Any of Several Reimbursement Methods That Pay an Amount Predetermined

question 15

Short Answer

Any of several reimbursement methods that pay an amount predetermined by the payer, based of the diagnosis, procedures, and other factors (depending on setting) rather than actual, current resources expended by the provider, is called ________.

---

Definitions:

Elasticity of Demand

A measure of how responsive the quantity demanded is to a change in price, indicating how a product's demand will fluctuate with pricing changes.

Marginal Rate

Often refers to the incremental increase in cost or benefit associated with a one-unit change in an economic activity.

Substitution

The economic principle where consumers replace more expensive items with less costly alternatives, or when firms swap higher-priced inputs with cheaper resources.

Income Effect

The change in consumption resulting from a change in real income.