Provider Sponsored Organizations (PSOs) are a specific type of healthcare entity that combines the roles of both an insurance provider and a healthcare provider. PSOs are typically organized and operated by healthcare providers, such as hospitals, physician groups, or health systems, with the goal of offering comprehensive and integrated healthcare services to a defined population.
PSOs function as a managed care organization, meaning they are responsible for both financing and delivering healthcare services to their members. They enter into contracts with insurance companies or government programs, such as Medicare or Medicaid, to provide coverage to their enrollees. This allows them to assume financial risk while also being responsible for the coordination and delivery of healthcare services.
One key characteristic of PSOs is their focus on integrating care across multiple healthcare settings. They strive to provide a seamless experience for their members by coordinating and managing various aspects of their healthcare, including primary care, specialty care, hospital services, and other ancillary services. This coordination aims to improve the quality of care, enhance patient outcomes, and control healthcare costs.
PSOs often employ various strategies to achieve these objectives, such as implementing care management programs, utilizing health information technology for better care coordination, and establishing partnerships with other healthcare entities to ensure a comprehensive network of providers and services.
In summary, Provider Sponsored Organizations are healthcare entities operated by healthcare providers, offering both financing and delivery of healthcare services. They strive to integrate care and improve patient outcomes while assuming financial risk through contracts with insurance companies or government programs.
