health maintenance organization - Investment & Finance Definition
An insurance company that provides a range of services and coverage for a flat monthly fee with no deductible. The HMO network requires that patients use only doctors in the HMO network. If patients use out-of-network doctors, the patient has to shoulder a greater proportion of the expense. Visits to specialists or hospitals have to be approved in advance by either the HMO staff or the insured’s primary care physician.