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.
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.
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.
Examples of Informed Financial Consent in a sentence
Doing this will result in the removal of redundant and duplicate provisions, freeing funds to operate more efficiently while still protecting the public’s interest; and • The Government is also continuing to work with the AMA, insurers and hospitals to improve rates of Informed Financial Consent for private medical and hospital services.