Financial Glossary

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Term Definition
Advance Beneficiary Notice (ABN) Acknowledgment of financial responsibility by a patient for services not covered or unauthorized.
Ambulatory Care Also referred to as outpatient services.
Ancillary Services Medical studies or services used directly to support the patient’s needs, such as diagnostic radiology, radiation therapy, clinical laboratory or other special services.
Annual Maximum The maximum amount that an insurance company will pay toward an insured’s claim in one year. The insurance company may divide claims into categories to establish annual maximum amounts.
Asset Any owned physical object (tangible) or right (intangible) having economic value to its owner.
Assignment of Benefits (AOB) An agreement in which the patient signs a statement instructing his or her insurance company to pay the health care provider directly for services rendered.