Professional Standards Review Organization (PSRO)
Definition of "Professional standards review organization (PSRO)"
Group that monitors government health insurance programs. Authorized by the 1972 amendment to the Social Security Act, PSROs were set up to cut costs and minimize abuses by checking on the need of applicants for care and the cost and quality of care.
Popular Insurance Terms
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Factor applied in retrospective rating in order to increase the basic premium to cover state premium taxes for liability and workers compensation insurance. For example, if a state premium ...
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Buy or sell order for security that expires at the end of the trading date on which it was entered if not executed. ...
Insurance coverage purchased on the same item from two or more insurance companies. ...
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