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Since the inception of the Comprehensive Error Rate Testing Program (CERT), CMS has reduced improper payments from 9.8% in 2003 to 3.9% in 2007.
Private Enterprises
Businesses that are owned by private individuals or groups and not publicly traded on a stock exchange, often subject to different regulatory and reporting requirements than public companies.
Disclosed Basis of Accounting
The accounting principles and policies a company openly reports in its financial statements.
GAAP
Generally Accepted Accounting Principles, a common set of accounting principles, standards, and procedures that companies must follow when they compile their financial statements in the U.S.
Fair Value
The price at which an asset would be exchanged between knowledgeable, willing parties in an arm's length transaction.
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