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Coding tip: Make sure to refund credit balances
Ambulatory Surgery Reimbursement Update, March 27, 2007
Be sure to keep up to date with the credit balances your facility owes and to refund them in a timely manner.
It is extremely important to refund credit balances due to payers and patients in a timely manner-don't let them fall behind more than one quarter.
Medicare and other payers can fine your entity heavily for failure to refund credit balances in a timely manner. Make sure your entity has good methods for keeping up with these owing balances and has efficient procedures in place for keeping these refunds up to date.
This tip is brought to you by Ellis Medical Consulting, Inc.
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