All wages from employment and net earnings from self-employment, whether or not taxable or covered.

Chronological history of the amount a worker earns each year during his or her working lifetime. For Social Security, credits earned remain on an individual’s Social Security record even when changing jobs or during a period with no earnings.

Values relating to future trends in certain key factors that affect the balance in the trust funds. Economic assumptions include unemployment, average earnings, inflation, interest rates, and productivity. Also see assumptions .

1. Process by which a managed care plan takes a physician’s economic behavior into account and endorses that a physician is competent to render medical services to members of the plan. A physician’s economic review might include tests ordered, hospital bed days, and outcomes. See also provider profiling . 2. Related to a hospital setting, it enables a hospital to obtain control over economic factors that affect the quality of medical care and range of medical services that a hospital can provide. 3. Analysis of claims and benefits data to identify cost, use, and quality of care by physicians, health care facilities, and allied health providers.

Total financial loss as a result of the death or disability of the wage earner or from destruction of property.
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UK: In tort, the term refers to losses that are ‘purely’ economic, i.e. those where the claimant has suffered financial damage but no personal injury or damage to property. Such losses are not generally recoverable in tort except when resulting from negligent statements made when a duty of care attaches, usually to a professional person, who has voluntarily assumed responsibility. Special damage, including pure financial loss (often extra expenses), resulting from a public nuisance is recoverable in tort. The courts prefer to deal with pure economic loss in the context of contracts rather than tort. For insurance implications see financial loss.

Legislative program during the early 1970s that limited price increases.

Computer software program that accepts electronic data interchange (EDI) transmitted files and converts the data into another format, or converts a non-EDI file into an EDI format for transmission.

Electronic examination of transmitted insurance claims for errors, conflicting code entries, and a match of diagnosis to medical service(s) provided. Also called claim edits . See front-end edits .