Payment rate

1. Dollar amount to be paid to a provider for medical services given to a member of a managed care plan. 2. Total payment that a hospital or community mental health center gets when it provides outpatient services to Medicare patients. Also see average payment rate (APR).

Payroll taxes

Taxes deducted from gross wages and salaries such as those for Social Security (Federal Insurance Contributions Act [FICA]) and unemployment insurance. Also called contributions and taxes.

PCP

Abbreviation for primary care provider, primary care physician, or primary care practitioner (PCP). See primary care physician (PCP).

PCS

Abbreviation that means prescription medication coverage (PCS), personal communication system (PCS), and physician coding specialist (PCS).