What is a ''physiological'' third stage of labor?

See below: Physiologic third stage of labor means no Pitocin (oxytocin) after the baby is born, no cord traction, no early clamping of the cord. Postpartum hemorrhage is a serious problem and occurs most often in low risk women. Pph hemorrhage rates have been shown to be higher when physiologic management of third stage is employed rather than active management.

Labor: Your third stage of labor begins once your baby is born and ends when you deliver the placenta. You can choose to have either a physiological (or natural) third stage or an actively managed third stage. A physiological third stage means that you wait for the placenta to be delivered naturally.