When a Patient Signs an Assignment of Benefits,he or She

question 28

True/False

When a patient signs an assignment of benefits,he or she is authorizing the insurance carrier to send payment directly to the healthcare provider.

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Definitions:

Total Cost

The sum of all expenses incurred in the production of goods or services, including both fixed and variable costs.

Fixed Cost

A fixed cost is a business expense that remains constant regardless of the volume of goods or services produced by an entity.

Insurance Premiums

Payments made to an insurance company in exchange for coverage, protecting against financial losses from specified risks.

Production Workers

Employees involved in the direct manufacturing of goods, including assembly line workers, machine operators, and craftsmen.