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
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