👉 Payors are individuals, organizations, or entities who receive payments for services or goods provided by others. They typically include healthcare providers (physicians and dentists), government agencies, non-profit organizations, businesses, and other institutions. The payment is typically made through a variety of methods such as cash, credit card, check, or electronic transfer.
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What is the definition of Payor? 🙋
👉 A payer in the context of healthcare refers to the entity or individuals who are responsible for paying for or receiving health care services. These entities can include patients, medical professionals, insurance companies, and other third-party organizations that cover costs associated with treatment. Payers may be governmental bodies, private corporations, or non-profit organizations. The role of a payer is crucial in ensuring access to healthcare services for all individuals, regardless of their financial status or location.
