In Contract Management, If a Plan or Provider Underestimates the Utilization

question 20

True/False

In contract management, if a plan or provider underestimates the utilization for the population they are serving, the outcome will be a negative one in that the utilization will be higher than projected, and the plan or provider loses money.

Analyze specific situations for not-for-profit organizations and recommend appropriate accounting treatments.

Prepare financial statements or partial statements capturing transactions for not-for-profit organizations.

Understand the basic steps and elements involved in the email communication process.

Identify and understand the use of digital platforms for collaboration and remote work.

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Definitions:

Comprehensive Insurance

A type of insurance that covers the repair or replacement of parts of an insured car damaged by vandalism, fire, flood, wind, earthquakes, missiles, falling objects, riots, tree sprays, and other disasters; it also covers if the car is stolen.

Collision Insurance

A type of insurance that pays for the repair or replacement of an insured car if it is damaged in a collision with another vehicle or object, or if it overturns, no matter who is at fault. This type of insurance is usually required if there is a loan on the car.

Deductible

Part of the repair or damages that a driver has to pay before the insurance company pays.

Drag Factor

A coefficient used in physics and engineering to quantify the resistance of an object moving through a fluid or air.