Innovation and initiatives driving HMO development

Health is always a priority, but life can be unpredictable sometimes; so having the best healthcare products and services is a must.

But not to fret, the emergence of health maintenance organizations (HMOs) has improved healthcare standards and the quality of life for countless Filipinos. Fortunately, many HMO companies are introducing innovative solutions and services, bringing improved healthcare and a worry-free life within the reach for Filipinos.

With the HMO industry constantly evolving, several innovations seen in HMO companies are potentially revolutionizing their healthcare services and wellness campaigns.

Telemedicine

The rise of telemedicine has fast-tracked healthcare practices and services in recent years. It offers a “safe, efficient, and effective healthcare solution addressing the needs of patients and the healthcare system.” Among these solutions include virtual consultations, diagnosis, remote patient monitoring, and patient care management. According to a study published by science journal publisher BioMed Central (BMC), in recent years, telemedicine has grown exponentially, meeting the healthcare needs of Filipinos, as well as expanding its reach within urban and rural areas alike.

The study also said the tool received positive outcomes during the years, having patients receive high-quality care for non-urgent conditions without the need to visit a healthcare facility, thus saving resources and alleviate unnecessary strain on the healthcare system. Moreover, it has been proven to enhance health results and decrease the chance of hospital stays and return visits.

AI healthcare technology

Artificial intelligence (AI) is another game-changer in healthcare; and in the Philippines, AI has already been revolutionizing the HMO industry. Improved service delivery, understanding patient behavior, advancements in drug development, and forecasting disease outbreaks, are some of the things that AI can do to innovate healthcare services.

Alongside patient care and treatments, AI is also a tool used for customer service. This is especially important when dealing with a high volume of queries due to long waiting times. Today, many HMO companies use AI in their operations, efficiently addressing many frequently asked questions, enabling patients to promptly receive responses without waiting for a reply through emails or phone calls. This seamless experience ensures convenient access to healthcare services and boost patient satisfaction.

With the progression of AI, the technology brings potential to unlock new opportunities, fast-tracking advancements and treatments in healthcare.

Partnerships

To continuously deliver high-quality healthcare services, partnerships are strengthening the HMO industry, promoting further resilience and innovation in healthcare solutions. Collaborative innovation efforts can bring about development of insurance products, investments, and wellness programs, tailored to the evolving needs of patients.

As partners, HMO companies can devise risk management plans, streamline payment solutions, pool and manage resources wisely, and navigate market shifts effectively. Partnerships and collaborative efforts can also elevate customer experience by figuring out more convenient ways to access health coverage products.

Promoting financial literacy

Promoting financial literacy is also essential, especially when dealing with insurance awareness and financial struggles in the Philippines. Many HMO companies are extending its financial literacy programs, equipping Filipinos with the necessary financial skills to saving and building their own wealth. Investing in insurance allows them to set up a stable financial future for themselves and for their families, protecting them against whatever comes their way, whether it’s related to healthcare or financing. — Angela Kiara S. Brillantes