COOP

1Coop Health marks decade of cooperative excellence in healthcare

June 11, 2024 Marlon Purification 186 views

THE 1Coop Heath celebrated its tenth anniversary celebration recently.

1 Coop Health is a federation of 264 strong cooperatives, some of them are billionaires led by ACDI Multi-Purpose Cooperative with an inspiring stories of success.

The celebration of 1Coop Health reminded me of the crucial role this organization plays in supporting the government’s mission to provide accessible, timely, and quality healthcare services to the Filipino people. In a country where healthcare accessibility and affordability remain pressing issues, 1Coop Health has emerged as a beacon of hope, demonstrating how the cooperative model can effectively address these challenges.

At the recent General Assembly held in Quezon City, Retired Major General Gilbert S. Llanto, incumbent chairman, presented an inspiring Chairman’s Report for CY 2023.

He highlighted the significant growth of 1Coop Health, emphasizing the federation’s unwavering commitment to revolutionizing healthcare access, quality, and cost. The essence of cooperative healthcare was clear: to ensure that all members receive equitable healthcare services, regardless of their economic status.

Established in July 2014 by 13 founding members, 1Coop Health set out with a clear mission: to prioritize the well-being of cooperative members. From an initial share capital of P25 million, the federation’s capital has surged to P203.30 million by the end of 2023.

This growth is not merely a financial achievement but a testament to the dedication and hard work of its officers and members headed by its Chairman, Ret Major General Gilbert Llanto, highlighting that success in the cooperative sector transcends monetary gains.

Cooperative Model: A Pillar of Healthcare Accessibility

The cooperative model, as exemplified by 1Coop Health, is instrumental in supporting the government’s healthcare programs. By pooling resources and working collaboratively, cooperatives can make healthcare more affordable and accessible.

This model empowers member cooperatives to participate actively in the healthcare system, ensuring that services are not only affordable but also tailored to meet the needs of their communities.

In 2023 alone, membership in 1Coop Health increased to 264 cooperatives, covering a total of 72,779 served cooperative individual members. This growth led to significant financial milestones, with total assets reaching P515.82 million and service revenue accumulating to P289.28 million, resulting in a net surplus of P12.34 million.

These figures underscore the federation’s capacity to deliver on its promise of accessible and affordable healthcare.

Innovations and Future Plans

1Coop Health’s commitment to innovation is evident in its plans to launch a collaborative web platform designed to streamline membership and enrollment processes.

This initiative aims to ensure that every member receives the necessary attention, thereby enhancing the overall efficiency and effectiveness of healthcare delivery.

The federation’s introduction of a 24-hour customer assistance program further underscores its dedication to providing timely support and necessary assistance to its members. This program is a significant step toward ensuring that members have access to healthcare services whenever they need them, a critical component of quality healthcare.

Furthermore, the 1Coop Health Scholarship Program, launched in 2023, is an excellent example of how cooperatives can invest in the future of healthcare. By supporting eight qualifying students in completing their university studies, 1Coop Health is preparing the next generation of medical professionals who will uphold the principles of excellence and compassion.

Commitment to Inclusivity and Expansion

Inclusivity remains a cornerstone of 1Coop Health’s mission.

The federation’s Gender and Development Policy aims to reduce gender gaps in healthcare access, ensuring that services are inclusive and equitable. This commitment to inclusivity is vital in a diverse society where healthcare needs vary widely across different demographic groups.

Looking ahead, 1Coop Health has ambitious plans for expansion. With goals to establish a hospital in Mindanao and acquire another in Quezon City through a partnership with MMG Qatar, the federation aims to extend its reach and influence. By increasing cooperative membership to 364 by the end of 2024 and aiming for 1,055 cooperatives by 2028, 1Coop Health is set to promote proactive outreach and community participation.

Financial Projections and Future Goals

Financial projections for 2024 include generating P381.66 million in revenue and having assets of P642.97 million. By 2028, the federation aspires to achieve P1.67 billion in revenue and P1.18 billion in assets, setting its sights on becoming a billionaire cooperative in the Philippines. These projections reflect a bold vision for the future, one where cooperative healthcare continues to thrive and expand.

A Promising Future

Maj. Gen. Llanto concluded his report by emphasizing the importance of cooperative collaboration and knowledge exchange to drive innovation in the healthcare sector. He expressed gratitude to the members, partners, and stakeholders for their ongoing support, acknowledging that the strength of 1Coop Health lies in its collective effort.

As we celebrate a decade of transformative healthcare, it is clear that 1Coop Health is not just a cooperative but a movement. A movement that embodies the spirit of cooperation, resilience, and a steadfast commitment to making quality healthcare accessible and affordable to all Filipinos. As the federation moves forward with ambitious goals and strategic initiatives, we can look forward to a future where cooperative healthcare continues to transform lives, ensuring continued growth and success for the cooperative federation.