Contractual Adjustments Are Discounts Arranged with Third-Party Payors That Frequently

question 40

True/False

Contractual adjustments are discounts arranged with third-party payors that frequently have agreements to reimburse at less-than-established rates.

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Definitions:

UCC

is the Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States.

Collateral

Property or assets that a borrower offers to a lender as security for a loan, which can be seized if the loan is not repaid according to the agreed terms.

Consumer Good

A tangible item produced for personal use or consumption by the general public.

UCC

The Uniform Commercial Code represents a detailed collection of statutes that oversee every commercial transaction across the United States.