Health Care Economics Issues HMO Simulation Name University of Phoenix Economics: The Financing of Health Care HCS440 instructor date Health Care Economics Issues HMO Simulation Castor Collins is a health insurance company that offers health maintenance organization (HMO) to organizations. This health insurance company was founded in 1999 in Pantome. Two organizations are trying to seek coverage for their employees and have chosen to see what Castor Collins has to offer them. The
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Organization (HMO)‚ Preferred Provider Organization (PPO)‚ and Point of Service (POS). HMOs are a prepaid basis provider‚ where there members pay a fixed monthly fee‚ regardless of the medical care needed monthly. The medical service provided by an HMO can vary for office visit to hospitalization or surgery. Member can only receive medical treatment from the in-network physicians or facilities. HMO member can only be referred by an in-network physician to a specialist. Choosing an HMO provide a
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Features of Private Payer and Consumer-Driven Health Plans The following reading is to familiarize the reader with private payer plans and types of consumer-driven health plan (CDHP) accounts. Private payer plans such as PPOs‚ HMOs‚ and Group HMOs are the most popular but there are also others to consider when making decisions on health coverage‚ which are IPAs‚ POSs‚ and Indemnity plans. The CDHP accounts are made “for the consumer” and therefore consumers (patients) have a say in what kind of plan
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gradual transition with sudden changes such as managed health care plans. These plans are involved in models consisting of cost and quality. There are four main healthcare plans that emphasize on continuum of managed care including service plans‚ POS‚ HMO‚ PPO and CDHP plans. Each of these health plans are consisted of different features‚ structures and guidelines that make them unique and effective in their own way. Traditional health insurance is the first type of managed care mentioned in continuum
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You Decide Project Cooper-Pearson Sports Marketing Keller Graduate School of Management July 17‚ 2013 You Decide Project My research paper will discuss HMO and PPO by contrasting and comparing‚ as well as indemnity insurance program. Also I will discuss which of these three managed care programs is the best service for Cooper-Pearson. And will answer the following questions; (1).Discuss the importance of managed-care physician credentialing‚ (2). Explain the benefits of a prescription
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Running head: INFLUENCE OF HMO ’S HMO’s University of Phoenix Abstract The term Health Maintenance Organization (HMO) was developed in 1970 as part of the Nixon Administration to promote the growth of prepaid plans as a way to improve the nation’s health system. The Health Maintenance Organization has an appearance on the outside of being very appealing to those with little money to spend on insurance because it has a very low premium cost‚ but the truth be known that sometimes cheaper is
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which include preferred provider organizations (PPO)‚ health maintenance organizations (HMO)‚ point of service (POS). Indemnity plans cost the most for employees and they usually have to choose a PPO plan. The new consumer driven health plan (CDHP) which a lot of people are picking‚ it has a high deductible combined with a funding option of some type. All of the plans have unique features for coverage of services and financial responsibility. PPO plans are the most popular plan that doctors‚ clinics
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There are many features to go through from Private Payer Plans‚ such as Preferred Provider Organizations (PPOs)‚ Health Maintenance Organizations (HMOs)‚ Group HMOs‚ Independent Practice Association (IPA)‚ Point of Service (POS)‚ Indemnity Plans‚ and Consumer-Driven Health Plans (CDHP) such as‚ Health Reimbursement Plans‚ and Flexible Savings Accounts‚ (Bayes‚ 2008). Bayes (2008) stated “PPOs are used by hospitals‚ physicians‚ clinics‚ and pharmacies that help provide care for their insured consumers
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Organization ’s - HMO vs. PPO Angela MacLeod‚ Ifeoma Jonathan HCS-413 April 17‚ 2011 Jeffery Dodd Healthcare Organization ’s - HMO vs PPO Introduction A health care system is the organization of people‚ institutions‚ and resources to deliver health care services to meet the health needs of target populations. There are two widely known and used healthcare organizations that deliver insurance to the vast majority of the population‚ Health Maintenance Organizations (HMO) and Preferred
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managed care organizations offer a wide array of benefit designs that include HMO products‚ preferred provider organizations‚ and direct access products that allow patients to self-refer to specialists. (Sekhri‚ 1997) In practice‚ there are three different big categories; HMO‚ POS and PPO. managed care encompasses a wide range of arrangements‚ some of which resemble discounted fee-for-service (e.g.) and others (e.g. some HMOs) using capitation and ‘‘gatekeepers’’ — primary care physicians serving as
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