Credit Balance

Credit Balance Arun V December 3, 2022
Healthcare Services

Credit Balance

Do not take Credit balances as easy as they look. Healthcare systems often overlook an important aspect of the revenue cycle; credit balance. Being complaint and reducing credit balances is extremely important and with SoftLogan, realize more revenue and resolve all your Credit Balances. All improper or excess payments are under scrutiny with the help of our analysts with years of experience in the healthcare industry

Credit-Balance
Healthcare Services
Charge Entry & Charge Audit
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Developing strategy
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Blazing performance
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Medical Coding Services
Do not take Credit balances as easy as they look. Healthcare systems often overlook an important aspect of the revenue cycle; credit balance.

Overpayments, deductibles, and co-pays – a number of reasons can result in healthcare service providers receiving excess money compared to the medical services rendered charges. Further, state insurance recoupment laws and variability in contract terms can produce process errors leading to credit balance. This translates into a significant risk in the revenue cycle as the excess money needs to be promptly refunded. Also resolving credit balances is critical to maintain compliance. Failure to do so could result in litigation, fines and reputational damage. Credit balance also has a direct impact on your revenue management as an excessive credit balance can provide an inflated view of the healthcare service provider’s financial health. 

Our services help you to resolve the credit balance accounts and minimize the risks. Soft Logan’s credit balance service 

  • Offers a detailed study of the entire book of accounts. 
  • Validates every refund request before initiating action
  • Analyses the patient credit balance to understand the nature of the error, process refund, and avoid such errors
  • Analyses the insurance payers’ credit balance and processes refunds for valid discrepancies arising from them. We also raise an appeal for invalid requests.
  • Checks for double payments for a single claim, payments from more than one insurance provider for a single claim as well as duplicate payments from both patient and payer for a single claim.

It’s time to optimize your accounting system, get a more realistic financial status of your business and avoid compliance and credibility risks. Connect with our experts now.

Healthcare Services
  • Charge Entry & Charge Audit
  • Medical Coding Services
  • Medical Coding Audit
  • Credit Balance
  • Eligibility Verification & Prior Authorization
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  • Remittance Processing
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  • Manual Verification vs. Other Methods
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