Medical Billing Terminology: F

F

  • Fee For Service Insurance where the provider is paid for each service or procedure provided.
  • Fee Schedule Cost associated with each CPT treatment billing code for a provider’s treatment or services.
  • Financial Responsibility The portion of the charges that are the responsibility of the patient or insured.
  • Fiscal Intermediary (FI) A Medicare representative who processes Medicare claims.
  • Formulary A list of prescription drug costs which an insurance company will provide reimbursement for.
  • Fraud When a provider receives payment or a patient obtains services by deliberate, dishonest, or misleading means.
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