Stop Treating Patient Credits Like Free Money
From The Dental Billing Podcast · 28:59
Show by Ericka Aguilar
Credit balances look harmless on a ledger, but they represent money we owe to patients or payers and they can turn into a major risk if we ignore them. We break down how to audit credits correctly, avoid accidental giveaways, and stay compliant with refund rules and unclaimed property laws.• Defining a credit balance as a liability rather than revenue • Separating the credit balance report from accounts receivable for a true picture of risk • Auditing one account step by step using the family ledger, the first negative transaction, and EOB comparisons • Why we never refund directly from the report without verifying the cause • The six common credit types and the correct action for each • Handling Medicaid and Medicare overpayments with urgency and documentation • Managing prepayments and deposits by linking them to treatment plans • Using due diligence letters, dormancy rules and state reporting for unclaimed property • Reducing audit risk and preventing practice sale delays with clean records • Building a monthly workflow, assigning ownership and tracking ageing and totals Share this one with your office manager and your CPA & always seek legal advice regarding your states laws regarding unclaimed property and credit management.Send us Fan Mail Support the showEnd of year billing department audit - click here!https://hygieneunlocked.com/Want to know how much treatment you have sitting on the books? Schedule a consultation with MaxAssist here:https://maxassist.com/thedentalbillingpodcast/Grab the FREE End of Year Revenue Push Playbook Here:https://link.captivationhub.com/widget/form/rHoSnbSvVMeFH4V2GFsfGet your Dental Billing Toolkit Here:https://www.dentalbillingdoneright.com/the-dental-billing-toolkitDownload "The Most Underused Codes in Dentistry - And How to Get Them Paid" checklist here:https://docs.google.com/forms/d/e/1FAIpQLSfxnnfSlNd0NPhMoBWq-1D_xU5R8LS4xPhHNKIjfLQwStOUag/viewform?usp=headerSchedule a billing chat with Ericka:https://calendly.com/ericka-dentalbillingdoneright/30minEmail Ericka:[email protected] Jen:jen@dentalbilli...
More episodes of The Dental Billing Podcast
More episodes
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- Your Revenue Is Unsupervised: 5 Ways Dental Practices Leak Money (Part 1)
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- Want to Find Extra $$ in Your Practice? Join The End of Year Revenue Push Challenge
- Billing Meets Bookkeeping: Why Your Numbers Never Match
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- Episode 1: The Dental Billing Podcast Preview Episode
- Episode 2: Dental Billing Meetings
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