Discuss the HMO act of 1973 Research Assignment Paper (Essay Sample)
Please read the Internet link regarding the HMO act of 1973 then perform your own Internet search for further information. Please summarize the legislation and specify key points of the Act. Also, please research and detail why this Act was so important to President Nixon and discuss how the Act supports our MCO models today? You must cite your reference(s).
TEXTBOOK: Shi, L., and Singh, D. A. (2015). Beliefs, Values, and Health. In C. Falivene (Ed.) and N. Alakel (Ed.),Delivering Health Care in America A Systems Approach (pp ). Burlington,MA: Jones & Bartlett Learning.
HMO ACT OF 1973
Beliefs and culture in America have influenced the health care programs that are predominantly privately financed (Shi & Singh, 2015). The Health Maintenance Organization Act (HMO Act of 1973) was enacted to improve the delivery of patient care and control costs. The HMOs are managed care organizations, which enroll employees in health plans where there are contractual agreements with the providers and not the traditional insurance companies (Shi & Singh). The Act established conditions to operationalized HMOs that qualified for loan guarantees. The qualified HMOs also met quality assurance and solvency standards and employers offered health benefits to employees depending on their choice of benefit plan.
The Act also contained provisions health maintenance organizations were to provide fiscally sound operations to avoid insolvency while assuming the full financial risk (enotes.com, n.d.). The enrollees to the organizations were broadly representative of the population, with open enrollment being supported. The HMO Act further highlighted that the health maintenance organization were to allow potentia...
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