Medical Billing Forum
Payments => Patient Billing => : lbd122 July 07, 2009, 04:20:42 PM
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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?
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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.
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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
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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.
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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