What does Conversion Factor mean? Read on to discover the definition & meaning of the term Conversion Factor - to help you better understand the language used in insurance policies.
A stated dollar-per-point amount used to determine benefit amounts paid for the cost of a procedure under a health insurance plan. For example, a plan with a $5-per-point conversion factor would pay $1,000 for a 200-point-procedure.
We hope the you have a better understanding of the meaning of Conversion Factor.