System of payment used by a managed care plan in which a specialist provider is paid a fixed, capitated fee for giving medical services.
Insurance Encyclopedia
Specialty care
Health care services that a medical specialist provides (e.g., cardiologist, dermatologist, orthopedic surgeon).
Specialty case rate
Flat fee paid to a medical specialist for all medical services or procedures.
Specialty codes
See: taxonomy codes .
Specialty contractor
Medicare contractor who performs a limited Medicare function such as coordination of benefits and statistical analysis.
Specialty hospital
Medical facility that provides health care services for specific illnesses or diseases (e.g., psychiatric hospital, rehabilitation hospital, long-term care hospital [LTCH]).
Specialty plan
Type of Medicare Advantage Plan that provides more focused health care for some people. These plans give all the Medicare health care, as well as more focused care to manage a disease or condition such as congestive heart failure, diabetes, or end-stage renal disease (ESRD).
Specialty risks
Term used by commercial insurers to describe unusual coverage features or types of risks not underwritten by most insurers.
Specie
It means metal in form of minted pieces. A collective term for valuables such as gold or banknotes.
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UK: Marine term meaning any cargo with a value/weight ratio exceeding that of silver. The term covers gold bullion, other precious metals, precious stones, bonds, share certificates, money in coin and currency in notes. Specie does not include objets d’art or fine arts such as porcelain, sculptures and paintings.
Specific excess reinsurance
Another term for per occurrence/per loss excess reinsurance.