Definition

A code used by hospitals to classify services provided. It helps organize charges on your bill by service type.

What to consider

  • Review the summary for an overview of your expenses.
  • Compare it with detailed itemized charges.
  • Keep the summary for future financial planning.

Real world scenarios

  • At the end of the month, a small business received a financial summary showing total charges, payments, and adjustments.
  • John’s quarterly financial summary helped him track overall billing trends.
  • Linda’s billing statement included a financial summary for quick review of her account status.

Related terms

Healthcare