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Processing EOB: Applying Interest from Payer

Learn how to post interest paid by an insurance payer so your patient ledger and EOB balance correctly.

📝 Overview

Sometimes an insurance payer includes interest when a claim is paid late. Interest isn’t tied to a CPT-coded service, so it needs a place to land when you post the EOB. This article walks through two ways to handle it in ChiroHD: a dedicated Interest service (recommended) and adding the interest to an existing line item.

Option 1: Create and Use an Interest Service

  1. Set Up the Service
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    • You only need to do this once. Every future interest payment can reuse the same service.
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      1. Navigate to Settings, System Settings, Services and create a new service.

      2. Name the service Interest or Interest Fee.

      3. Set the default charge to $0.00.

      4. Set Enforce Price for Billing to False.

      5. Leave the CPT Code field blank. Interest doesn’t need a CPT code.

      6. Save the service.
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  2. Add to Patient Ledger

    • Add the "Interest" service to the patient's ledger.
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      1. Open the patient’s chart and click New Transaction.

      2. Add the Interest service. Enter the amount received as interest in the service's charge field.
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  3. Create Claim bypassing Greensheet

    • "Ghost Bill" the claim so it shows up on the EOB posting screen but bypasses the greensheet error (no cpt code).
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      1. Go to the patient’s Insurance History tab, next to Ledger.

      2. On the Interest line, select Create Claim, then click Save.
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        ​NOTE: Select Create Claim on the Interest line only. New Bill with All applies to every eligible line in the list, not just the interest. For further questions about the Create Claim process please see our resources on when to use the Create Claim button.

  4. Post the Interest Payment via the EOB Posting Screen:

    • The "Interest" service will appear on the EOB posting screen.

    • Post the interest amount paid on the line item. The charge and payment amounts should balance out.

Benefits of This Approach:

  • Allows for clear tracking of interest payments.

  • Keeps interest payments separate from standard service charges for better financial transparency.

Option 2: Add Interest to an Existing Line Item

  1. Combine Payment Amounts:

    • Include the interest amount in the payment field of the related service on the EOB posting screen.
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    Example:

    • If the insurance pays $20 for an adjustment code and $5 as interest, enter a total payment of $25 for the adjustment code.

Considerations for This Approach:

  • This method integrates interest into the existing service charge, which might make tracking interest payments less distinct.

✅ Key Takeaways

  • Option 1 (a dedicated Interest service) is the recommended approach because it keeps interest separate and easy to track.

  • The Interest service needs a $0.00 default charge, Enforce Price for Billing set to False, and no CPT code.

  • Ghost bill the claim on the Interest line only so it appears on the EOB posting screen.

  • Option 2 works, but it folds the interest into the service payment, which makes it harder to track.

📌 Conclusion

Whether you create a dedicated Interest service or add interest to an existing line, you can now post payer interest and keep your EOB and ledger balanced. Choose the option that best fits how your office wants to track and report interest.

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