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Best Practice For Hospital Credit Balance Resolutions

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The experience acquired from working with clients indicates that an average hospital revenue cycle management  employee takes a minimum of 15 minutes to research and resolve just one credit balance account using the conventional methods. That adds up to just 32 accounts per day (having a duration of 8 hours) or only 160 accounts per week. A medium-sized hospital’s patient accounting system creates at least thousands of credit balances per month. With a team member resolving as little as 32 accounts per day, it becomes difficult to resolve the daily churn of new credit balances. Credit balance management is an overlooked aspect of every revenue cycle, in spite of the potential risks associated with neglect, including missed payment opportunities and the penalties associated with the regulatory and managed care requirements that are not met. To enable the streamlining of the credit balance resolution process and to make efficient use of valuable staff time, organizations should con