Glossary of Healthcare Terms

   

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Audiologists

Audiologists provide services in the management of auditory and balance related conditions.

Audit

A formal examination and verification of financial accounts.

Average Sales Price (ASP)

A way of calculating a benchmark, from which Medicare reimbursement for drugs may be determined, based on average manufacturer prices supplied by pharmaceutical companies.

Average Whole Sale Price (AWP)

A way of calculating a benchmark from which pharmacy contracting and Medicare reimbursement for drugs may be determined, based on the average price a drug wholesaler sells a particular drug.

Avoided Costs

A quantifiable amount of a future necessary economic operating expense that a purchaser will not have to pay upon purchasing certain intangible assets, i.e., a trained and assembled workforce.

Ayurveda

An Indian medical system that dates back 5,000 years. Ayurvedic medicine implements diet and herbal therapies, as well as channeling of the mind, body, and spirit, to prevent and treat disease.
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