Professionals who provide trustee services as a business.
Insurance Encyclopedia
professional activity study (PAS)
Analysis and report performed regularly by the Commission on Professional and Hospital Activities and enumerated by average length of stay (ALOS) by region. Referred to as PAS norms. See also Commission on Professional and Hospital Activities (CPHA).
Professional Association of Health Care Office Managers (PAHCOM)
A nationwide organization dedicated to providing a strong professional network for health care office managers.
Professional association plan
Group insurance plan offered by a professional organization composed of self-employed professionals (e.g., accountants, attorneys, educators, physicians). This type of plan may provide more benefits and is less expensive than an individual plan.
professional component (PC)
That portion of a test or procedure (containing both professional and technical components) for which the physician reads and interprets but does not perform the test (i.e., interpreting an electrocardiogram [ECG], reading an x-ray, or making an observation and determination using a microscope). In hospital billing, this component is billed separately from the inpatient hospital charges.
Professional consultant
Employee of the insurance carrier, generally a physician, who reviews and answers questions about complex or unusual medical claims.
Professional corporation
A created unit that works in a field that supplies a professional service; for example, healthcare.
professional corporation (PC)
Physician or group of physicians who have incorporated, obtained a tax number, and filed articles of incorporation with the secretary of state’s office where the practice is doing business.
Professional courtesy
Discount or exemption from charges for professional services given to certain people at the discretion of the physician rendering the service. Rarely used in current medicine.
Professional fees legal protection
A legal expenses insurance for professional fees (including those of a firm’s accountants) for representing the insured’s interests in the event of being subject to an in-depth investigation by the IR. Also covered are appeals against VAT assessments made by HM Customs and Excise. Cover includes personal protection for individual directors, partners and the self-employed where there is likely to be overlap of the investigation into the individual’s own affairs. Cover usually extends to include the cost of fees that may be incurred by the insured in dealing with PAYE Audit Investigations.