments include:

•  Days in Accounts Receivable: Consistent peak performance on Maryland Hospital Association days in receivable comparison reports coupled with maintenance of strong cash to revenue results. Also, managed credit balance receivable well below established targets.
• Uncompensated Care: Continuous uncompensated care improvement with consistent year to year reduction of bad debt expense.
• Financial Assistance Programs: Oversight of financial assistance program achieving compliance with all new State of Maryland requirements while implementing programs that substantially expanded the number of patients certified.
• Project Management: Successfully led and participated on multi-disciplinary performance improvement teams focusing on outbound ambulance transport, enhanced sub-acute performance, improved case mix index, redesign and operational improvement of Care Management department.
• RAC Experience: Established RAC readiness program including design and flow for processing audit requests, response, tracking, appeal and continuous operations improvement.
• Document Imaging/Electronic Medical Record (EMR): Established and integrated document imaging system(s) resulting in increased cash flow and decreased bad debt expense.
• Legacy and AR Conversion: Conversion of hospital information system and liquidation of legacy system receivable with quick recovery to pre-conversion receivable performance.
• HIPAA: Expansion of HIPAA transaction utilization resulting in increased efficiencies, reduced staff and enhanced receivable performance. Introduction of software and creation of denial management process resulting in timely response, increased productivity, decreased bad debt expense and increased cash flow.
• Human Resources Initiatives: Creation and implementation of multiple employee satisfaction improvement initiatives resulting in low volume of employee turnover.
• Productivity Improvements: Numerous ongoing performance improvement initiatives resulting in steady reduction of department FTE count while receivable performance improved.

Greg earned a Bachelor of Arts in Business Management from Towson State University. He is a member of the Maryland Chapters of Healthcare Financial Management Association and the American Association of Healthcare Administrative Management.

 Industry Experience

• Multi-Hospital Health Systems
• Academic Medical Centers
• Community-Based Hospitals
• Physician Practice Groups
• Receivables Management Corporations