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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QUALITY CIRCLE is a volunteer group composed of workers, sometimes students, with the stated goal to improve processes or product quality through analyses leading to process or design changes that reduce costs or enhance quality of the finished product.

OFFER PRICE see ASK PRICE.

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