Define the Three Common Business Forms

question 26

Essay

Define the three common business forms.

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Definitions:

Taxonomy Code

A unique identifier for healthcare providers used primarily for billing and administrative purposes.

Medical Specialty

A branch of medical practice focused on a specific group of patients, diseases, skills, or philosophy, such as cardiology or dermatology.

Third-party Payer

An entity (other than the patient or healthcare provider) that pays for healthcare services, typically an insurance company.

Recovery Audit

The process of reviewing financial transactions and records to ensure compliance with policies and to recover overpayments or incorrect charges.