These projects are in the areas of health education, health care delivery, and medical research.” The return is measured by the many worthwhile projects supported by the PSI Foundation that result in scholarly publications. David McNeely: “The grants awarded are looked upon as investments to improve the healthcare of the people of Ontario. Today, after 23 years in operation, the PSI Foundation has more than lived up to its original mandate, the advancement of the state of knowledge of a particular disease, the increase in the physicians’ ability to ease the suffering of a patient, and improved access to medical care by patients. During the same period, the Foundation has expanded on granting activities over 44 million. The original donated capital of 16.7 million dollars has grown to 65 million dollars. And this concern carries on even to this day through the men and women now serving on the Board of Directors. “ Arthur Bond: “The doctors who initiated the foundation had a deep regard and concern for their fellow men. With a substantial amount of money remaining in the fund, the 7,250 participating doctors decided to establish a foundation, the income of which would be applied to charitable activities within the health field, The Physicians’ Services Incorporated Foundation. Unfortunately, the end of PSI as a medical plan came in 1969, when the present day OHIP came into being, with legislation prohibiting any other carriers to provide coverage for physician services. His dedication, enthusiasm, and eye for detail were important assets that helped PSI to grow for nearly 22 years of enjoyed overwhelming success and became the largest pre-paid medical plan in Canada. A brilliant organizer, he had a special talent for selecting outstanding executives, people like Stewart Major, the first and only general manager of PSI. Watson, the first president of PSI, was a man of great character, integrity, and vision.
This was due in large measure to the acumen of the management and people who worked with them. They deserve a great deal of credit for its success.įrom the beginning, there never was any doubt about its success. Without their cooperation, sense of responsibility, and fairness, there could not have been a PSI. The participating physicians, your senior colleagues, were the cornerstone of the corporation. On the human side, it presented a unique challenge for the medical profession to make a real contribution here in Ontario.
#PSI INSURANCE WHICH HOSPITAL PROFESSIONAL#
To the profession, PSI offered doctors an opportunity to retain control of their business and professional affairs, while leaving the doctor-patient relationship undisturbed. It provided unlike insurance companies, a service contract with subscribers, which guaranteed the payment of medical services. They wanted to provide comprehensive medical care at a price public could afford and by a method of payment that was convenient and suitable.Ĭreated by the OMA, PSI was operated as a non-profit, independent corporation with its own charter, president, board of directors, and council. Doctors in Ontario decided to take action. The times urgently called for a new approach. Physicians’ Services Incorporated, PSI as it would come to be known, opened its doors in November 1947. It started as a simple idea, and soon grew in a short time to become a phenomenon.
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