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What is the EOB in a claim?

An explanation of benefits is a document that explains how your insurance processed the claim for the services you received. It breaks down the information like this: The services we provided. What the doctor or hospital charged (all charges)

Who prepares EOB in medical billing?

The insurance company sends a provider the EOB, also known as the Explanation of Benefits, Explanation of Payment (EOP), or Remittance Advice (RA), after a claim has been decided.

Who is the payee on an EOB?

Payee is the person who will receive any reimbursement for over-paying the claim. 6.

Who provides the explanation of benefits?

An EOB is a statement from your health insurance plan describing what costs it will cover for medical care or products youve received. The EOB is generated when your provider submits a claim for the services you received. The insurance company sends you EOBs to help make clear: The cost of the care you received.

What is EOB in medical coding?

In medical billing, the term EOB stands for Explanation of Benefitsa statement that is usually generated to give an insight into the medical benefits covered by the patients insurance payer.

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