Paid Amount in Medical Billing
The paid amount is the total sum reimbursed by the insurance company to the healthcare provider for services rendered.
Paid Amount in Medical Billing Explained
In medical billing, the paid amount reflects what the insurance company has paid toward a claim after applying any deductions, co-pays, or adjustments. This amount is different from the billed amount, as it accounts for negotiated rates and patient responsibility.
For example, if a procedure costs $1,000 and the insurance company pays $700, the paid amount is $700.
Learn more about common acronyms and abbreviations in Medical billing glossary.
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