EOBs, or explanation of benefits, are a key element of your practice’s client tracking. Not only do you have to keep them for a minimum of 7 years under Federal law after the last date of service to a patient (for Medicaid and veterans that length of stay is bumped up), but you also have to find your own way to keep them organized.
There are a few options when it comes to digital vs. paper EOBs that all depend on how your office works internally.
While EOBs aren’t technically required to be saved, they are often part of a patient’s file and fall under the timeline mentioned above. Digital EOBs and ERAs are easier to house because they don’t take up a lot of space in your office. (ERAs are a HIPAA compliant digital file that can replace EOBs.) Both are easily searchable, with the correct software, allowing you to filter through them quickly. For high-volume offices, digital EOBs can be extremely helpful when advocating for a client, efficiently communicating with insurance companies, and organizing.
Whether you use paper or digital claims there is a risk in keeping your records too long. Security breaches physically or digitally can put you at risk for HIPAA violations. Staying organized with your EOBs is crucial to running a strong practice.
Paper claims also hold a far larger risk of being damaged, stolen, or accidentally destroyed without a fail-safe measure. Physical copies can actually lead to data breaches as well. According to the Journal of the American Medical Association (JAMA), paper records account for up to 31% of security breaches.
Remote Lite has built-in measures to give you the best possible security for your claims. It also supports EOBs and ERAs included in the cost. Schedule a time to speak with our specialist today about how your offices EOBs and ERAs can fit with Remote Lite.