The Medical City on Track to Record 2019 Results

The Medical City (TMC) forecast record-breaking revenue of P6 Billion for its main hospital, for the year ending 2019. TMC’s management team also showed a growth rate four times higher than the previous administration, while getting customer satisfaction scores 40% higher than forecast. “The excellent results of our collective work in the past year show how empowered teamwork and focus can do wonders for our institution, our patient partners, our doctors, and our staff,” explained CEO Dr. Eugenio Jose F. Ramos. “The increased revenue is yet another sign that re-booting The Medical City has worked. But our more important accomplishments revolve around the positive outcomes of our patients, and we are proud of these more than anything else.”

Chief among The Medical City’s medical achievements this year is a remarkable 97% success rate for bone marrow transplants, and a high 90% survival rate. It is also scoring outcomes comparable to the world’s best hospitals with its liver transplants, running at a 73.3% success rate. “Working in and for The Medical City in the past year has given us renewed purpose, pleasure and pride,” says Dr. Ramos. In the past year alone, TMC has launched 14 new products and services, while investing heavily in new equipment, including the country’s only Intra-Operative Radiation Therapy (IORT) in a tertiary hospital. 

TMC Board Chairman Jose Xavier ‘Eckie’ Gonzales cited the performance of TMC’s management and staff for the turn-around. “I was optimistic that we could, with better management, achieve the full potential of TMC. Seeing the results further gives us confidence that we are on the right track when it comes to not just financial performance but operational excellence across the network.”

TMC Chief Financial Officer Michael Pineda reported that, aside from TMC Main, all hospitals across the network including TMC Clark, Iloilo, South Luzon, and Pangasinan, showed growth and improvement. “We are seeing revenues up more than 8% over the previous year for all our hospitals,” said Pineda. “Meanwhile, TMC Main’s increased focus on managing costs and driving productivity resulted in improved operating margins.”

The turn-around and the improvements in performance are all the more striking considering the shareholder difficulties that faced TMC in 2018, which resulted in a new board being voted in by doctor-shareholders working hand-in-hand with institutional shareholders. The resulting changes implemented by Dr. Ramos focused on TMC’s transformation to innovation-driven business growth and brought about a change in culture that empowered teamwork and respect for new ideas and new ways of doing things.

The Medical City is only one of a handful of JCI-accredited hospitals operating in the Philippines. Its hospital network includes 5 tertiary hospitals in the Philippines and one in Guam, along with more than 50 clinics all over the Philippines. It has a medical staff of 3,000 physicians supported by over 7,00 support staff. It has been operating for more than 50 years and was founded by a group of doctors including Dr. Augusto P. Sarmiento, TMC’s Chairman Emeritus.