If an Insurance Plan Considers the Planned Care to Be

question 7

Multiple Choice

If an insurance plan considers the planned care to be a non-covered benefit, the patient is to sign an ABN _______.

• A) upon receiving the denial from the carrier
• B) prior to receiving the treatment
• C) when they come back for follow-up
• D) after receiving treatment

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Definitions:

Capital Equipment

Long-term assets acquired or used by a business for the production of goods and services, such as machinery, buildings, and vehicles.

Market Price

The current price at which an asset or service can be bought or sold in a given market, determined by supply and demand.

Equilibrium Quantity

The amount of a good or service that is supplied and demanded at the equilibrium market price.

Marginal Product

The additional output resulting from the use of one more unit of a factor of production.