Resource-Based Relative Value Scales (RBRVS) Are Used to Set Fee

question 24

True/False

Resource-based relative value scales (RBRVS) are used to set fee schedules for procedures in outpatient settings.

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Definitions:

Rival

in the context of goods, refers to a type of good for which one person's use diminishes others' ability to use it.

Club Goods

Goods that are excludable but not rival in consumption

Private Goods

Products or services that are consumed by one individual and cannot be used simultaneously by others.

Rival in Consumption

A characteristic of a good whereby its consumption by one individual prevents simultaneous consumption by another individual.