Payments > Patient Billing

Co-insurance

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lbd122:
Do you have to collect the co-insurance amount that is listed on the EOB?  Is it the same as collecting co-pays?  That you could actually get in trouble for not collecting? 

Pay_My_Claims:
Yes you do as a contracted provider. You agree to the cost-sharing and coinsurance, deductibles, and copays are all part of that cost sharing.

Michele:
Copays are a set amount that the patient pays at the time of service.  Co-insurance is determined when the claim is processed and must be billed after payment is received and is usually a % of the allowed amount.

Michele

Pay_My_Claims:
I thought thats what they were saying since it was "on the EOB". It seemed to me that they were maybe adjusting it off or something.

Michele:
Sorry, it's a pet peave (spelling??) of mine.  Drives me crazy when someone calls coinsurance a copay.  I guess that's the perfectionist in me.

Michele

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