Definitions for "Medicare-Approved Amount"
In the Original Medicare Plan, this is the Medicare payment amount for an item or service. This is the amount a doctor or supplier is paid by Medicare and you for a service or supply. It may be less than the actual amount charged by a doctor or supplier. The approved amount is sometimes called the ?Approved Charge.
This is the payment amount that Medicare and you pay to a doctor or supplier for a service or supply. It may be less than the actual amount charged by a doctor or supplier.
The amount, in the Original Medicare program, that a doctor or other health care provider is paid for a health care service including the deductible, coinsurance, and co-payment amounts that a beneficiary pays. The Medicare approved amount is the total that Medicare considers a reasonable amount for a health care service.