A Physician's Fee Profile Is Used in Determining the Amount

question 59

True/False

A physician's fee profile is used in determining the amount of third-party liability for services under the contracted program.

Comprehend the characteristics of monopsony in the labor market.

Distinguish between the labor supply curves facing a purely competitive employer and a monopsonist.

Recognize how firms determine the level of employment and wage rates in competitive vs. monopsonistic markets.

Analyze the impact of marginal product and marginal wage cost on employment decisions.

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Definitions:

Pegboard

A manual bookkeeping system that uses a lightweight board with pegs on the left side and often on the top and right side too. Components of the pegboard system include a physician’s day sheet, transactions slip, patient ledger card, and deposit slip.

Claims Scrubbing

The process of reviewing insurance claims for errors or inconsistencies prior to submission to ensure they comply with payer requirements.

Visit Capture

The process of documenting and recording details of a patient's visit to a healthcare facility.

Balancing

Involves maintaining equilibrium or steadying forces so that they are equal or in proper proportion.