Firekeeper,
Namaste...
I have often read that Usui named the practice and teaching of Reiki as "Usui Shiki Reiki Ryoho" translated, The Usui System of Reiki Healing.
The name indicates Reiki as descriptive of the healing practice.
Perhaps over the years it has been shortened for simplicity's sake, so it could mean both ULE (which is what I have always read it to be, never having it mentioned to be the "practice" thereof).
But it is certainly how we use the term, both in saying we practice Reiki, (which is how I say it) but also understanding that Reiki = ULE.
Just sharing what I've read...
Happy day!
Mammabear