Impartial specialist entrusted by the shipowner with the adjustment of general average losses. In practice adjusters handle all types of marine claims sometimes excepting straightforward cargo claims. Underwriters the adjuster’s fee when they pay are liable for the claim. If no liability attaches, the adjuster waives his fee. See ASSOCIATION OF AVERAGE ADJUSTERS.
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An adjuster of marine losses.
Tag: RAW
Average Agreement
Document signed by property owners by terms of which they agree to pay any general average contribution properly due so that property may be released after a general average loss has occurred. Average agreements were found often in both marine and inland marine policy but have mostly been replaced by co-insurance clauses.
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UK: See: General Average Bond.
Average Clause
Property Insurance clause providing that similar items in one location or several locations which are insured by a Policy shall be covered in the proportion that the value of each bears to the value of all. Previously known as a “Pro-rata distribution Clause:” or “Average Distribution Clause.”
Average community rate (ACR)
See: adjusted community rate (ACR).
Average Cost Per Claim, Health
The total cost of administrative and/or medical services divided by the number of units of exposure such as costs divided by number of admissions, or cost divided by number of outpatient claims, etc.
Average daily census
Count (enumeration) and demographics of hospital inpatients or members of a managed care plan. The census is given in a daily hospital admission and disposition report that shows patients gained and lost in census, changes in status, and numerical strengths of transient patients and boarders.
Average daily patient load—bassinet (ADPL-BASS)
Average number of live births in the hospital that are provided medical care daily during a specific report period. The formula is to divide the number of bassinet days during the period by the total number of days in the report period. See bassinet day.
Average daily patient load—inpatient (ADPL-IP)
Average number of hospital inpatients, excluding live births, who receive care daily during a specific period that is to be reported. This includes same-day admission/discharge patients. The formula is to divide the number of inpatient bed days during the period by the total number of days in the report period.
Average daily patient load—total (ADPL-TOT)
Average number of inpatients including live births that receive care daily during a specific period, which is to be put into a report. This includes same-day admission/discharge patients. The formula is to divide the sum of occupied bed days during the period by the total number of days in the report period.
Average daily revenue (ADR)
Formula for determining the ADR is performed by dividing revenue for a 3-month period ending on the date of the calculation by the number of days in the 3-month period.