Third-party payers negotiate fees for services. If it cost the hospital $2,000 for costs associated with placing a PICC line and the insurance company has negotiated to pay 40% of the cost, how much will the hospital receive?
a. $900 c. $1,000
b. $800 d. $700
B
Third-party payers typically contract with the health care organizations for the amount that the third-party payer is willing to pay or reimburse. This is important because the total revenue does not mean the hospital will be reimbursed 100% for their costs. 40% of $2,000= $800.
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Indicate whether this statement is true or false.
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