A Prior Authorization (PA) Is Also Considered a Cost Control

question 17

True/False

A Prior Authorization (PA) is also considered a cost control measure for the MCOs.

---

Definitions:

Compounded Daily

An interest calculation method where interest is added to the principal sum daily so that each day's interest earnings also earn interest in the future.

Nominal Interest Rate

The stated or named interest rate on a loan or investment, not accounting for inflation or compounding effects.

Compounded Monthly

Interest that is calculated and added to the account balance every month.

Periodic Interest Rate

The interest rate charged or paid over a specific period of time, often monthly, quarterly, or annually.