If Mr Corvervettes EOB says amount billed is $75.00, Allowed amount is $50.00, deduction is $0.00, coinsurance is $10.00, group recieved amount is $25.00, and provider paid $40.00. What would block #29 and #30 be on the CMS 1500.
Expert Solution Preview
Introduction:
As a medical professor responsible for creating assignments and guiding medical college students, I aim to provide comprehensive knowledge and insights into various aspects of the medical field. In this particular scenario, we are presented with an EOB (Explanation of Benefits) for Mr. Corvervettes, which includes key financial information. Based on this information, we will determine the values for block #29 and #30 on the CMS 1500 form.
Answer:
Block #29 on the CMS 1500 form refers to the total charges submitted by the provider. In this case, the amount billed by the provider is indicated as $75.00. Therefore, the value for block #29 on the CMS 1500 form would be $75.00.
Block #30 on the CMS 1500 form represents the balance due from the patient. To calculate this value, we need to subtract the allowed amount ($50.00) from the coinsurance amount ($10.00). The calculation would be: $10.00 (coinsurance) – $50.00 (allowed amount) = -$40.00.
Here, we have a negative value for the balance due, which means that the patient does not owe anything. Therefore, the value for block #30 on the CMS 1500 form would be $0.00.
Note: It is important for medical professionals to accurately complete the CMS 1500 form as it plays a crucial role in insurance claims processing and reimbursement.
