CONTRACTUAL ALLOWANCE Definition

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CONTRACTUAL ALLOWANCE, in healthcare, is the difference between what hospitals bill and what they receive in payment from third party payers, most commonly government programs; also known as contractual adjustment.

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GRANDFATHERED INVESTMENTS are Municipal bonds and equities acquired on or before August 7,1986, the effec­tive date of changes in tax rates caused by the Tax Reform Act of 1986. These investments are not subject to the 5.1 % property-casualty insurance company proration tax.

INSIDE MARKET is the highest bid and the lowest ask (offer) prices among all Market Makers competing in a NASDAQ security; the best bid and ask prices for a security

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