What is the difference between an HMO and a MCO?

Difference between HMO (Health Maintenance Organization) and MCO (Managed Care Organization) is that in HMO where the insurance creates an network of providers termed PCPs (Primary Care Physicians), but in the case of MCO the health care provider or group of medical service provider who contract with insurers or self-insured employers to provide the wide variety of managed helath care services.