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Medicare hospital outpatient prospective payment system (OPPS)

The way Medicare pays hospitals for services provided to patients who are not admitted overnight, such as clinic visits, emergency department services, and certain surgeries or procedures.

Packaging payments

When Medicare combines the costs of multiple services or drugs into a single payment for a primary procedure or visit, rather than paying for each item separately. This is also called 'bundling'.

Specified cancer treatment

A drug or biologic product approved by the FDA since January 1, 2008, used for cancer treatment or detection, not currently receiving a special temporary payment, and would otherwise have its payment packaged.

Average Sales Price (ASP)

The average price at which a drug is sold by manufacturers to all purchasers in the U.S., used by Medicare to determine payment rates for many drugs.

Wholesale Acquisition Cost (WAC)

The manufacturer's list price for a drug to wholesalers or direct purchasers, before any discounts or rebates.

Budget neutrality

A requirement that changes in payment policy within a program do not increase or decrease the total amount of money spent by the program. If payments for some services go up, payments for others must go down to compensate.