What term describes doctors and suppliers agreeing to accept Medicare payment amounts?

The term that describes doctors and suppliers agreeing to accept Medicare payment amounts is "Assignment." When healthcare providers accept assignment, it means they agree to be paid directly by Medicare and to accept the Medicare-approved amount as full payment for their services. This is significant because it protects beneficiaries from being billed additional amounts beyond what Medicare pays, ensuring transparency and affordability in healthcare costs.

Assigning the payment amounts aligns with Medicare's goal of controlling costs and providing predictable expenses for beneficiaries. In this context, healthcare providers who have accepted assignment not only facilitate easier billing for patients but also streamline the payment process by directly handling claims with Medicare. This is distinct from other terms such as subrogation, which deals with insurance claims between different carriers, co-insurance, which refers to the shared cost of healthcare services that beneficiaries pay after deductibles are met, and deductible, which is the amount a beneficiary must pay out-of-pocket before Medicare starts covering costs.