Can we make a better EOB?

If you’ve seen a doctor or been to a hospital recently, you’ll most likely have received what is called an EOB in the mail. EOB is short for “Explanation Of Benefits”. Every insurance company has a different EOB and many of them are difficult to understand.

Here’s an example of a typical EOB:

EOB_Original

Why do insurance companies send out these EOBs? An EOB is the statement insurance companies send you after your doctor sends them a bill. It tells you what the claim was for, what was covered, what you owe and why. But it’s not the actual bill.

Once you understand the purpose of an EOB, you’ll need to understand what it’s trying to tell you. This should be simple, but in today’s challenging world of healthcare pricing this can involve complicated math and unfamiliar terms. This is why Obeo Health created an EOB decoder, which provides consumers with an easy to understand breakdown of medical charges and how your benefits apply to those charges.

We start with a simple summary that includes the three most important numbers: what you were charged, what did your insurance cover, and what is your responsibility. Our tool then walks through the steps of how and why these dollar amounts were calculated, in language that is simple and easy to understand.

Finally, if there are any complicated calculations, Obeo lines up all of the charges so that you can easily understand how your total responsibilities were determined.

Here is an example of a visit to an ‘In-Network’ emergency room:

EOB_Blog

In a world where consumers are increasingly responsible for understanding the costs involved in their healthcare, Obeo Health is providing the tools necessary to make this information accessible and easy to understand.

Contact us to learn more about how Obeo Health can help your organization increase employee engagement in healthcare decisions and lower costs for everyone.