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Payment Error Rate Measurement (PERM)

The measure of the improper payments of Medicaid and CHIP, which results in an error rate for each program. These rates are based on multiple factors; fee-for-service (FFS), managed care and eligibility sections of Medicaid and CHIP in the fiscal year under review.

Medicaid Drug Rebate

A rebate paid by participating pharmaceutical companies to Medicaid in exchange for coverage of their products.