What information is documented in box 27 of the CMS-1500 form?

Box 27 of the CMS-1500 form is designated for the provider's acceptance of claim assignment. This box is used to indicate whether the provider agrees to accept the payment amount determined by the insurance company for the services rendered. By marking this box, the healthcare provider is effectively stating that they will accept the insurance payment as payment in full for the services provided to the patient. This is an important aspect of the claims process, as it impacts both how the claim is processed by the insurance company and the financial relationship between the provider and the patient.

The information in this box is crucial for the insurer to understand whether they are dealing with a contractual obligation where the provider agrees to certain terms for payment. This helps streamline the claims process and ensures that patients are not billed for amounts beyond what their insurance covers, provided the assignment is accepted.