In the hospital setting, a nursing service fee that is assessed in addition to the room and board charge.

To suffer or become liable for a financial loss, medical claim, or health expense such as when a health insurance plan is legally responsible and must pay on a claim for an insured.

Costs based on when the medical service was performed rather than when the payment was made.

Reported and unreported insurance claims that have not been paid for a specific date.

Estimate of insurance claims that actually are incurred in a policy year plus the change of the claim reserves as of the end of the year. The change in reserves stands for the difference between the end-of-the-year and beginning-of-the-year claim reserves.

Total dollar amount of insurance claims within a specific period of time regardless of when those claims are reimbursed.
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Incurred claims equal the claims paid during the policy year plus the claim reserves as of the end of the policy year, minus the corresponding reserves as of the beginning of the policy year. The difference between the year end and beginning of the year claim reserves is called the increase in reserves and may be added directly to the paid claims to produce the incurred claims. Typically, incurred claim values include some expenses of paying claims such as those allocated to individual claims.

Proportion of the claims incurred to the premiums earned to establish the loss. This ratio is based on a formula by taking incurred claims added to expenses and divided by premiums.

Proportion of the annually incurred claims to the annually paid claims.

Type of contract that provides for an indefinite quantity of supplies or services during a fixed period of time. Under the Federal Acquisition Regulations (FAR) in 16.501(a), when a government program manager is unsure of the exact quantity of products or services needed to fulfill his or her agency’s needs, or the exact time at which these products or services will be necessary, an Indefinite Delivery/Indefinite Quantity (ID/IQ) contract provides the solution. Supplies or services are acquired through the issuance of individual delivery orders or individual task orders (i.e., Job Order Contracts). An ID/IQ contract is ideal for many government contracting officers because the tasks can be aligned in accordance with the agency’s available funding. Also known as job order contracting (JOC) to public entities.

Corporation agrees to hold the doctor and his or her agents and employees harmless from any and all liability, loss, damage, claim, or expense of any kind including costs and attorneys’ fees that result from negligent or willful acts or omissions by the corporation and its officers, agents, or employees in connection with the duties and obligations of the corporation under an agreement.