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Insurance

Insurance is a promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer. In exchange for payments from the insured (called premiums), the insurer agrees to pay the policy holder a sum of money upon the occurrence of a specific event. In most cases, the policy holder pays part of the loss (called the deductible), and the insurer pays the rest. Examples include car insurance, health insurance, disability insurance, life insurance, and business insurance.

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Insurance > Health insurance

occupancy rate

Health care; Managed care

A measure of the usage of the licensed beds during the reporting period that is derived by dividing the patient days in the reporting period by the licensed bed days in the ...

PPS inpatient margin

Health care; Managed care

A measure that compares PPS operating and capital payments with Medicare-allowable inpatient operating and capital costs. It is calculated by subtracting total Medicare-allowable ...

PPS operating margin

Health care; Managed care

A measure that compares PPS operating payments with Medicare-allowable inpatient operating costs. This measure excludes Medicare costs and payments for capital, direct medical ...

total margin

Health care; Managed care

A measure that compares total hospital revenue and expenses for inpatient, outpatient, and nonpatient care activities. Calculated by subtracting total expenses from total revenue ...

health indicator

Health care; Managed care

A measure that reflects, or indicates, the state of health of persons in a defined population (e.g., the infant mortality rate).

hospital days per 1,000

Health care; Managed care

A measurement of the number of days of hospital care HMO members use in a year. It is calculated as follows: Total number of days spent in a hospital by members divided by total ...

cost of risk (COR)

Health care; Managed care

A measurement of the total costs associated with providing health or managed medical care insurance, for the payer or underwriter.