Prior Authorization: In the context of a pharmacy benefit management (PBM) plan, a program that requires physicians to obtain certification of medical necessity prior to drug dispensing. Also known as a medical-necessity review.

 

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Prior Authorization: In the context of a pharmacy benefit management (PBM) plan, a program that requires physicians to obtain certification of medical necessity prior to drug dispensing. Also known as a medical- . . . View Full Definition

Priority Modes: Aperture and shutter speed priority modes are a shortcut to easy exposure adjustment. To set exposure manually, you would need to adjust aperture and shutter speed settings separately. With . . . View Full Definition

Proper Authorization: Policy regarding either a general class of transactions such as inventory or a specific transaction to achieve control objectives.

Priority Dates: Priority Dates are the dates by which you need to have your file completed in order to get financial aid before the fee-payment deadline.

Prior-Preferred Stock: Preferred stock that has a higher claim on all dividends and assets in liquidation than claims of other preferred stock.

Prior-Period Adjustments: Adjustments made directly to Retained Earnings in order to correct errors in the financial statements of prior periods.

Prospective Authorization: Authorization to deliver healthcare service that is issued before any service is rendered. Also known as precertification.

Priority: The order of position, time or place. The priority of liens is generally determined by the chronological order in which the lien documents are recorded, tax liens, however, have priority eve . . . View Full Definition

Retrospective Authorization: Authorization to deliver healthcare service that is granted after service has been rendered.

Superfund Amendments And Reauthorization Act (SARA): An amendatory statute that contains stronger cleanup standards for contaminated sites, increased funding for Superfund and clarifications of lender liability and innocent landowner immunity.