Medical Practice Management
Jun 04

Inability to find patients so refund checks can be sent

Question: We are trying to refund monies to some of these patients but are unable to locate them, and/or they are deceased. How do you handle patient refunds that cannot be effectuated because of an inability to locate patient, or patient is deceased?

Answer: You need to check the escheat property laws in your state.  These balances most likely need to be turned over to the state as unclaimed property. 

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →