Company type | Mutual |
---|---|
Industry | Health insurance |
Founded | 1934 |
Headquarters | Cleveland, Ohio, United States |
Key people | Steven C. Glass President and CEO [1] |
Products | supplemental health and life insurance |
Revenue | $2.0 billion (2008) |
Number of employees | 2,500 (2013) |
Website | Medmutual.com |
Medical Mutual of Ohio (MMOH) is an American mutual health insurance company. It is the oldest and largest health insurance company based in Cleveland, Ohio, and serves more than 1.6 million customers. [2] Employing 2,500 people, Medical Mutual is one of the biggest employers in downtown Cleveland. [3]
Headquartered in Cleveland's historic Rose Building, the company also has statewide offices in Cincinnati, Columbus, Dayton, Independence, Richfield, Toledo and Youngstown, as well as an information systems facility in Beachwood. [4] In 2019, Medical Mutual of Ohio ranked 718 out of the top 1,000 corporations in America. [5]
Headquartered in downtown Cleveland, Ohio, Medical Mutual of Ohio operates in the historic Rose Building. The Rose Building was erected in 1900 and "its innovative steel-frame structure was one of the first in Cleveland." [6] Meant to house dentists' offices, the Rose Building had almost 100 dentist tenants by 1902.[ citation needed ]
In 1926, Elyria Memorial Hospital administrator John R. Mannix began experimenting with the idea of hospital pre-payment and the basic principles of insurance, eventually leading to the formation of the Cleveland Hospital Service Association in 1934. At this time, hospital associations such as the CHSA became known as Blue Cross Plans. In 1939, Blue Cross Plans united to form the Blue Cross Association [7]
In 1956, Medical Mutual of Cleveland was formed to provide coverage for doctor fees. CHSA merged with Akron Hospital Service to form Blue Cross of Northeast Ohio in 1957, and four years later, Medical Mutual of Cleveland became affiliated with the Blue Shield system.
In 1984, Blue Cross of Northeast Ohio and Medical Mutual of Cleveland merged to form Blue Cross and Blue Shield of Northern Ohio. Two years after the merger, the new company joined Blue Cross and Blue Shield of Northwest Ohio to form Blue Cross and Blue Shield of Ohio. [8]
In 1997, the company left the Blue Cross/Blue Shield Association and re-claimed the name of one of its predecessors, becoming the present day Medical Mutual of Ohio. [9]
Rick Chiricosta, [14] born February 23, 1956, is chairman, president, and chief executive officer of Medical Mutual of Ohio. [15] He will retire at the end of 2022. [16]
Medical Mutual is the "Official Health Insurer" of a variety of organizations. Medical Mutual insures numerous professional sports teams, including the Cleveland Cavaliers, Cleveland Indians, Cincinnati Bengals and Columbus Blue Jackets. Besides professional teams, the company is also the official insurer of numerous colleges and universities and local organizations, like the Rock and Roll Hall of Fame and Museum.[ citation needed ]
In May 2022, Medical Mutual announced a $1 million donation to Cuyahoga Community College Foundation to address the immediate needs of Tri-C students. The donation aims to support a three-part initiative, using funding to establish the Medical Mutual Workforce Training Endowed Scholarship, the Medical Mutual Student Response Endowment Fund and support the expansion of the Western Campus Food Pantry. [17]
In the United States, a health maintenance organization (HMO) is a medical insurance group that provides health services for a fixed annual fee. It is an organization that provides or arranges managed care for health insurance, self-funded health care benefit plans, individuals, and other entities, acting as a liaison with health care providers on a prepaid basis. The US Health Maintenance Organization Act of 1973 required employers with 25 or more employees to offer federally certified HMO options if the employer offers traditional healthcare options. Unlike traditional indemnity insurance, an HMO covers care rendered by those doctors and other professionals who have agreed by contract to treat patients in accordance with the HMO's guidelines and restrictions in exchange for a steady stream of customers. HMOs cover emergency care regardless of the health care provider's contracted status.
The term managed care or managed healthcare is used in the United States to describe a group of activities intended to reduce the cost of providing health care and providing American health insurance while improving the quality of that care. It has become the predominant system of delivering and receiving American health care since its implementation in the early 1980s, and has been largely unaffected by the Affordable Care Act of 2010.
...intended to reduce unnecessary health care costs through a variety of mechanisms, including: economic incentives for physicians and patients to select less costly forms of care; programs for reviewing the medical necessity of specific services; increased beneficiary cost sharing; controls on inpatient admissions and lengths of stay; the establishment of cost-sharing incentives for outpatient surgery; selective contracting with health care providers; and the intensive management of high-cost health care cases. The programs may be provided in a variety of settings, such as Health Maintenance Organizations and Preferred Provider Organizations.
In U.S. health insurance, a preferred provider organization (PPO), sometimes referred to as a participating provider organization or preferred provider option, is a managed care organization of medical doctors, hospitals, and other health care providers who have agreed with an insurer or a third-party administrator to provide health care at reduced rates to the insurer's or administrator's clients.
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The Council for Affordable Quality Healthcare, Inc. (CAQH) is a non-profit organization incorporated in California as a mutual benefit corporation. It was first incorporated under the name Coalition for Affordable, Quality Healthcare, Inc., and then renamed the Council for Affordable Quality Healthcare, Inc. on August 8, 2002. It is based in Washington, D.C. Previously a 501(c)(6) tax-exempt organization, CAQH changed its tax status in 2016, although it remains a non-profit.
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Blue Cross and Blue Shield of Kansas City is an independent licensee of the Blue Cross Blue Shield Association and a not-for-profit health insurance provider with more than one million members. Founded in 1938, Blue KC offers healthcare, dental, life insurance and Medicare coverage. Headquartered in Kansas City, Missouri, the company serves 30 counties in northwest Missouri, and Johnson and Wyandotte counties in Kansas.
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