HEALTH maintenance organization (HMO) Philhealthcare Inc. (PhilCare) reported an increase of 20.9 percent in net income to P130.6 million in 2019 from P108 million in 2018 on the back of strong market reception, improved transactions and introduction of new sales instruments.
The company’s annual financial statement, likewise, showed growth in revenues at 15.8 percent from P2.31 billion to P2.68 billion year-on-year.
“We are really happy that our efforts in 2019 bore fruit, from the aggressive sales of our innovative products like our prepaid health cards to the new partnerships we formed and the new sales channels that we have opened. All these have contributed significantly to the increase of our bottom line,” said PhilCare President and Chief Executive Officer Jaeger L. Tanco.
According to him, the health maintenance organization has blazed a trail the use of prepaid health cards in the market.
“This was the result of our first Wellness Index done back in 2014. We learned back then a lot of Filipinos did not have access to health-care coverage because they didn’t have corporate health benefits. We, then, decided to develop sachet-type products that are more accessible and affordable, and it truly made a difference,” he explained.
Currently, the firm is taking on new innovations by leveraging on technology that enhance the delivery of quality health care to the public.
DigiMed service, for instance, is a kind of medical teleconsult that will make a more pronounced impact as the country now embraces the new normal amid the coronavirus disease 2019 pandemic.
To date, this offering on the HeyPhil application has received around 1,500 digital consultations a month.
It has also recently launched DigiMed PLUS, a web-based telemedicine app that allows members’ access to numerous specialists via video call.
“It is with great confidence that we assure our members, partners, and stakeholders that regardless of the present economic condition, PhilCare has remained resilient and we continue to be steadfast in our commitment to provide the quality of health care and service that we have been known to deliver,” Tanco said.
“PhilCare has always been a company that takes pride in being at the helm of innovation. As the nation gradually prepares itself for the new normal, we continue to gain momentum, seeking for opportune possibilities to leverage change to our advantage, as we dedicate ourselves in fulfilling our mission of making quality health-care services available to every Filipino,” he added.
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