Final answer:
An All-payer or Single-payer system has centralized control, usually managed by the government. Such a system sets standardized costs for services, differing from fee-for-service and HMO approaches, and aims to provide universal health coverage and cost containment.
Step-by-step explanation:
An All-payer or Single-payer system typically involves centralized control, with the government playing a prominent role in the management of health care services. In such systems, one entity, usually the state, sets the costs for health care services, and all providers and payers (often the government itself) abide by these set fees. This contrasts with a fee-for-service system or arrangements involving health maintenance organizations (HMOs), which have different payment structures and often result in a more fragmented control over health care management and costs.
Single Payer systems, like those in the United Kingdom and Canada, prioritize equal access to healthcare over the competitive market dynamics of private insurance which can lead to adverse selection and uneven distribution of care. They aim to provide universal coverage and control costs, contrary to the U.S. system where high costs and unequal access are persistent challenges. However, Single Payer systems may also face obstacles in providing rapid access to care and cutting-edge medical treatments.