Business, Legal & Accounting Glossary
HMO. A form of health insurance combining a range of coverages in a group basis. A group of doctors and other medical professionals offer care through the HMO for a flat monthly rate with no deductibles. However, only visits to professionals within the HMO network are covered by the policy. All visits, prescriptions, and other care must be cleared by the HMO in order to be covered. A primary physician within the HMO handles referrals.
A health maintenance organization, or HMO, is a public or private organization that provides comprehensive medical care, based on a prepaid contract agreement. A health maintenance organization can be considered a form of health insurance, designed to deliver a broad range of services for a fixed payment. Once the health maintenance organization contract is signed and payments are secured, a health maintenance organization takes on a legal responsibility for all pre-approved costs associated with pre-approved medical conditions. A health maintenance organization comprises a network of medical care providers, such as doctors, hospitals, laboratories, and other medical treatment entities. In addition, a health maintenance organization designates a Primary Care Physician (PCP), who in turn handles other health-related services. Although a health maintenance organization system was developed as a flexible and affordable healthcare financing option, any given health maintenance organization may limit care, even against the advice of network affiliated doctors.
You should make sure that you find a good health maintenance organization so that you can trust the care you get.
My job has really angered a lot of its employees by opting for the health maintenance organization plan this next upcoming year.
My Health Maintenance Organization provides me with many different doctors for a stable monthly rate, though I am only able to choose doctors through my network that take my policy.
My medical care is very cheap because my doctor is part of an HMO, but the downside is that I only have a few doctors to choose from.
The company-sponsored HMO plan afforded employees a variety of health benefits that would be uncommon to receive as a self-employed person.
John Smith opted for Blue Shield’s HMO plan because he was young and healthy and he didn’t mind having to limit his providers to those doctors and clinics that participate in the plan.
HMO
healthcare sector
Preferred Provider Organization
PPO
alternative dispute resolution
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This glossary post was last updated: 5th November, 2021 | 0 Views.