PhilCare revenue seen to hit P1.3B

PhilhealthCare Inc. (PhilCare), the health maintenance organization (HMO) of the Tanco Group, expects to earn P1.3 billion in revenues this year, up from more than P900 million in 2009.

In an interview with the Inquirer, PhilCare president and chief executive Monico Jacob said the company aimed to chalk up as much as P2 billion in revenues by end-2012.

“PhilCare, when it was still under the (Philippine American Life and General Insurance Co.), used to be No. 1, but it has slipped over the years, and we’re now No. 4. We plan to regain that No. 1 position soon,” he said.

To attain this goal, he said PhilCare would continue to expand its presence in the country by putting up more company-owned clinics nationwide.

PhilCare has five company-owned clinics. The company’s hospital and clinic affiliations number more than 500, with over 10,000 accredited doctors and dentists nationwide.

While it has a significant number of accredited clinics spread nationwide, Jacob said the HMO wanted to beef up its clinic-based services for its clients.

PhilCare has a client base of more than 200,000 members and approximately 1,000 corporate accounts.

The HMO became a member of the Tanco Group in September 2009, following the signing of a share sale agreement between Philamlife and affiliate firms Philippines First Insurance Co. Inc. and the STI Group.

As part of the Tanco Group, PhilCare clients now get end-to-end healthcare services from the De Los Santos-STI Medical Center, DLS-STI College of Health Professions, De Los Santos-STI Megaclinic, and Dr. Fe Del Mundo Medical Center, in which the STI Group was a shareholder.

PhilCare is also backed by PhilFirst’s more than 100 years of experience and track record in the insurance industry.