What is PRIVATE CONTRACT?
PRIVATE CONTRACT meaning A contract between you and a doctor, podiatrist, dentist, or optometrist who has decided not to offer services through the Medicare program. This doctor can?t bill Medicare for any service or supplies given to you and all his/her other Medicare patients for at least 2 years. There are no limits on what you can be charged for services under a private contract. You must pay the full amount of the bill.
reference: Centers for Medicare & Medicaid Services