ValuCare

  • #33 Meralco Ave. Brgy. San Antonio Pasig City
  • 24hrs@valuecarehealth.com
  • 24 hrs. Hotlines: (02) 8702-3310
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Why ValuCare is asking you for more information — and why it matters

Like banks and other financial institutions, health maintenance organizations are required to verify who they do business with. Here is what that means for you, and why it is a good thing.

If you recently received a form from ValuCare asking for your company’s information, you might be wondering why your HMO needs to know more about your organization. The short answer: Philippine law requires it.

In 2015, then President Benigno Aquino III signed an executive order placing HMOs under the Insurance Commission — the same body that oversees banks and insurance companies. That decision raised the bar for the entire industry. It brought HMOs under the Anti-Money Laundering Act (AMLA) of 2001, making Know Your Customer — or KYC — not just a good practice, but a legal obligation that applies to every client, whether you are new to ValuCare or have been with us for years.

“It’s about building trust and a healthcare ecosystem where every transaction is clean, every partner is verified, and every member is protected from the risks that come with financial fraud,” shares Elmer Palomata, M.D, ValuCare’s President and Chief Executive Officer

A structured compliance program in full effect

In September 2025, ValuCare’s Legal and Compliance Department conducted a two-day training for all concerned teams — covering KYC procedures and name screening protocols. Since then, the company has rolled out updated KYC questionnaire forms and a formal screening process for all accounts.

Every account — whether new or existing — is reviewed against a set of established screening lists. These include:

  1. The United Nations Sanctions List

  2. The Anti-Money Laundering Council (AMLC) Sanctions List

  3. The Politically Exposed Persons (PEP) Consolidated List

  4. Adverse news and publicly available negative reports

  5. ValuCare’s own internal watchlist

 

After screening, each account is classified as either low risk or high risk. Any match found during the process is flagged, documented, and escalated to the appropriate team for review. This ensures that no concern slips through the cracks.

Real benefits for members, clients, and the industry

Your organization is protected

 

KYC compliance shields your company from being unknowingly associated with fraudulent entities or high-risk transactions.

Your data is handled with care

 

The same standards that govern banks now apply to ValuCare. Your information is collected strictly for compliance, not for commercial use.

Transactions stay clean and secure

 

Every premium payment, claim, and financial exchange happens within a verified, transparent environment.

A healthier HMO industry overall

 

When HMOs comply with anti-money laundering laws, the entire healthcare financing sector becomes more credible and sustainable.

Compliance as a sign of a trustworthy partner

In recent years, high-profile cases of fraud and financial misuse across various industries — including healthcare — have prompted regulators in the Philippines and globally to tighten regulations. HMOs, which handle significant flows of health benefit funds, are now under the same scrutiny as banks.

According to Franz Araque, ValuCare’s Chief Operating Officer: “Being fully AMLA-compliant is not just about avoiding penalties. It is about demonstrating to every client, every member, and every partner that the company operates with integrity.”

He says that it is a commitment that the money you pay for healthcare coverage is managed responsibly — and that the organization you trust with your people’s health takes that trust seriously.

“Compliance is also practical: companies that do business with a compliant HMO reduce their own exposure to regulatory risk. Your auditors, your board, and your HR team can all point to a healthcare partner that meets legal requirements,” points out Atty. Roselle Perez, ValuCare Vice President and Head of Legal, Compliance, and Data Privacy.

ValuCare’s compliance program is ongoing. The Legal and Compliance Department continues to oversee implementation, provide guidance to internal teams, and ensure that screening and verification are done consistently across all accounts.

If you have questions about the KYC process or need help completing the required forms, please reach out to your ValuCare account manager.