The concept of managed care in has been evolving since the early 1970s and has significantly impacted the delivery of health and medical care in the United States.

Write a paper of 1,500- to 1750-words addressing the following:

• Define managed care and briefly describe the different types of managed care models.

• Assess the economic impact of implementing managed care since the introduction of the 1973 Health Maintenance Organization Act.

• Explain how consumer and provider incentives work to achieve cost reduction, improved resource allocation, and return on investment (ROI) in a managed care environment.

• Discuss the rationale and potential implications and consequences of moving from a volume-based to value-based healthcare delivery system.