What is an Explanation of Benefits (EOB)?
An Explanation of Benefits (EOB) is a document provided by insurance payers that outlines how a claim was processed. It details the amount billed, adjustments made, payments covered by the payer, and the remaining patient responsibility.
Why is it important to enter EOBs into billing software?
Entering EOBs into the billing software ensures that claims are accurate and up-to-date. This process:
Reflects Payments and Adjustments: Tracks what the payer has covered, any write-offs, and outstanding balances.
Simplifies Patient Billing: Ensures patients are billed only for their true responsibility, reducing errors.
Improves Financial Accuracy: Keeps accounts receivable accurate, enabling better financial reporting and tracking.
How to Post EOBs in PatientStudio
1. Select Billing
2. Click "ERAs"
3. The first thing you should always do is search the check number to ensure that this EOB you're holding hasn't already come into the system as an ERA.
4. Click +Add EOB.
5. Search for the Payer
6. Enter a check number.
7. Add "Payment Date"
8. Select Payment Method
9. Enter the Check "Paid Amount"
10. Click Create
11. click 'Add Claims.'
12. Optionally, filter by patient name
13. Select applicable claims
14. Click "Add X Claims"
15. Click the carrot (v) to display charge details
16. enter the applicable adjustment, payment and patient responsibility amounts.
17. check your work by reviewing the collumn totals at the bottom of the box.
18. Click Post
19. Click the DOS to review the posted claim
