Friday, October 17
Profit and Loss (P&L)
The revenues, costs and expenses incurred during a specific period of time, usually a fiscal quarter or year.
Thursday, October 16
Automatic Enrollment
Provision of the ACA requiring organizations with more than 200 full time employees to enroll all new full-time employees in a health plan.
Wednesday, October 15
Premium Subsidies
A fixed percentage of the premium cost that helps individuals purchase health coverage on the new health insurance exchanges.
Tuesday, October 14
General Practice
Also known as primary care providers or family doctors, these doctors do not have specialist training and offer a wide range of basic health care services.
Thursday, October 9
Individual Mandate
Refers to a requirement in the Affordable Care Act that all individuals obtain health insurance.
Wednesday, October 8
Accountable Care Organization (ACO)
A group of healthcare providers that come together to provide the full range of healthcare services for patients. The provider organization is responsible for the quality and price of the care and receives payment for all care that is provided to patients. Organizations are given financial incentives, such as allocated savings attained from these efforts, in order to promote the improvement the quality and price through the Medicare program.
Tuesday, October 7
All-payer System
A type of health care system in which everyone - government, insurance company, or individual - pays the same amount for the same services, also known as Multiple Payer Systems. It should be noted that this does not reflect current U.S. health care policy.