SBN Healthcare Solution provides a wide range of services that clean the credit balance backlog from the aging report so that it reflects the exact profit of the practice. We are specialized in enhancing financial performance by efficiently managing the revenue cycle services.
Overpayment balances are a part of everyday life in a physician’s practice or hospital. Smaller credits might not affect the reports in any manner, but if not resolved lately, credit balance accounts affect the profitability of the practice and lead to misleading the reports.
Generally, credit balance arises due to incorrect adjustments, Incorrect Billing Correction, and improper use of transection codes, duplicate payment posting, or overpayments from carriers. Failure to address credit balance accounts in a timely manner results in the accumulation of huge credit balances and compliance risks if accounts are audited.
• Analyze Charge and payment posting distribution during payment posting
• Review Accounts for correct patient Liability & Adjustment
• Review for duplicate posting & overpayment
• Rectify posting & adjustment Errors
• Process refund or takeback if true Credit Balance found
Researching and rectifying all the overpayment account is very crucial work for a practice or individual because it required time and expertise which effect the daily work of internal staff and also increase the overhead. On the other hand, our team of highly dedicated professionals will research accounts with credit status, research the reason behind credit balance and take appropriate action to resolve it.