Steel Tool Company Makes and Sells Tools

question 54

Multiple Choice

Steel Tool Company makes and sells tools. One of the tools is believed to be haz?ardous. The appropriate government agency may require Steel to

• A) export the tool and sell it only abroad.
• B) increase the price to cover the cost of any injuries or damage.
• C) reduce the price to indicate the hazard to consumers.
• D) remove the tool from the market.

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Definitions:

Third-Party Reimbursement

A payment system where an outside entity (the third party), not the patient nor the healthcare provider, pays for healthcare services.

Claim Form

is a document filled out to request payment or compensation from insurance for healthcare services received.

Standard Claim Form

A predefined and universally accepted document used to file a claim with health insurance providers, detailing services rendered and corresponding costs.

CMS-1500

A standardized form used for submitting provider services for insurance billing in the United States.