#1
What does the term 'co-payment' refer to in healthcare billing?
A fixed amount paid by the patient for a covered service
ExplanationPatient's fixed contribution for a covered service.
#2
In healthcare billing, what is the purpose of a 'deductible'?
The amount the insured individual must pay before the insurance coverage kicks in
ExplanationAmount paid by the insured before coverage starts.
#3
What does 'U&C' stand for in the context of healthcare billing?
Usual and Customary
ExplanationStandard charges for services.
#4
What does 'COINS' stand for in the context of health insurance?
Coinsurance
ExplanationShared cost between insurer and insured.
#5
What is the role of a 'claim' in the healthcare billing process?
To submit a request for payment to the insurance company
ExplanationRequest for payment submitted to insurance.
#6
What does 'EOB' stand for in healthcare billing and insurance?
Explanation of Benefits
ExplanationSummary of services and payments.
#7
What does 'CMS-1500' refer to in healthcare billing?
A form used for submitting paper claims by healthcare professionals
ExplanationForm for paper claims by professionals.
#8
What is the purpose of a 'precertification' in the context of healthcare insurance?
To obtain approval from the insurance company before certain medical procedures
ExplanationApproval required prior to certain procedures.
#9
What is the 'birthday rule' in health insurance?
A rule that prioritizes the insurance coverage of the policyholder with the earliest birthdate in a family
ExplanationPrioritizes coverage based on birthdate.
#10
In the context of healthcare billing, what is 'bundled payment'?
A single payment that covers multiple healthcare services or procedures
ExplanationOne payment for multiple services/procedures.
#11
What is the purpose of 'ICD-10 codes' in healthcare billing?
To describe medical diagnoses and procedures
ExplanationCodes for diagnoses and procedures.
#12
In healthcare billing, what is a 'write-off'?
A deduction in the amount charged by a healthcare provider that the insurance company won't pay
ExplanationAmount not paid by insurance, waived.
#13
What is the primary function of a 'benefit period' in health insurance?
To define the duration during which specific benefits are available
ExplanationPeriod of availability for specific benefits.
#14
What is 'subrogation' in the context of healthcare insurance claims?
The process of one party, such as an insurance company, stepping into the shoes of another party for reimbursement
ExplanationInsurance company steps in for reimbursement.
#15
What is the purpose of a 'coordination of benefits' (COB) provision in health insurance?
To coordinate the benefits provided by multiple insurance policies when an individual is covered by more than one plan
ExplanationManaging benefits from multiple policies.
#16
What is a 'Medigap' policy in health insurance?
A supplemental insurance policy that helps fill gaps in coverage for expenses like copayments and deductibles
ExplanationSupplements coverage gaps.