Abbreviation for Veterans Affairs. See Department of Veterans Affairs (VA) .

Legally binding.

Process by which the integrity and correctness of data are established. Validation processes can occur immediately after a data item is collected or after a complete set of data is collected.

Table showing number of deaths that is used to calculate the legal reserve and life insurance policy cash surrender values. It has wide margins of safety and indicates much higher rates of mortality than the tables that insurance companies use for calculating premiums.

Period of years that is considered as a unit for purposes of calculating the status of a trust fund.

Annual net premium used to calculate reserves by insurance companies (e.g., to describe the generally accepted accounting principles [GAAP] net premium).

Accepted principle, standard, or quality regarded as worthwhile or desirable.
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UK: The worth of something in money terms. The standard fire policy offers to pay the insured the ‘value of the property’ and the average clause refers to the ‘value of the property at the time of fire’. Following the rules of construction the term will be given its ordinary meaning and the word will be given the same meaning wherever it appears in the policy unless a contrary intention is shown by express words or definitions contained in the policy. Under unvalued policies value generally means market value unless the policy is written on a reinstatement basis. Marine insurance policies are generally issued on a valued policy basis.

Vendor that facilitates transmission of electronic data interchange (EDI) data communications and translation services among multiple trading partners.

Amount of money levied on the increment of value that is added to a product at each stage of the production process. It is similar to a sales tax and is sometimes referred to as a consumption tax .

Two-digit codes that have related dollar amounts that identify monetary data required for processing insurance claims. Value codes represent payments received, laboratory readings, newborn weights, outlier amount, patient liability amount, and other types of data. Value codes are inserted in Fields 39, 40, and 41 of the Uniform Bill (UB-04) inpatient hospital billing claim form.