Credit Balance Services In Medical Billing in Schofield Barracks

One of the most significant risks in the healthcare revenue cycle is the credit balance, which is the difference between the money received and the charges for the medical services given. While there are several causes of credit balance issues, the most frequent ones are payer overpayments and high deductible and co-pay payments. Either the payer or the patient must get reimbursement for these costs.

Credit balances are at risk of compliance

• A credit balance that is not paid off promptly may be subject to costly legal action, penalties, and even jail time.
• An enormous credit balance might lead to an inflated perception of the practice's financial health and can influence bad financial choices.
• The efficiency of the team is decreased when more resources are deployed or taken from the accounts receivable team to settle the credit amount.
• Conflicts lead to bad publicity, which lowers the flow of patients into practice.

Patient under Care Coding

Patient: We analyze each patient's account, identify, and validate credit balances, and perform refund controls to zero the account balance.

Credit Balance with Payers: Providers must process reimbursements within 60 days from the date of the request for reimbursement. We validate each request and, if deemed valid, process the reimbursement. If the reimbursement request is not valid, we will appeal after further validation.

Benefits

With our credit balance and repayment processing services, you can:

• Adhere to the credit balance guidelines.
• Protect your market image with a cost-effective process.
• Strengthen your relationship with health care payers.
• Eliminate the potential for disputes and fines.