Medical Credit Balance Refunds Services is the Best Solution to your Balance Refund needs
Medical credit card holders seeking a refund of their outstanding balance, who are willing to having their applications verified by the Credit Reference Agencies (CRAs) are eligible for Medical Credit Balance Refunds Services. We offer patients the opportunity to receive full or partial refunds on their medical billings. We strive with every patient to achieve closure, while thoroughly investigating the specifics of their individual case and offering the best possible result.
Billing and revenue cycle management is the most important in healthcare sector. Managing the credit balance refund process can be a complicated and time-consuming task. Organizations without an automated system spend the majority of the day tracking down patient refunds, finding old account files, and contacting patients to return these funds. This process is also prone to human error. Our Client Balance Management solution provides a fully automated system that ensures account balances are handled accurately, quickly, and efficiently.
Failure to properly return credit balances may result in high legal fees, fines, and even incarceration. To avoid such scenarios, it is critical that your credit balances are processed monthly by a professional team of experts.
Credit balances may give an inaccurate picture of the providers’ financial health, so prompt processing can give you the most accurate picture of your financial situation.
To ensure best-in-class service and eliminate the driven compliance risk, outsource your health care revenue cycle management system. We have a dedicated team that specialises in credit balance analysis and processing.
To avoid high legal fees, fines, and even incarceration, it is critical that your credit balances are processed monthly by a professional team of experts. Failure to properly return credit balances has resulted in severe penalties for many companies. To protect yourself and your business, contact our team today to discuss how we can optimize your credit balance process.
Key Functions of Credit Balances:
1. Credit Balance with Payers.
When credit is produced on an account as a result of overpayment from the payers, there are a variety of reasons. In order to validate and handle refunds, our team follows the processes below:
1.1. Verification. Each refund request is verified, and if it is valid, the refunds are processed and the patient accounts are reconciled.
1.2 Disputes. .To avoid unwanted reimbursements, we check refund requests again and submit an appeal/dispute with the payers if we find them to be invalid.
1.3 Prioritization of Refunds to Government Payers. Government refunds should be processed within 60 days after the date of the refund request. Our team prioritises inquiries from government payers and responds quickly to them.
2. Patient Credit Balance.We verify each account with a credit balance and provide refund checks to patients as soon as possible after confirming that they are legitimate credits to refund.
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