by Lori | Apr 19, 2010 | Medicare payment basics
Write Off: This is an amount that the provider has to remove from his books. There are two types of write off: One is contractual write off and the other one is adjustments. Contractual write off are those wherein the excess of billed amount over the carrier’s allowed...
by Lori | Apr 19, 2010 | Medicare payment basics
What is Deductible: This is an amount that the patient owes the carrier every year apart from the premium. The patient has to pay this amount before insurance started to pay. A fixed dollar amount during the benefit period – usually a year – that an...
by Lori | Apr 19, 2010 | Medicare payment basics
Co-Insurance: This is a part of the allowed amount, which the carrier has determined that the supplementary insurance or the patient is responsible to pay. This will be mentioned clearly in the EOB and should be billed to the secondary carrier or to the patient. You...
by Lori | Apr 19, 2010 | Medicare payment basics
What is fee amount and allowed amount A fee is the price a healthcare provider charges for a product or service. This is similar to each product like electronic item comes with price. Each practice calculates the fee based on the Medicare allowed amount for that...
by Lori | Apr 19, 2010 | Medicare payment basics
Explanation of Benefits Explanation of Benefits or EOB is the detailed statement of the carrier’s determination of the claims processed. The determination can result in a payment or a denial. The Explanation of Benefits contains the following information: Name of the...
