Informed Financial Consent definition

Informed Financial Consent means the medical provider advises you of any out-of-pocket costs before your admission. This is called Informed Financial Consent.
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Informed Financial Consent means a Practitioner providing information to a Member to allow them to make a voluntary decision whether to consent to receive a Service with the knowledge and understanding of the benefits, risk and costs involved in receiving the Service and after being provided with the information the Member consents to receive the Service. MBS means the Medicare Benefits Schedule, the current schedule of medical fees set by the Commonwealth Government under the Health Insurance Act 1973 (Cth). Medicare Multiple Operation Rule is described in Note TN 8.2 Medicare Benefits Schedule.
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Informed Financial Consent means the Practitioner must give an Eligible Member or their legal representative a clear written estimate of fees. This includes identifying the cost of any prosthesis that is gap permitted or not listed in the Private Health Insurance (Prosthesis) Rules, where the Practitioner proposes the use of such a prosthesis, along with any out-of- pocket expenses that the Eligible Member may incur during their Episode: (a) prior to providing Services to the Eligible Member; or (b) where it is not practicable or possible to do so due to an emergency situation, as soon as the circumstances reasonably permit. The Practitioner must ensure that consent has been validly given by, or on behalf of, the Eligible Member. In the event a Practitioner indicates that HBF and Medicare will pay a portion of the Practitioner’s fee, a statement that an Eligible Member will be required to pay the account in the event HBF or Medicare do not pay will not constitute Informed Financial Consent for the purposes of this Agreement. MBS means the Medicare Benefits Schedule, the current schedule of medical fees set by the Commonwealth Government under the Health Insurance Act 1973 (Cth). Medicare Multiple Operation Rule is described in Note TN 8.2 Medicare Benefits Schedule.
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Examples of Informed Financial Consent in a sentence

  • Members are advised to ask the Hospital and their doctors what their potential Out-Of-Pocket Expenses might be (see also Informed Financial Consent).

  • It is important to ensure when being admitted to hospital that Informed Financial Consent is provided to you for a pre-booked admission to allow you to understand any out-of-pocket expenses upfront.

  • One or more of your providers may choose to charge above the MBS amount, if you havereceived Informed Financial Consent we will pay up to an additional 20% above the schedule fee to assist with reducing your out of pocket costs.

  • Please note that because Informed Financial Consent is not obtained for pathology or radiology services, these services are paid at maximum benefits payable in the first instance.

  • AMPs must confirm with accepted standards of Informed Financial Consent.

  • On admission staff will provide you with an Informed Financial Consent form to give you an approximate quote of out-of-pocket expenses you may incur during your stay.

  • On these occasions, you must:• Clearly explain to the Bupa customer that you will not apply the Scheme on this occasion.• obtain Informed Financial Consent (IFC) from the eligible Bupa customer at the first consultation leading to the episode of care; and• bill the Bupa customer directly.

  • CMPs must conform with accepted standards of Informed Financial Consent.

  • We strongly recommend you understand your entitlements and obtain Informed Financial Consent from your doctor, anaesthetist or hospital to understand the potential out-of-pocket costs.Informed Financial ConsentYou have the right to know what your episode of medical treatment might cost.

  • This information should cover the patient’s liability for any charges not covered by their health insurer for any prosthesis items (Commonwealth Informed Financial Consent Guidelines (PHI 63/05)). Prostheses items other than Cardiothoracic and Ophthalmic will be reimbursed at the rate of the minimum benefits listed in the Schedule in the Private Health Insurance (Prostheses) Rules (Cwth).

Related to Informed Financial Consent

  • Qualified Financial Contract means a qualified financial contract as defined in 12 U.S.C. Section 1821(e)(8)(D).

  • Informed consent means a documented written agreement to allow a proposed action, treatment, or service after full disclosure provided in a manner the individual or his or her guardian understands, of the relevant facts necessary to make the decision. Relevant facts include the risks and benefits of the action, treatment, or service; the risks and benefits of the alternatives to the action, treatment, or service; and the right to refuse the action, treatment, or service. The individual or his or her guardian, as applicable, may revoke informed consent at any time.

  • Financial Closure means compliance with the requirements under Article 3.1 of this Agreement;

  • Financial Close means the Capacity Market Seller has demonstrated that the Capacity Market Seller or its agent has completed the act of executing the material contracts and/or other documents necessary to (1) authorize construction of the project and (2) establish the necessary funding for the project under the control of an independent third-party entity. A sworn, notarized certification of an independent engineer certifying to such facts, and that the engineer has personal knowledge of, or has engaged in a diligent inquiry to determine, such facts, shall be sufficient to make such demonstration. For resources that do not have external financing, Financial Close shall mean the project has full funding available, and that the project has been duly authorized to proceed with full construction of the material portions of the project by the appropriate governing body of the company funding such project. A sworn, notarized certification by an officer of such company certifying to such facts, and that the officer has personal knowledge of, or has engaged in a diligent inquiry to determine, such facts, shall be sufficient to make such demonstration.