What is Managed Care?

What is Managed Care?
Simply put:

A healthcare delivery system which purpose for managed care plans is to reduce the cost of healthcare services by stimulating competition and streamlining administration and where patients agree to visit only certain doctors and hospitals, and in which the cost of treatment is monitored by a managing company.
Managed care plans are a type of health insurance.
They have contracts with health care providers and medical facilities to provide care for members at reduced costs.
These providers make up the plan's network. ... Point of Service (POS) plans let you choose between an HMO or a PPO each time you need care.
Simply stated, managed care is a system that integrates the financing and delivery of appropriate health care using a comprehensive set of services.
Managed care is any method of organizing health care providers to achieve the dual goals of controlling health care costs and managing quality of care

Benefits of Managed Care:
The most common forms of managed care providers are Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs) and Point-of-Service Plans (POS).
They all come with their various pros and cons. Obviously, the first and main advantage of managed health care is the lower costs associated with them.