Word of the day

Friday, June 20

Gainsharing

Healthcare providers that are able to reduce costs while still meeting quality standards are allowed to share in the savings.

Thursday, June 19

Exclusion

An item, treatment, or service not covered by an individual's insurance.

Wednesday, June 18

Board-certified

A title for physicians who have completed all preparatory work (medical school, residency, etc.) and have been approved to practice by a group of their peers.

Tuesday, June 17

Withhold

A portion of payments that an insurance company does not pay to health care providers unless that particular provider keeps costs under an agreed upon amount.

Monday, June 16

Medical IRA

A personal financial account that allows individuals to save money for health care services and offers a variety of tax benefits.

Friday, June 13

Disease Management

Health care programs designed to help patients manage their treatments.

Thursday, June 12

Fiscal Year (FY)

A period used for calculating annual financial statements in business and other organizations.

Wednesday, June 11

CHAMPUS

Civilian Health and Medical Program of the Uniformed Services - Health coverage for dependents of military personnel and retired military personnel.

Tuesday, June 10

Medicaid Drug Rebate

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

Monday, June 9

Gainsharing

Healthcare providers that are able to reduce costs while still meeting quality standards are allowed to share in the savings.

Generic Pharmaceuticals

Prescription drugs with the same chemical make-up as a drug that went through the full FDA approval process that are sold under a different name…