ECONOMICALLY FEASIBLE Definition

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ECONOMICALLY FEASIBLE means that the benefit of tracing the cost (greater accuracy) outweighs the cost of doing so.

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COST PER OUTCOME links the unit-level economics of an operation with the impact that the organization wishes to have. For example, a nonprofit that delivers meals to the elderly might measure its impact by the number of meals served. To arrive at its cost per outcome, therefore, it would divide the full cost of its meals program by the number of meals it serves.

INSURANCE CLAIM is a written notification to an insurance company requesting payment of an amount due under the terms of the policy.

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