Reimbursement in the context of US

⭐ Core Definition: Reimbursement

Reimbursement is the act of compensating someone for an out-of-pocket expense by giving them an amount of money equal to what was spent.

Companies, governments and nonprofit organizations may compensate their employees or officers for necessary and reasonable expenses; under USlaw, these expenses may be deducted from taxes by the organization and treated as untaxed income for the recipient provided that accountability conditions are met. UK law provides for deductions for travel and subsistence. Reimbursement is also provided for supply, day care, mobile, medical, or education expenses, as determined by the payer. Similarly, a university, academic conference, or business conference may reimburse the expenses of an invited speaker or attendee.

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⭐ Core Definition: Reimbursement
Reimbursement in the context of International Classification of Diseases
Reimbursement in the context of Out-of-pocket expense

Reimbursement in the context of International Classification of Diseases

The International Classification of Diseases (ICD) is a globally used medical classification that is used in epidemiology, health management and clinical diagnosis. The ICD is maintained by the World Health Organization (WHO), which is the directing and coordinating authority for health within the United Nations System. The ICD was originally designed as a health care classification system, providing a system of diagnostic codes for classifying diseases, including nuanced classifications of a wide variety of signs, symptoms, abnormal findings, complaints, social circumstances, and external causes of injury or disease. This system is designed to map health conditions to corresponding generic categories together with specific variations; for these designated codes are assigned, each up to six characters long. Thus each major category is designed to include a set of similar diseases.

The ICD is published by the WHO and used worldwide for morbidity and mortality statistics, reimbursement systems, and automated decision support in health care. This system is designed to promote international comparability in the collection, processing, classification, and presentation of these statistics. The ICD is a major project to statistically classify all health disorders and to provide diagnostic assistance. The ICD is a core system for healthcare-related issues of the WHO Family of International Classifications (WHO-FIC).

View the full Wikipedia page for International Classification of Diseases

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Reimbursement in the context of Out-of-pocket expense

An out-of-pocket expense, or out-of-pocket cost (OOP), is the direct payment of money that may or may not be later reimbursed from a third-party source. For example, when operating a vehicle, gasoline, parking fees and tolls are considered out-of-pocket expenses for a trip. Car insurance, oil changes, and interest are not, since the outlay of cash covers expenses accrued over a longer period of time. The services rendered and other in-kind expenses are not considered out-of-pocket expenses; the same goes for depreciation of capital goods or depletion.

Organizations often reimburse out-of-pocket expenses incurred on their behalf, especially expenses incurred by employees on their employers' behalf. In the United States, out-of-pocket expenses for such things as charity, medical bills, and education may be deductions on US income taxes, according to IRS regulations. To be out of pocket is to have expended personal resources, often unexpectedly or unfairly, at the end of some enterprise.

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⭐ Core Definition: Reimbursement

Reimbursement in the context of International Classification of Diseases

Reimbursement in the context of Out-of-pocket expense