Efficient Credit Balance Services

Credit balances pose significant risks in the healthcare revenue cycle, necessitating prompt and accurate resolution. NTMD RCM PRIVATE LIMITED offers comprehensive credit balance services to mitigate risks and ensure compliance with industry regulations.

Understanding Credit Balances

Credit balances often arise from over-payments by payers or excessive payments from patients, such as deductibles and co-pays. Failing to promptly refund these excess amounts can lead to compliance risks and financial inaccuracies.

Compliance Risks from Credit Balances

Failure to address credit balances promptly can result in litigation, fines, and reputational damage. Additionally, an inaccurate understanding of accounts receivable (A/R) situations can lead to erroneous financial decisions and decreased productivity of A/R team members.

Refunding Credit Balances

Our credit balance services include:

– Patient Credit Balances: Analyzing individual patient accounts, validating credit balances, and issuing refund checks to zero out account balances.

– Payer Credit Balances: Processing refunds within 60 days of the refund request, validating each request, and initiating refunds for valid requests. In cases of invalid requests, we conduct thorough validation and raise appeals as necessary.

Benefits of Our Services

By leveraging our credit balance and refunds processing services, clients can:

– Adhere to Guidelines: Ensure compliance with credit balance guidelines, mitigating regulatory risks.

– Protect Market Image: Maintain a positive market image through efficient credit balance resolution processes.

– Enhance Payer Relationships: Improve relationships with healthcare payers by promptly addressing credit balances.

– Mitigate Litigation Risks: Eliminate the risk of litigation and fines by adhering to refund protocols and regulations.