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).
Insurance Encyclopedia
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.
Accreditation Association for Ambulatory Health Care (AAAHC)
The Accreditation Association for Ambulatory Health Care, also known as the Accreditation Association or AAAHC , was formed in 1979 to assist ambulatory health care organizations improve the quality of care provided to patients. AAAHC is the leader in ambulatory health care accreditation and accredits more than 2500 organizations in a wide variety of ambulatory health care settings including ambulatory and office-based surgery centers, managed care organizations, and Indian and student health centers. With a single focus on the ambulatory care community, the Accreditation Association offers organizations a cost-effective, flexible, and collaborative approach to accreditation. The Accreditation Association’s mission is to maintain its position as the preeminent leader in developing standards to advance and promote patient safety, quality, value, and measurement of performance for ambulatory health care through peer-based accreditation processes, education, and research.
Accreditation cycle for M+C deeming
Duration of the Centers for Medicare and Medicaid Services’ (CMS) recognition of the validity of an accrediting organization’s determination that a Medicare+Choice organization (M+CO) is “fully accredited.”
Accreditation for deeming
Some states use the findings of private accreditation organizations, in part or in whole, to supplement or substitute for state oversight of some quality-related standards. This is referred to as “deemed compliance” with a standard.
Accreditation for participation
State requirement that managed care plans must be accredited to participate in the Medicaid managed care program.