How Much Would Be Owed by the Patient on a $3,000

question 12

Short Answer

How much would be owed by the patient on a $3,000 bill if a PPO uses a discount on charge arrangement wherein the percentage paid to the provider is 70 percent and the patient's co-pay,as specified by the PPO,is 20 percent?
(a)$600
(b)$700
(c)$420
(d)$200

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Definitions:

Joint Tenancy

A form of property co-ownership that provides equal shares and rights to the property, with the right of survivorship upon a tenant's death.

Ownership

The legal right to possess, use, control, and dispose of an asset or property.

General Warranty Deed

A legal document that guarantees a property's title is free from defects, and the seller has the right to sell it.

Easement

A legal right to use another's land for a specific limited purpose, like right of way or utility installation, without owning it.