Medical Billing Forum

Payments => Insurance Payments => Topic started by: macbook on August 20, 2012, 12:07:17 PM

Title: Time Frame on Keeping EOB's
Post by: macbook on August 20, 2012, 12:07:17 PM
Hello,

How long do you keep your EOB's? Is there a standard requirement for this? We just automatically upload it into our system and keep it there. Bu was wondering if there is a requirement so to speak.

Thank again for all your valuable replies.

Kind Regards.
Title: Re: Time Frame on Keeping EOB's
Post by: DMK on August 20, 2012, 12:24:57 PM
My understanding is 7 years minimum.  Some states require 10.
Title: Re: Time Frame on Keeping EOB's
Post by: Michele on August 20, 2012, 08:52:08 PM
It does vary from state to state so you need to check yours, but DMK is right.  The two I have seen is 7 and 10.
Title: Re: Time Frame on Keeping EOB's
Post by: DMK on August 21, 2012, 10:10:56 AM
Funny, I got our new Blue Shield contract and they stated in the contract that we have to keep records for 6 years for regular Blue Shield clients, and 10 years for the Medicare/Blue Shield clients.  Wow.....
Title: Re: Time Frame on Keeping EOB's
Post by: PMRNC on August 21, 2012, 11:11:14 AM
Yes there are contract record retention laws, contract and state law would supersede Federal.  Now let's say your state said 15 years, you would follow state guidelines since its longer.
Title: Re: Time Frame on Keeping EOB's
Post by: macbook on August 24, 2012, 07:39:12 PM
Thank you for all your replies.

I understand for medical records we do need to keep them for awhile.

But for EOB's too?

For Texas, which institution should we be asking. A colleague asked TMB the Texas medical Board. And they said no need to keep. Which is quite unusual. Because personally we do need to keep it for financial records right?

Thanks again for all your replies.
Title: Re: Time Frame on Keeping EOB's
Post by: PMRNC on August 25, 2012, 09:47:52 AM
EOB's are your "source documents" They follow the laws under "record retention"