Procedure

Specific action, process, sequence of steps, or test performed on a patient either to establish a diagnosis or render a therapeutic service (e.g., minor or major surgery, laboratory tests, inserting an intravenous line).

Procedure code numbers

Five-digit numeric codes that describe each professional service the physician renders to a patient and used to communicate medical service data to insurance companies or government programs. These codes are used on insurance claims submitted to insurance programs for payment. Also referred to as CPT codes or procedural codes.

Proceeds

1. Face value of an insurance policy or annuity and any additions payable at maturity or death. 2. Under Medicare Secondary Payer guidelines, money obtained as a result of a transaction that is in the possession of the party to whom it was intended.