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TeachMeFinance.com - explain Approved Amount Approved Amount The term 'Approved Amount ' as it applies to the area of Medicare in the United States can be defined as ' The fee Medicare sets as reasonable for a covered medical service. This is the amount a doctor or supplier is paid by you and Medicare for a service or supply. It may be less than the a tual amount charged by a doctor or supplier. The approved amount is sometimes called the 'Approved Charge.' (See Actual Charge; Assignment.)'. Previous 5 Terms: Appropriation appropriation doctrine Appropriative Approval History Approval Letter Next 5 Terms: approved drugs approximation Appurtentant structures APRCH APRCHG About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.