Triple-S Advantage HMO Medicare Offer From Triple-S Management Corporation Receives 4.5 Star Rating

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– The ratings of PPO and Pharmacy plans also increase –

San Juan, Puerto Rico, October 8, 2021 / PRNewswire / – Triple-S Management Corporation (NYSE: GTS), a leading health services companies in Porto Rico, today announced that for 2022 its Triple-S Advantage Coordinated Care Agreement (HMO H5774) has received a quality rating of 4.5 stars out of a possible maximum rating of 5 stars by the Centers for Medicare & Medicaid Services ( CMS), the regulatory agency for Medicare Advantage Plans.

In addition, its Preferred Supplier Agreement (PPO H4005) increased its quality rating to 4 stars, while Triple-S’s Part D (Pharmacy) plan for HMO and PPO contracts received a maximum rating of 5 stars.

Through these contracts and working closely with its physicians and business partners, Triple-S Management provides superior service to the more than 136,000 Medicare Advantage members they serve.

“This recognition reflects our commitment to providing excellent service to our members and other stakeholders, as well as the quality of our clinical programs which facilitate the continuity of holistic care,” said Roberto Garcia-Rodriguez, President and CEO. “Promoting longer, healthier lives is our guiding principle in all clinical and service initiatives at Triple-S Advantage. We are constantly seeking innovative benefits and services that promote better health outcomes, including attention to social factors affecting health. We also seek to improve members’ with their plans and the providers that serve them. This approach has allowed us to maintain our position of excellence.

The improved ratings are further validation of the company’s efforts throughout the pandemic. Triple-S Advantage has redoubled its efforts to provide and facilitate access to health services and tackle social factors during one of the country’s most serious public health crises.

“Not only have we met the strict requirements of CMS, but we have also extended telemedicine services, facilitated the delivery of food for nearly 44,000 of our most vulnerable members, and covered the cost of delivering prepared food. others. We also made it easier to manage and receive their prescriptions and over-the-counter medications, ”added Garcia-Rodriguez.

The CMS Star Rating System reflects the quality of care a member receives, as well as the level of satisfaction with their plan. It considers measures such as preventive screening, management of chronic diseases, such as diabetes and hypertension; prevention of falls; hospital readmissions; and members’ level of adherence to drug therapy, among others. Each year, CMS compiles this data and based on it, assigns a rating of one to five stars, with 1 star being poor performance and 5 stars being exceptional service.

About the Triple-S management company

Triple-S Management, a healthcare services company, serves over one million clients in Porto Rico, which represents nearly a third of the island’s population. With over 60 years of experience, it is the leading insurance and managed care brand, with the largest customer base and the most extensive supplier networks on the island. Triple-S Management has the exclusive right to use the Blue Cross Blue Shield name and brand throughout Porto Rico, the US Virgin Islands, Costa Rica, the British Virgin Islands and Anguilla, and offers a broad portfolio of managed care and related products in the commercial, Medicare Advantage and Medicaid segments. Triple-S Management is also a recognized brand in the life insurance and property & casualty insurance segments in Porto Rico, with strong customer relationships and a significant market share. For more information on Triple-S management, visit www.triplesmanagement.com or contact [email protected]

Forward-looking statements

This document contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information about possible or suspected future sales, results of operations, developments, regulatory or other approvals. circumstances. Sentences that include “believe”, “expect”, “plan”, “intend”, “estimate”, “anticipate”, “plan”, “can”, “can”, “must”, “Should” and similar expressions, whether positive or negative, are intended to identify forward-looking statements.

All forward-looking statements contained in this press release reflect the current views of management on future events and are based on assumptions and are subject to risks and uncertainties. Therefore, actual results may differ materially from those expressed herein due to various factors, including any risks discussed and identified in public documents filed with the United States Securities and Exchange Commission (SEC).

In addition, the Company operates in a highly competitive and constantly changing environment, influenced by very large organizations resulting from business combinations, aggressive marketing and pricing practices of competitors and regulatory oversight. The following factors, if they differ materially from the Company’s planning assumptions (individually or in combination), could cause Triple-S Management’s results to differ materially from those expressed in the forward-looking statements shared here:

  • Trends in health care costs and utilization rates

  • Ability to obtain sufficient increases in premium rates

  • Competitor pricing below market trends for increasing costs

  • Re-estimates of policy and contract liabilities and reserves

  • Changes in government laws and regulations relating to care management, life insurance or property and casualty insurance

  • Significant acquisitions or disposals by major competitors

  • Introduction and use of new prescription drugs and new technologies

  • A deterioration in the Company’s financial strength ratings

  • Litigation or Legislation Involving Managed Care, Life Insurance, or P&C Insurance Companies

  • Ability to contract with providers and government agencies in accordance with past practices

  • Ability to successfully implement the company’s disease management, utilization management and star rating programs

  • Ability to maintain federal employee contracts, Medicare and Medicaid

  • Volatility of securities markets and investment losses and defaults

  • General economic downturns, major disasters and epidemics

This list is not exhaustive. Management believes that the forward-looking statements contained in this press release are reasonable. However, there can be no assurance that the actions, events or results anticipated by forward-looking statements will occur or, if so, what impact they will have on the results of operations or the financial condition of the Company. In view of these uncertainties, investors should not place undue reliance on forward-looking statements, which are based on current expectations. In addition, forward-looking statements are based on information available on the day they are made, and (except as required by applicable law, including securities laws of United States) the Company does not intend to update or revise any of them in the light of new information or future events.

Readers are encouraged to carefully review and consider the various information contained in the Company’s SEC reports.

FOR MORE INFORMATION:

IN THE BUSINESS:

RELATIONS WITH INVESTORS:

Victor J. Haddock-Morales

Mr. Garrett Edson

Executive Vice President and Chief Financial Officer

RIC

(787) 749-4949

(787) 792-6488

Cision

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Management company SOURCE Triple-S


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