Managed Care Has Changed Decision-Making Practices Regarding Coverage to Focus

question 62

Short Answer

Managed care has changed decision-making practices regarding coverage to focus on __________ decisions, and although this type of coverage determination used to be the exception, it is now the rule.

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Definitions:

Monthly Payments

Regular payments made once a month, commonly in the context of loans, rent, or other agreements.

Present Value

The present value is the current worth of a future sum of money or stream of cash flows given a specified rate of return.

Annuity

A financial instrument providing a steady series of payments to a person, mainly utilized as a source of income for people in retirement.

Compounded Monthly

The method of calculating interest where the interest earned is added to the principal at the end of each month, leading to interest on interest in subsequent months.