PhilCare plan base grows 50% in H1

MANILA, Philippines - PhilhealthCare Inc. (PhilCare), the health management organization (HMO) subsidiary of Philippines First Group of Companies, has grown by 50 percent in the first six months of 2011.

Other companies under the Philippine First Group are the Philippines First Insurance Co. (PFIC) and PhilPlans Inc., (formerly known as the Philam Plans Inc.).

PhilCare senior vice president for sales and marketing Roberto Z. Arroyo said that the growth comes from relentless acquisition of new business.

“From January to June, the company was able to increase its new business portfolio by expanding its presence in large industries, SMEs, and individual plan member enrolments,” he said in a statement.

Further, he said PhilCare managed to close multi-year contracts during the period compared to the usual annual HMO membership availed of by corporate accounts, while retention of existing accounts reached almost 100 percent in relation to its peso targets.

“The company was able to surpass its revenue targets for the first half of the year,” Arroyo added.

Comprehensive HMO products that cover out-patient, emergency and hospitalization services, wellness, and preventive health care remain the top sellers among the company’s portfolio of products, which include “in-patient only availments,” pre-paid health cards and third-party administration.

PhilCare also increased its service capability by opening new clinics in Makati and Cebu. That required acapital outlay of roughly P30 million for modernization and improvement of the Makati clinic and the development of the Cebu clinic.

PhilCare presently has 200,000 individual planholders, 1,000 corporate accounts, and 200 agents.

It partners with 500 clinic and hospitals as well as four owned clinics, which will increase this year by 25 percent and 50 percent, respectively.