Managed care plans are standard among healthcare patients as they serve as medical insurance and provide treatment at reduced costs. Still, they differ in their benefits based on the medical providers or healthcare facilities that cover care’s prices for individuals. Thus, Health Maintenance Organizations (HMO) pay only for the treatment within the network, while Preferred Provider Organizations (PPO) cover a considerable amount of cost even if the care is received outside of the network (Medline Plus, 2022). The third plan, Point of Service (POS), is beneficial and most common as it allows patients to choose whether they want to continue their treatment with HMO or PPO (Medline Plus, 2022). Personally, I consider PPO to be the most convenient managed care plan since an individual can choose a primary physician, preferably within the network (Medline Plus, 2022). In addition, the patient is able to choose the preferred direction of treatment, but the cost of the care still may vary.
Moreover, people are now experiencing the benefits of value-based care, which is entirely different from the tranditional fee-for-service system. This treatment values quality over quantity of services, so patients pay for the quality of their care at healthcare institutions. The intent of value-based care is to reduce the fees for medical services and enhance the whole process of hospital stay for the patients. In other words, this concept focuses on achieving positive outcomes of the treatment for the patients instead of providing many services that are sometimes unnecessary to increase the costs for the care. Overall, value-based care is beneficial for people as they have an opportunity not only to receive high-quality treatment and medication but experience positive results and treat their diseases.
Reference
Medline Plus. (2022). Managed care. Web.