What is payment posting in medical billing?

When an insurance company sends an Explanation of Benefits (EOB), the payment posting team verifies and posts the payment to the corresponding patient account.

Accurate payment posting is crucial. It helps in reconciling accounts, detecting underpayments, and preparing patient statements. Without it, the revenue cycle can get messy.

Payment posting in medical billing refers to the process of recording payments received from insurance companies or patients in the billing system. It ensures that each claim is updated with the correct payment information.

In simple terms: once a patient or insurer pays, the payment details are entered into the system. This step is called payment posting.