Answer the following statements true (T) or false (F)

1. Participating providers can demand payment in full from the patient rather than waiting for the insurance carrier to process the claim.

2. The benefit payment information on an EOB indicates who was paid, how much, and when.
3. State and federal regulations determine how long patient records must be kept and stored.
4. A lockbox service provided by a bank helps control receivables by collecting and depositing carrier and patient payments faster than if the process were performed by office staff.
5. Electronic funds transfer (EFT) is more costly to the practice than depositing checks.
6. Reason and remark codes are explained on the face or back of the EOB/ERA.


1. FALSE
2. TRUE
3. TRUE
4. TRUE
5. FALSE
6. TRUE

Health Professions

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