CLAIM Definition

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CLAIM, in health care, is an itemized statement of healthcare services and their costs provided by a hospital, physicians office, or other provider facility. Claims are submitted to the insurer or managed care plan by either the plan member or the provider for payment of the costs incurred. In general law, a claim is: 1) to make a demand for money, for property, or for enforcement of a right provided by law. 2) the making of a demand (asserting a claim) for money due, for property, from damages or for enforcement of a right. If such a demand is not honored, it may result in a lawsuit. In order to enforce a right against a government agency (ranging for damages from a negligent bus driver to a shortage in payroll) a claim must be filed first. If rejected or ignored by the government, a lawsuit may be filed.

Learn new Accounting Terms

VC is Venture Capital(ist) or Variable Cost. See also VENTURE CAPITAL, VENTURE CAPITALIST or VARIABLE COSTS.

PRIVATE PLACEMENT is investments in companies that are privately owned; i.e, they are companies that are not traded on a public stock exchange (e.g., NYSE, NASDAQ, and AMEX).

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