What is a "patient ledger" in the context of medical billing?

A "patient ledger" is fundamentally the financial document that meticulously records all financial transactions related to an individual patient, including charges for services rendered, payments made, and any outstanding balances. This comprehensive record is crucial for both the healthcare provider and the patient, allowing for transparent tracking of an individual's financial responsibilities regarding their healthcare.

The patient ledger serves as a central point for managing a patient's account, helping to ensure accurate billing and efficient follow-up on any outstanding payments. This makes it an essential tool for medical billing specialists as they navigate billing processes and resolve any discrepancies that may arise.

Within the scope of medical billing, tracking financial transactions closely is critical for maintaining clear communication with patients about their charges and payment history, ensuring proper accounting, and minimizing billing errors.