Attempting to meet all of a client’s insurance needs rather than meeting only a portion of those needs.
Insurance Encyclopedia
accountable health plan (AHP)
A managed competition component that serves as both a provider and an insurer (payer) of health care services. AHPs compete with one another to provide the most cost-effective benefits package while also providing the highest quality of care. AHPs have preventive programmes and place an emphasis on wellness. These health plans are owned, operated, or contracted with by providers.
Also called Accountable health partnership (AHP), integrated delivery system (IDS), integrated health system (IHS), integrated health delivery system (IHDS), community accountable healthcare network (CAHN), integrated service networks (ISN), health purchasing alliance (HPA), community care network (CCN), and organised delivery systems.
Accountants clause
A clause in a business interruption policy which indemnifies the insured in respect of the cost of an accountant’s fee in respect of preparing and submitting the claim.
The insured is responsible for the cost in the absence of the clause.
Accounting Classes
A category of insurance business used for the purpose of statutory returns, for which separate figures must be provided at specific points in the regulatory return submitted to the Financial Services Authority. Some accounting classes consolidate several general business classes, while others represent subdivisions of one or more classes.
Accounts and Statements Rules
The requirements for making returns to the Financial Services Authority, this is commonly referred to as the regulatory return, can be found in the Interim Prudential Sourcebook for Insurers.
(see also Integrated Prudential Sourcebook).
Accounts receivable (A/R) transaction
Miscellaneous Medi-Cal accounting transactions as a result of cost settlements, state audits or refund checks received by the fiscal intermediary.
Accounts receivable (AR)
1. The total amount of money owed by patients to a business for professional services rendered by a provider or medical group.
2. The Money owed to a hospital facility from patients, insurance companies, managed care plans, and government programs.
Also See “day sheet”.
Accounts receivable coverage
The cost of reconstructing accounts receivable documents that have been damaged or destroyed by a covered peril is covered. Furthermore, it encompasses any payments that are unable to be collected due to the inability to reconstruct records.
Accounts Receivable Insurance
Accounts receivable insurance protects a business from losses arising due to an inability to collect outstanding receivables caused by the direct loss, damage, or destruction of accounting records by an insured peril. Coverage typically includes reimbursement for receivables that become uncollectible because the records cannot be reconstructed, as well as any extra expenses incurred to recover or reconstruct these records. It also commonly covers interest payments on loans necessary to bridge the period during which collections are reduced. For instance, if a fire destroys an automotive repair shop’s invoices and customers refuse to pay because records can’t be reconstructed, accounts receivable insurance covers these losses. Keeping duplicate records safely stored off-premises is a highly recommended practice, significantly reducing coverage costs. Additionally, insurance can be arranged to protect both electronic and paper records.
Accreditation
United Kingdom:
Procedure for enrolling an applicant as a Lloyd’s broker. Reaccreditation transpires following a three-year period. Before submitting an application to Lloyd’s, a UK applicant must receive authorisation from the FSA. The updated accreditation program permits foreign brokers to attain Lloyd’s broker status without the necessity of a UK-registered firm. International candidates must prove compliance with FSA-equivalent standards on the segregation of insurance funds, solvency, and professional indemnity insurance. There exist stipulations for reporting, oversight, grievance resolution, training and proficiency, as well as standards of conduct, all of which may consider regional stipulations.
United States, Healthcare:
1. Endorsement; an assessment procedure by which a curriculum or educational establishment is acknowledged by an outside organization for fulfilling specific established criteria. Accreditation can be either enduring or granted for a designated duration.
2. In reference to hospitals, it signifies that an institution adheres to specific quality benchmarks. These benchmarks are established by private, nationally acknowledged organisations that evaluate the quality of care (personnel and apparatus) in healthcare institutions typically every three years. Accreditation may be conferred by two entities: The Joint Commission (formerly referred to as the Joint Commission on Accreditation of Health Care Organisations [JCAHO]) and the American Osteopathic Association (AOA). Government entities at both the state and federal levels may acknowledge accreditation as a substitute for, or foundation of, licensure or other compulsory endorsements.
Also see certification.