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 Posted: Mon Nov 29, 2010 1:32 am Post subject: Reimbursement |
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I would like to know, can someone explain to me what reimbursement means and what a business is reimbursed for and why a business is reimbursed?
I know this is not the right forums to post it in but I have no other forums to post it in.
Thanks for any help.
Nicholas |
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Nicholas_peters_
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| Posted: Mon Nov 29, 2010 2:55 pm Post subject: |
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Reimbursement means "to pay back".
How "reimbursement" applies to a business depends on what the business has paid for. An example might be a business that pays for an employee to attend an insurance prelicensing course, but the employee fails to pass the licensing exam. The company's agreement might include a requirement for the employee to reimburse the company for the cost if they don't pass the exam (or if they do, but quit the company soon after to go to work for someone else that pays more money).
Do you have a more specific situation in mind?
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MaxHerr
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| Posted: Wed Dec 01, 2010 1:32 am Post subject: |
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| Well I am not so sure, but I know my company purchases dme equipment and they ask for reimbursement from doctors and insurance companies. i know this is where the deductible and out of pocket come into play. I guess my company pays for the items, then provides the patients with the equipment and asks for reimbursement, but I am not so sure for what- are they asking for reimbursement for what they paid for the items? probably a silly question. |
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Nicholas_peters_
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| Posted: Wed Dec 01, 2010 6:41 am Post subject: |
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Nicholas . . .
Your company expends some of its capital to purchase the DME that it supplies to patients and/or physicians. Those items have to be paid for by someone. So your company bills the doctors or the insurance companies, and receives "reimbursement" for its expenditure (to pay money is to "disburse" funds). If your company intends to be profitable, then the reimbursements must exceed its expenditures.
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CA-licensed P&C Broker-Agent and Life Agent. CA Insurance Lic #0596197. Now investigating insurance company abuses, and providing litigation support and expert witness services. Send me your questions, and I'll send you my answers. |
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MaxHerr
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