THE health maintenance organization (HMO) industry saw its net income surge to P579.39 million in the first quarter from P6.78 million in the same period last year, data from the Insurance Commission (IC) showed.
The increase was attributed to the 26.15% increase in membership fee collections in the period, which accounted for 97.52% of the total revenues of the industry, according to data based on the unaudited financial statements submitted by 28 HMOs, up from the 24 submissions in the same period in 2024.
The growth in membership fees was driven by qualified government employees availing of the P7,000 medical allowance as part of their coverage, the IC said.
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