Refund in Medical Billing
A refund refers to the return of overpaid funds from a healthcare provider to an insurance company or patient.
Refund in Medical Billing Explained
In medical billing, refunds occur when an overpayment is identified, either from an insurance company or a patient. The provider returns the excess amount to the appropriate party to correct the error.
For example, a provider issues a refund to an insurance company after receiving duplicate payments for the same claim.
Discover common acronyms and abbreviations in Medical billing glossary.
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