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HMOs pay out more healthcare benefits and claims, dragging sector’s earnings - BusinessWorld Online

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HEALTH maintenance organizations (HMOs) paid out 22.43% more healthcare benefits and claims in the first quarter versus the same period last year, putting a dent on their total earnings. READ:

October 12, 2022 | 12:01 amrst quarter versus the same period last year, putting a dent on their total earnings.ts and claims paid by the HMO industry amounted to P9.48 billion in therst quarter, rising from the P7.74 billion seen in the same period in 2021, based on the unaudited interim financial statements submitted by 30 companies.

“Despite the year-on-year growth of the industry’s ‘Financial Assets at FVPL’ and ‘Investment Property,’ a huge decline by 52.50% in ‘Cash Equivalents’ was observed in Q1 2022 amounting to P3.6 billion; thus, the HMO industry’s Total Invested Assets decreased by 1.36%,” Mr. Funa said.rst quarter of the year to 6.09% and 4.17% , respectively.

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