Philippines: leading HMOs by revenue 2023 | Statista (2024)

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Philippines: leading HMOs by revenue 2023 | Statista? ›

Major health maintenance companies Philippines Q4 2023, by revenue. As of the fourth quarter of 2023, Maxicare HealthCare Corporation was the leading health maintenance organization (HMO) in the Philippines, with revenues amounting to approximately 26 billion Philippine pesos.

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As of December 31, 2023, Sun Life of Canada was the leading life insurance company in the Philippines in terms of total assets. As of this date, the insurance company has total assets of 306 billion Philippine pesos. This was followed by AIA Philippines Life and General Insurance Co.

The five largest health insurance companies are UnitedHealth Group, Anthem, Kaiser Permanente, Ambetter and Humana. Currently insured? No spam. No hassle.

There were 29 licensed Health Maintenance Organizations (HMOs) in the Philippines in 2022, reflecting a decrease from the prior years.

Maxicare, Medicard, and Intellicare are a few of the top private health insurance providers in the Philippines. These businesses provide a selection of healthcare plans that are specifically designed to satisfy the requirements of various people, families, and business clients.

MediCard was fully acquired by the AIA Group early this year. “I have spent the past few months working closely with Julian and I am confident I am leaving MediCard in the capable hands of someone who understands the needs of the business,” shared MediCard Philippines Chief Executive Officer Dr Nicky Montoya.

Leading the list is Pru Life Insurance Corporation of the UK, which recorded the highest NBAPE of PHP10. 54 billion for 2023. This marks an 11% growth from the previous year, solidifying Pru Life UK's position as the top life insurer in the Philippines.

Founded on March 20, 1978, Cocolife has since become the country's number one Filipino-owned stock life insurance company. It has also made its mark in the industry by carving an unimpeachable position as the number one Group Insurance Provider.

Currently AIA Philippines ranks 4th in the market with 11.1% market share on employee benefits. Note: 1 Based on the 2021 annual accounts Securities and Exchange Commission (SEC) filing.

What are the 4 types of HMOs? ›

There are four types of HMOs: staff model, group model, network model, and independent practice association. HMOs offer excellent services but mostly for in-network options. HMOs are on par with deductibles and copayments compared to other types of insurance.

Fucosylated HMOs include 2′-fucosyllactose (2′-FL), while non-fucosylated neutral HMOs include lacto-N-neotetraose (LNnT). The neutral HMOs account for more than 75% of the total HMOs in the human breast milk. The most abundant HMO is the 2′-FL, which constitutes nearly 30% of the total HMOs among secretor mothers.

On major disadvantage is that it is difficult to get any specialized care because the members must get a referral first. Any kind of care that is sought that is not a referral or an emergency is not covered.

As of the fourth quarter of 2023, Maxicare HealthCare Corporation was the leading health maintenance organization (HMO) in the Philippines, with revenues amounting to approximately 26 billion Philippine pesos.

Private health insurance offers flexibility and coverage tailored to your needs. On the other hand, HMOs provide a more structured approach to healthcare, often with lower upfront costs and a focus on preventive care.

EMR Philippines, Healthgrades, and Care360 are all leading providers of health information systems in the Philippines. All three companies offer a wide range of health information system products, including electronic health records, practice management software, and health information exchange solutions.

The Department of Health (DOH) is mandated to be the over-all technical authority on health.

In the network model, an HMO can contract with any number of agencies and any combination of independent groups. This is the most common HMO model today. The HMO can contract with groups and individual physicians as part of their network package.

HMO plans typically have lower monthly premiums. You can also expect to pay less out of pocket. PPOs tend to have higher monthly premiums in exchange for the flexibility to use providers both in and out of network without a referral. Out-of-pocket medical costs can also run higher with a PPO plan.