Type of hospital invoice (patient’s financial accounting statement) assessed by someone auditing a hospital bill that has services that have been provided and not billed. Also see clean bill and over bill .
Insurance Encyclopedia
Under insurance
Where the sum insured does not represent the true value of the property insured.
Under-insurance
Occurs when the amount of insurance is less than the full value of the property insured and means that the insured pays a smaller premium than that required as the rate is fixed on the basis of full values being insured. It leads to partial loss claims being scaled down by average. See FIRST LOSS POLICIES.
***
the situation where the sums insured represent less than the total value of the property at risk.
Underbilled services
Uncoded or undercoded services and procedures that are due to poor medical documentation and not enough information in the patients’ medical records to code at levels of full payment.
Undercoding
See: downcoding .
Underfunding
Occurs where defined benefit scheme’s assets are less than its accrued liabilities. Under the minimum funding requirement the employer and the trustees must agree a schedule to eliminate the deficit over a five-year period. Extra contributions from the employer may correct the position.
Undergraduate medical education
Medical training provided to students in medical school.
Underground Property Damage
Refers to damage to underground property, such as wires, conduits or pipes, sewers, etc., beneath the surface of the ground caused by the use of mechanical equipment for the purpose of grading land, paving, excavating, drilling, burrowing, filling, backfilling or pile driving.
Underground property damage (Liability Insurance)
Damage caused to underground property, such as sewers, caused by mechanical equipment being used to excavate, drill, backfill, grade, or make some other change to the ground around the property.
Underground storage tank (UST)
Tanks sunk in the ground that are used to store or dispose of gasoline or other fuels, hazardous chemicals, or other pollutants or contaminants.