PhilHealth taps Landbank for auto payment

MANILA, Philippines - The Land Bank of the Philippines has entered into an agreement with Philippine Health Insurance Corp. (PhilHealth) for an automatic payment crediting scheme.

Landbank senior vice president for branch banking Jocelyn Cabreza said the agreement would involve payment claims of accredited institutional health care providers (IHCPs) and hospitals through Landbank’s Payroll Credit System Validation (PACSVAL) facility.

“We at Landbank continue to support the programs of our partners in government and we are pleased to be able to contribute to PhilHealth’s continuous thrust towards operational efficiency and convenient delivery of service,” she said.

PhilHealth has mandated its accredited IHCPs and hospitals nationwide to open deposit accounts with Landbank where the payments of their claims will be credited.

Through the PACSVAL facility, PhilHealth will no longer issue checks to pay claims of accredited IHCPs and hospitals.

Cabreza signed the agreement with PhilHealth president and CEO Eduardo Banzon at the PhilHealth head office in Pasig City.

Landbank has other existing tie-ups with PhilHealth, including a collection and remittance partnership on the premium contributions of overseas/migrant Filipino workers.

Landbank has also been PhilHealth’s depository bank and partner in the collection of premiums for more than 10 years.

In 2011 alone, 146,465 PhilHealth transactions were coursed through Landbank, amounting to P954 million in premium collections.