Explanation of Benefits in Medical Billing
An Explanation of Benefits (EOB) is a statement from the insurance company explaining what medical services were covered, what was paid, and what the patient owes.
Explanation of Benefits in Medical Billing Explained
The EOB is crucial for patients and providers to understand how a claim was processed. It shows the total amount billed, the insurance company’s payment, any adjustments, and the patient’s remaining responsibility, such as co-pays or deductibles.
For example, after a doctor’s visit, the patient receives an EOB detailing the costs covered by insurance and what portion they need to pay.
Check acronyms and abbreviations in Medical billing glossary.
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