Medical Billing Glossary

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Whether you’re an experienced biller or brand new to the role, these 15 commonly used terms will help you choose a Medical Billing system that meets your needs—and take advantage of its best features. 

The maximum amount an insurance company will pay for a covered healthcare service. It is also known as an “eligible expense” or “negotiated rate.” If a provider charges more than the allowed amount, the patient typically pays the balance beyond what the insurance company pays.

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