Final answer:
A participating Medicare provider is a healthcare provider that has agreed to accept the Medicare-approved amount and follow the program's guidelines and payment rates.
Step-by-step explanation:
A participating Medicare provider refers to a healthcare provider that has agreed to accept the Medicare-approved amount for a service or procedure. These providers have entered into a contract with Medicare and are required to follow the guidelines and payment rates set by the program. By choosing a participating provider, Medicare beneficiaries can typically receive services at a lower cost.