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Fee-for-Service

A method of paying for health or medical services. Doctors and hospitals are paid for each individual service they provide to the patient. Bills can be paid in two different ways; paid by the patient who submits the claims to the insurance company or the provider can submit for reimbursement to the patient's insurance carrier.

Market Power

The size of one firm relative to its competitors in a given market. Certain insurers or health systems have greater market power which enhances their…