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P. P/ P& Pa Pc Pd Pe Ph Pi Pl Pm Pn Po Pp Pr Ps Pt Pu Py
Pea Pec Ped Pee Pel Pen Peo Pep Per Pet

Performance Guarantee Bond

While awarding important contracts, the employer often takes precautionary measures to protect his interest against the possible failure of the contractor to perform the work in question. Usually the contractor is asked to deposit in cash or approved securities a certain amount based on the contract value called security deposit which is liable to be forfeited at the discretion of the employer in the event of the contractor failing to complete the work in accordance with the terms of the contract. The performance bonds issued by the Insurers are accepted by the employers in lieu of the security deposit. The Insurer guarantees to pay a stated amount in case the contractor fails to complete the contract as per terms of the contract.

Performance improvement projects

Schemes or plans that examine and seek to achieve enhancement in major areas of clinical and nonclinical services. These plans are usually based on utilization, diagnosis, and outcome information; data from surveys; and grievance and appeals processes. They measure performance at two periods of time to find out if improvement has occurred. These projects are required by the state and can be of the managed care organizations’/prepaid health plans’ (MCOs’/PHPs’) choosing or prescribed by the state.

Performance measure

1. Gauge used to assess the carrying out or execution of a process or function of any organization. 2. Quantitative or qualitative measure of the care and services delivered to enrollees (process) or the end result of that care and services (outcomes). Performance measures can be used to assess other aspects of an individual’s or organization’s performance such as access and availability of care, utilization of care, health plan stability, beneficiary characteristics, and other structural and operational aspects of health care services. Performance measures may include measures calculated by the state from encounter data or another data source, or measures submitted by the managed care organization or prepaid health plan. 3. Information that reveals how well a health plan provides a certain treatment, test, or other health care service to its members. For example, Medicare uses performance measures from National Committee for Quality Assurance’s (NCQA’s) Health Employer Data and Information Set (HEDIS) to get information on how well health plans perform in quality, how easy it is to get care, and members’ satisfaction with the health plan and its doctors.

Performance standards

Quality of care goals that a medical provider is expected to meet such as office hours per week, office visits per month, on-call days, percentage of accounts receivable collected, and surgeries performed per year. Also called performance goals.

Peril

(01) Cause of loss such are Fire, windstorm, water leakage, housebreaking etc. (02) A type of event that may cause a loss that may or may not be covered by an insurance policy. An insured peril is one for which insurance cover is provided. Examples of perils that may be covered are fire, theft, accident, windstorm, earthquake, riot and civil commotion.
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UK: A contingency, or fortuitous happening, which may be covered or excluded by the policy.
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A harmful event which may be covered under a contract of insurance or reinsurance as an insured peril or excluded from it.
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A potential cause of loss.
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US: Cause of loss—for example, fire, windstorm, collision.
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MEDICAL,USA: Certain specified risks covered by an insurance policy (e.g., fire, flood, hurricane, theft, windstorm).
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UK: the actual or potential cause of loss.
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US: The cause of a possible loss, such as fire, windstorm, theft, explosion, or riot.
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The cause of a possible loss. For example, fire, theft, or hail.
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REINSURANCE: This terms refers to the causes of possible loss in the property field – for insurance: Fire, Windstorm, Collision, Hail, etc. In the casualty field the term “hazard” is more frequently used.