Word: hmos
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Dates: during 1980-1989
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Many communities are trying out so-called health maintenance organizations, or HMOs. These charge patients an annual membership premium of perhaps $1,900 and set strict fee schedules that participating physicians must abide by to get reimbursed...
Even as medical bills climb, 277 so-called health maintenance organizations (HMOs) are managing to keep their members healthy and out of the poorhouse to boot. HMOs are group-practice health plans in which a family pays a flat fee of, say, $160 per month, and in return is provided with comprehensive medical care, ranging from doctors' visits to heart surgery. The idea behind the plans is to reduce costs by making doctors and administrators accountable for healthcare expenditures...
...HMOs, compensation to doctors for their services comes directly from the administrative office instead of the patient. Some HMOs automatically withhold a portion of medical fees and keep the funds in escrow until year's end. Then, if there is a surplus, participating physicians may get raises or bonuses. Doctors are subject to continuing scrutiny by their fellow physicians to ensure that they avoid expensive diagnostic tests that are not required. This encourages them to prescribe only what is necessary, thereby helping to hold down costs for everyone...