Credit Balance in Medical Billing
A credit balance occurs when a healthcare provider is overpaid for services and owes money to the patient or insurance company.
Credit Balance in Medical Billing Explained
In medical billing, credit balances happen when the amount paid by the patient or insurance exceeds the billed amount. This can occur due to overpayment or incorrect billing. The provider must issue a refund to the payer or patient to resolve the balance.
For example, if an insurance company pays more than the approved amount for a service, the excess amount becomes a credit balance that the provider must refund.
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