Association accredited by the American National Standards Institute that develops and maintains standards for information transactions or data elements or any other standard under the Health Insurance Portability and Accountability Act (HIPAA).
Insurance Encyclopedia
Standard Slip
The broker’s slip used in the London market. the standard format is mandatory for slips presented by brokers to L.P.S.O. and the I.L.U.
standard transaction format 837P
Electronic claims transmittal format of the CMS-1500 insurance claim.
standard transaction format compliance system (STFCS)
An Electronic Healthcare Network Accreditation Commission (EHNAC)-sponsored Washington Publishing Company (WPC)-hosted Health Insurance Portability and Accountability Act (HIPAA) compliance certification service.
Standard transactions
1. Under the Health Insurance Portability and Accountability Act (HIPAA), the electronic files in which medical data are compiled to produce a specific format. 2. Under HIPAA, a transaction that complies with the applicable HIPAA standard.
Standard Turnover
In Business Interruption Insurance the turnover of the insured business for the period during the twelve months before the date of material damage occurring corresponding to the indemnity period which begins on that date.
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UK: Business interruption term meaning the turnover during the 12 months immediately before the date of the material damage. The liability of the insurer for loss of gross profit is determined by applying the rate of gross profit to the reduction in turnover being the difference in turnover between the standard turnover and the turnover achieved during the indemnity period.
Standard valuation law
Legislation that is uniform in all states and stipulates the minimum standards for calculating or valuing insurance reserves that a life insurance company must maintain for its life insurance policies and annuity contracts. It was first developed by the National Association of Insurance Commissioners.
Standardization
Act of making charges or costs more comparable among medical providers, plans, and geographical areas. This is accomplished by adjusting specific services or bundles of services to remove differences that result from geographical variation in prices and beneficiary health risk.
Standards of care protocols
Set of guidelines for medical tests and procedures that are considered covered services for specific predetermined diagnoses.
Standards of Ethical Coding
Code of conduct developed by the American Health Information Management Association to provide a basis for ethical decision-making in coding practice.