“And while most HMOs have had to deal with COVID-19 patients’ cost for which were almost always maxed out to the HMO planholder’s maximum benefit limit, there was a temporary lull in outpatient availments for which the industry is seeing a slow return to normal with elective surgeries and the like now being arranged in most facilities.
As such, Da Silva said “under a COVID-19 environment which is expected to persist perhaps until the end of the year or beyond, 2020 is undoubtedly going to be a very difficult year for most businesses, the HMO industry included.”reported that the HMO industry’s net income dipped by nearly a fourth to P1.26 billion last year, which the regulator attributed to an increase in healthcare benefits and claims paid by HMOs to a growing number of enrollees.
Despite these challenges, Da Silva said the HMO industry in general, and AHMOPI in particular, remained “confident that there will still be a respectable growth in membership revenues in 2020, a closely similar medical expense figure as that of 2019, and an uptick in net income after tax.” AHMOPI counts more than 1,700 institutional healthcare providers and 40,000 accredited medical specialists nationwide among its members.