Process of Auditing Claim Forms

Process of Auditing Claim Forms Institution Affiliation Name Date Process of Auditing Claim Forms A claim form is a document used to make a formal request to an insurance company for coverage or compensation for a covered loss or policy event. It is from this formal request that an insurance company validates a claim for compensation and once it approves it, it issues the payment to the insured or an approved beneficiary on behalf of the insured (Thomas & Ilhm,2016).CMS-500 is a Medical Insurance Claim Form. It is used by physicians and suppliers for claim billing.UB-04 on the other hand are a claim form used by hospitals, nursing facilities, in-patient to bill Medicare Administrative Contractors (MACs) when a paper claim is allowed. To audit a CMS-1500 form the insurance company needs the insured person’s the provider’s name, phone number, office address, NPI number and social security/tax number. The company will then promp...