What notice is sent by the insurance company to a provider that contains payment information about a claim?

The remittance advice is the document sent by the insurance company to a provider that contains detailed information regarding the payment of a claim. This notice outlines the amount billed by the provider, the amount that the insurance company has approved for payment, any adjustments made to the claim, and the reasons for those adjustments. It serves as an important communication tool between healthcare providers and insurance companies, helping providers understand how a claim has been processed and what payments, if any, will be made.

This is distinct from other options, as a claims submission refers to the initial process of sending a claim to an insurer, while an Explanation of Benefits (EOB) is a communication typically sent to the insured patient, explaining how a claim was handled and what is covered. A CMS update refers to changes in guidelines or policies set by the Centers for Medicare & Medicaid Services and does not pertain directly to individual claim payment information.