What does an outstanding balance reflect in Epic Resolute Professional Billing?

What does an outstanding balance reflect in Epic Resolute Professional Billing?

• A. The financial responsibility remaining for the patient
• B. The total revenue generated within a billing cycle
• C. The amount that has been waived or adjusted
• D. The total claims submitted for the month

Answer: (A)

An outstanding balance in Epic Resolute Professional Billing specifically refers to the financial responsibility that remains for the patient after all transactions have been accounted for. This balance includes any amounts that the patient owes that have not yet been paid, such as deductibles, copayments, or any remaining charges after insurance payments and adjustments. This measure is crucial for tracking the patient’s financial accountability and aids in revenue cycle management. By understanding what an outstanding balance reflects, practices can effectively communicate with patients regarding their financial obligations and follow up on unpaid balances. The other choices do not accurately represent the concept of an outstanding balance, as they pertain to broader financial metrics or specific adjustments rather than focusing on the patient’s remaining financial responsibility.

An outstanding balance in Epic Resolute Professional Billing specifically refers to the financial responsibility that remains for the patient after all transactions have been accounted for. This balance includes any amounts that the patient owes that have not yet been paid, such as deductibles, copayments, or any remaining charges after insurance payments and adjustments.

This measure is crucial for tracking the patient’s financial accountability and aids in revenue cycle management. By understanding what an outstanding balance reflects, practices can effectively communicate with patients regarding their financial obligations and follow up on unpaid balances.

The other choices do not accurately represent the concept of an outstanding balance, as they pertain to broader financial metrics or specific adjustments rather than focusing on the patient’s remaining financial responsibility.