Medical Bill Organizer
We have put together a useful Excel spreadsheet to help you manage your billing. This tool will help you track your bills and monitor your insurance payments throughout the hospital billing process.
The following is a list of steps to follow when organizing your medical bills.
- Separate bills by the name of the service provider.
- For each provider – organize statement chronologically with oldest on bottom.
- Next, sort the EOMB's (explanation of medical benefits) by provider and organize chronologically with oldest on bottom.
- If you have supplemental insurance, repeat the process in Step 3.
Now you are ready to match the provider statement with the insurance payment statements (explanation of benefits forms)
Take the provider bill and look for the service date and the amount of the charge. Next, look at the stack of (EOB's) payment statements, and then the supplemental EOB's. Place the provider bill on top, the Insurance payment statement next, then the supplemental explanation of benefits last if applicable. Repeat this process for all bills. Place any duplicates in a separate stack to be disposed of later.
Organizing hospital, physician and other medical bills
After a hospital stay or a visit to your doctor, you may receive many different documents. It is very important to keep these medical bills, payment statements, receipts, prescription information, and claim forms together and in order.
Here are some basic tips that will help you organize this important information.
Always ask whether a Provider (Hospital, Physician, Home care service, etc.) will bill all of your insurance plans directly on your behalf, also, if they accept Medicare assignment.
Even if they agree to bill your insurances, you will regularly receive bills, statements, and explanation of benefits (EOMB) forms (response of the insurance company)
If the provider will not bill your insurance, you will then be required to submit the bill yourself, or have someone assist you in filing with your insurance company.
Obtain a large accordion folder with several pockets in which to keep all of your paperwork. Several plain folders will also work. You will need to label the pockets or folder with:
- Provider of service (separate pocket for each)
- Insurance forms
Read each bill or statement carefully. Review the information. Look for:
- The name of the provider
- The address of the provider
- The account number
- The date of and charge for service
- The description of service
- Your name and, Medicare and/or insurance information
- The phone number to call with questions
Noting the date you received the service and the total amount of the charge will help you in sorting and organizing the documents related to each provider.
Look for the explanation of benefits (EOMB) form first. This will state whether a charge was paid, denied, or if additional information is needed. If there is nothing for you to do, then file the form in the folder or divider assigned to that insurance plan.
If Insurance has paid on the claim, then the supplemental insurance can be billed if applicable. If the service provider is handling this for you, then simply file the Insurance payment form in the correct provider folder or divider.
However, if you must file with your supplemental insurance, then make a photocopy of the explanation of benefits (EOMB) form and the provider bill. Print, on the copies, your supplemental identification number, then mail both, the explanation form and the itemized bill, if required, to the insurance company.
* Please note, some insurance companies require their own claim form also be included. If you have one of these companies, follow their procedure.
As each provider bill is paid by your insurance, until there is no remaining balance, mark the bill as paid. File together the provider statement, the explanation of benefits (EOMB) form, and other insurance benefit forms, in the proper folder or divider.
To keep track of all the payments, make a record of the information on a sheet of paper for easy review. Make a list of the following:
- Provider of service
- Account number
- Date of service
- Total charge for service
- Amount paid by Medicare
- Amount paid by insurance
- Payment you may have made
- Current balance
Make sure you understand the bill. If you have any questions, call the number on the statement for clarification.