Since it was inspired by Bernard and developed and named by Cannon, the concept of homeostasis has been invoked by many as the central theoretical framework for physiology. It has also been the target of numerous criticisms that have elicited the introduction of a plethora of alternative concepts. We argue that many of the criticisms actually target the more restrictive account of homeostasis advanced by the cyberneticists. What was crucial to Bernard and Cannon was a focus on the maintenance of the organism as the goal of physiological regulation. We analyse how Bernard's and Cannon's broad conception of what was required to maintain the organism was narrowed to negative feedback, characterized in terms of setpoints, by the cyberneticists and demonstrate how many of the alternative concepts challenge the role of setpoints – treating them as variable in light of circumstances or in anticipation of future circumstances, or as dispensable altogether. To support our analysis, we draw on the experimental and theoretical work on thermoregulation, a phenomenon that has been considered as a paradigmatic example of homeostasis and has been a common focus of those advancing alternative concepts. To integrate the insights advanced by the original proponents of homeostasis and the theorists proposing replacement notions we advance a framework in which regulation is viewed from the perspective of maintaining the organism.