SMEs, overseas workers to boost HMO sales

MAXICARE HEALTHCARE Corp., a health care management organization (HMO), is looking to boost membership to at least a million registrants within two years as it upgrades facilities and expands networks, ranking officials yesterday said.

“By 2013, we are looking at a one-million membership target,” said Jose Pastor Z. Puno, Maxicare president and chief executive said in a press launch of the company’s new corporate headquarters in Makati City.

The new facility consolidates the firm’s operations under one roof,
At present, the company serves more than 600,000 members nationwide.

The company’s future growth will be driven by the health coverage purchased by small-to-medium enterprises (SMEs) for their employees, a market which currently account for around 20% of the Maxicare’s plans, Mr. Puno said.

Further, the company is looking to attract overseas Filipino workers (OFWs) to avail themselves of the health plans.

“There are still a lot of areas that we have to tap. OFWs are a lucrative source, and we have been looking at that market for a long time,” Mr. Puno said.

“OFWs have priorities, they provide for the basic requirement for their families, and one of them is healthcare. Hopefully, in time, we will be able to develop that market,” he added.

In addition to its flagship HMO service for corporate clients and SMEs , Maxicare offers an array of plans for families and individuals, and an plan to be used solely for emergency purposes.

The company said future growth will also be boosted by its vast network of providers, its seven customer care and 11 primary care centers, and a comprehensive health program.

“We have achieved great success over the years and in our upcoming 25th anniversary next year, we want to ensure that we will continue to provide the best healthcare program to our current and prospective members. That is why we have been enhancing our service offerings and upgrading our facilities,” Mr. Puno added.

But despite its reported leadership in the HMO industry, the company is not eyeing a public listing yet.

“It’s not really a big issue for us. We know that the company is ripe for an IPO (initial public offering), but at this point, it is not a priority,” Mr. Puno said.

Maxicare, established in 1987, claims to have served over 800 corporations along with SMEs, individuals and families, who together account for 600,000 card holders at present.

Further, it has a network of over 25,000 doctors, 3,700 dental providers and 950 hospitals and clinics nationwide, 65% of which are tertiary institutions.

The company incurred P76 million in net income last year, with P3.63 billion in earned membership fee revenues, according to a press statement.

Maxicare is a member firm of the Equicom Group. -- FJGDLF

The actual article can be viewed here

http://www.bworldonline.com/content.php?section=Corporate&title=SMEs,-overseas-workers-to-boost-HMO-sales&id=41680

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