Business that is investor owned and purchases, partners, or manages physician practices and gives investment capital for development or expansion of a practice.
Insurance Encyclopedia
physician provider group (PPG)
A physician-owned business that has the flexibility to deal with all forms of contract medicine and still offer its own packages to business groups, unions, and the general public.
Physician Quality Reporting Initiative (PQRI)
Voluntary program that provided a financial incentive to physicians and other eligible professionals who successfully reported quality information related to services provided under the Medicare Physician Fee Schedule between July 1 and December 31, 2007. It was established when President Bush signed the Tax Relief and Health Care Act of 2006 (TRHCA), Section 101 Title I.
Physician services
Medical services rendered by a physician to a patient. This may include surgery, consultation, home visit, office visit, hospital visits, and institutional visits. Physician services given while in the hospital that appear on the hospital bill are not included.
Physician visits
In-hospital, office, and home face-to-face visits by a physician. Most health plans provide insurance payment for visits when a patient is ill or has been injured.
Physician work
One of the three components used in the formula to develop relative value units (RVUs) for each medical service performed. This corresponds to the value of the physical skill, mental effort, judgment, and time required to perform a service. The other two components are practice expense and the cost of professional liability insurance. These three RVUs are then adjusted according to geographical area and used in a formula to determine the resource-based relative value scale (RBRVS) for the Medicare fees published annually in the Federal Register.
Physician-directed clinic
Facility for diagnosis and treatment of outpatients where (1) a physician gives medical services at all times, (2) each patient is assigned to receive care from a clinic doctor, and (3) nonphysician services are under medical supervision.
Physician-sponsored health plan
Type of managed care plan owned and controlled by large physician groups. These plans may offer enrollees a choice of programs with a financial incentive to use network physicians (e.g., exclusive provider organization [EPO], preferred provider organization [PPO], or point-of-service [POS] plan).
Physician’s current procedural terminology (CPT) (Health Insurance)
A manual created by the American Medical Association used to as the standard for detailing medical procedures and other services performed by physicians.
Physicians and Surgeons Equipment Insurance
An insurance used to cover equipment, materials, supplies and office furniture of individuals in the medical and dental profession.