Reasonable cost

Reasonable cost

FIs and carriers use CMS guidelines to determine reasonable costs incurred by individual providers in furnishing covered services to enrollees. Reasonable cost is based on the actual cost of providing such services, including direct and indirect cost of providers and excluding any costs that are unnecessary in the efficient delivery of services covered by the program.

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Part of Speech: noun
Synonym(s):
Blossary:
Industry/Domain: Insurance
Category: Medicare & Medicaid
Company: Centers for Medicare & Medicaid Services
Product:
Acronym-Abbreviation:

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Related terms

reasonable cost

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That, in its amount and nature, is consistent with what a reasonable person would incur in the conduct of the same business in the same or similar circumstances.

reasonable cost

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FIs and carriers use CMS guidelines to determine reasonable costs incurred by individual providers in furnishing covered services to enrollees. Reasonable cost is based on the ...

reasonable-cost basis

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The calculation to determine the reasonable cost incurred by individual providers when furnishing covered services to beneficiaries. The reasonable cost is based on the actual ...

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A broad, flexible word used to make sure that a decision is based on the facts of a particular situation, rather than on abstract legal principles. It has no exact definition, but ...

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The dollar amount paid for any goods or services. Retail price equals cost price plus profit.

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The monetary value or price of a project activity or component that includes the monetary worth of the resources required to perform and complete the activity or component, or to ...