Credit Balance and Refunds Processing
Credit Balance and Refunds Processing
Nearly 55% of credit balances result from incorrect postings. Mishandling these credit balances can become a potential liability for your practice. Errors such as misuse of debit codes, incorrect adjustments, and erroneous credit processing are challenging to resolve and may lead to compliance issues, legal risks, or even license revocation. At QWay Healthcare, we keep a close eye on your credit balances, overpayments, and refunds with complete transparency so you always have a clear picture of what you owe and what you’ve earned.
Our Approach to Credit Balance and Refund Processing
Credit Balance with Payers.
Every refund request is verified and validated, after which refunds are processed, and the patient account is reconciled.
Government payer refunds are fast-tracked and completed within 60 days, while patient refunds are issued as soon as the validation goes through to avoid compliance risks and delays.
Invalid or unclear refund requests are re-evaluated and appealed to ensure accurate resolution.
Why QWay Healthcare Is the Best Choice for Outsourced Credit Balance and Refunds Processing
Our team performs a detailed analysis of each account, including the Explanation of Benefits (EOB). We identify patient liability, verify adjustment accuracy, and flag any posting discrepancies.
We track and document every payment made to your practice while verifying insurance coordination. This prevents duplicate payments and ensures no two insurers are billed as primary payers.
We keep you posted on every transaction, credit balance, and pending request through reports and round-the-clock support. We aim to uphold your reputation and regulatory compliance while giving you complete visibility into your financial picture.
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