Credit balances result in an understatement of both profitability and days in A/R. Credit balances on selfpay accounts occur most often as the result of improperly posted payments from both patients and payers. Outsourcing plays a vital role in finding a cost-efficient and effective method to correct credit balances.

Medical billing industry data shows that more than fifty-five percent of the credit balances are caused because of incorrect allowances posting. Federal Register issued rules on credit balancing in March 2016 and as per the rules:

• Healthcare providers should repay the Medicare overpayments within sixty days of finding the overpayment, but they can take up to six months to investigate and confirm suspected overpayments.
• Providers are responsible for repaying the identified overpayments that have occurred in the past 6 years.
• Refunds, claim adjustments, credit balance, etc., can be used to repay overpayments.

iMetrix Health Solutions uses automated processes and advanced technology to clear credits quickly and applies machine learning to predict and clear future credit balances, reducing liabilities and increasing your bottom line.

OUR CREDIT BALANCING SERVICES INCLUDE: