Generally the first page of an insurance policy that includes the name and age of the insured, name of the policy owner (if different from the insured), amount of premium, policy number, date of issuance of policy, and signatures of the insurance company officials.
Insurance Encyclopedia
Face sheet
First part of a patient’s hospital health record that contains the patient’s identification, demographics, date of admission, insurance coverage or payment source, referral data, hospital stay dates, attending physician information, discharge information, name of responsible party, emergency contact, and patient’s diagnoses.
Face value
See: face amount .
Face-to-face time
Documented minutes and hours spent face to face with a patient or a patient’s family in an office or outpatient place of service. It is a component of evaluation and management codes.
FACI
The Federal Advisory Committee on Insurance provides advice and recommendations to assist FIO in carrying out its statutory authority.
Facility
REINSURANCE: (i) Organization established by Insurers and Reinsurers, whereby Insurers can obtain Reinsurances for exposures that individual Reinsurers would not readily accept hence, a “residual market” organization for Reinsurance. Reinsurers participating in the Reinsurance association typically take pro-rata shares of all Reinsurance placed in the facility. (ii) A market device that provides insurance for individuals or other entities that cannot obtain coverage from an insurer on a voluntary basis, by sharing premiums and losses for such entities among participating insurers. (iii) Organization, analogous to Lloyd’s of London or a stock exchange, for the voluntary offering and buying of Reinsurance.
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A pooling mechanism for insureds not able to obtain insurance in the voluntary market. Insurers write and issue policies but cede premium and losses on those policies to a central pool in which all insurers share.
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An agreement by insurer allowing a broker to accept insurance of a defined category on the insurer’s behalf.
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MEDICAL,USA: Building location, equipment, and supplies for delivery of patient medical care (e.g., inpatient and outpatient hospital, acute or long-term care, intermediate or skilled nursing facilities).
Facility charge
Some managed care plans may vary cost shares for services based on place of treatment—in effect, charging a cost for the facility in which the service is received.
Facility for Dispensation for Liner shipping Rebating Arrangements
Where the conference ships are not available but non-conference vessels are available, the shippers have to obtain dispensation from the conference for shipping by non-concerned will not be deemed to be a defaulter and he shall be able to claim rebate due to him.
Facility of payment clause (Life Insurance)
A clause in industrial life coverage that states the insurer is permitted to pay some of the policy proceeds to a relative or other person who possesses the policy and seems entitled to the policy. This is done to minimize legal costs when settling an estate.
Facility practice expense
One of three components in the formula used to find out the relative value of physician services paid under the resource-based relative value scale (RBRVS). Facility practice expense corresponds to the physician’s direct and indirect costs associated with each service provided in a hospital, ambulatory surgery center (ASC), or skilled nursing facility (SNF).