Payment

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Related to prospective payment: capitation

Payment

The amount required to repay a loan, including interest and fees.

Payment

The reception of compensation for a good or service. For example, if one sells a hairdryer for $10, the payment is $10. In a cash sale, payment is made immediately or almost immediately, while in a credit sale, payment may be delayed for a certain period of time.

payment

Funds given to another in exchange for goods or services or as reimbursement for money loaned.A mortgage payment may consist of interest only;it could be a combination of principal and interest; or it could also include sums for real estate taxes, property insurance, and/or private mortgage insurance. In order to use Microsoft Excel to calculate your monthly principal and interest payment for a mortgage, do the following:

1. In cell A1, place the annual interest rate.

2. In cell A2, place the number of months of the loan to fully amortize it.

3. In cell A3, place the principal amount of the loan.

4. In cell A4, write the following formula exactly: pmt(A1/12,A2,A3)

5. Cell A4 will calculate your monthly payment.

References in periodicals archive ?
The researchers construct a measure of prospective payment use for 300 metropolitan statistical areas for the years 2008-12, using data from the Health Care Cost Institute on over five million claims from 1,300 hospitals.
Under the Home Health Prospective Payment System, implemented in 2000, facilities received a 60-day prospective payment based on patients' health characteristics, functional status, and service use, which reduced marginal payment.
The creators of the prospective payment system hoped that it would eliminate unnecessary hospital care by penalizing hospitals for longer than average hospital stays.
This is the period from one year before to one year after the implementation of prospective payment.
Congress directed HCFA to develop a complementary prospective payment system for all outpatient care following the successful--from the Federal viewpoint--implementation of the DRG-based prospective payment system for inpatient care, begun in 1984.
To help healthcare executives sort through the numerous changes found in the new CMS regulations a special audio webcast Reimbursement Briefing: 2011 Final Medicare Inpatient Prospective Payment System Rule was presented on September 14, 2010.
MedPAC (2003a, b) examined changes before and after implementation of the prospective payment systems for SNFs and home health care and found substantial declines in the use of home health care but increases in the use of skilled nursing and other postacute care providers, indicating that, for some diagnoses, skilled nursing may be partly replacing home health care.
Having attended a few of those seminars and read a number of articles, I find that most experts agree on certain activities that today's lab manager and supervisor should be performing to function effectively under prospective payment.
Inpatient Psychiatric Facility Prospective Payment System (IPF PPS)
The audit of 147 claims revealed that 50 claims had been paid by both Part A through the prospective payment and by Part B as individually filed claims.
Although recent data suggest that the growth rate in nursing home expenditures has moderated (Cohen and Dubay 1990), important policy questions remain regarding the role of prospective payment in containing costs and its impact on equally important considerations of access to nursing home care and quality of care.
This first column summarizes Competitive Prospective Payment and Managed Competition, both of which have received attention in Washington, D.

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