Any comments are wellcome.
However, my impression of the use of the term is in the context of a drug that has approx equal renal and non-renal clearance. To the marketing pharmacokineticist this seems to mean that the liver is balancing drug elimination and protecting the patient from decreased renal clearance. I have not heard the term balanced clearance during the last 20 years or so of reading PK literature. It may be instructive to think for example in relativistic terms of mass balance between precursor and product, in determining whether clearance is balanced with respect to a particular chemical entity. A simple hypothetical could involve a pro-drug to active drug conversion.