Forbes October 7, 2024
I thought this an interesting topic for this missive. In the scheme of the overall revenue cycle (RC), credit balances receive little attention though they are an important cog in the financial well-being of a healthcare enterprise. If not managed, credit balances can haunt clinics both financially and (potentially) legally. That is, if you don’t remedy outstanding balances, you can end up in Dutch (see Raising Arizona) with federal/state (Medicare/Medicaid) and commercial payers. And worse, if you know that you have a credit balance problem, and don’t address it, the Feds can come down hard on you (e.g. better to identify and remedy/self-report than for payers to find out on their own).
Lastly, if you’re planning an event like sale...
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