The Sanitas insurance group captured 130,000 new customers last year, a “historic record” according to its CEO, Iñaki Peralta, driven by the effect of the pandemic. “Covid has been a tailwind for the sector: there is more interest in having health coverage.” The company closed the year with 2.8 million customers, 8% more than in the previous year.
According to Peralta, the company’s growth has been greater than that of the health care sector as a whole because “Sanitas is known for its capacity for innovation, technology and quality of service and its products generate trust. And lastly, due to the increase in our distribution channels, which have been growing, incorporating our own channels, brokers and bancassurance agreements with Banc Sabadell and BBVA”.
The company today presented the results of last year, in which revenue grew by 9.5%, to 2,368 million euros, and operating profit rose by 16%, to 206 million.
financial improvement
Sanitas entered 2,368 million, with an operating profit of 206 million, 16% more
In the strictly insurance business, the company had revenues of 1,559 million euros with a total of 2.3 million customers (in many cases the policyholders are companies for their workers or public administrations). The company has increased its market share, Peralta explained, to 20.47% of the market.
The company plans to focus its growth efforts this year on digitization (last year 12.1% of its medical acts were already digital, with 782,000 video consultations), sustainability and internationalization. Sanitas is a subsidiary of the British group Bupa but has been entrusted by the parent company with the management of its international expansion. After Spain, which accounts for 44% of its business outside the United Kingdom, Chile, Poland and Mexico stand out. In total, the Spanish subsidiary manages a business of 4,004 million pounds, which grew by 12%, with 11.4 million patients.
Sanitas is focusing its investments on creating its own healthcare network. “Traditionally it had a greater weight, which was reduced by the growth in insured in recent years, which increased the use of private centers in concertation,” he explained. The largest investment underway is the construction of a new hospital in Madrid, in Valdebebas, with 100 beds, which will be the insurer’s fifth in Spain and will centralize its R&D activity. The company also has 20 outpatient centers and 20 rehabilitation centers, an area in which it will grow with the opening of another 6 this year, in which it will focus on technology and personalization of treatments.
Digitization
12.1% of its medical acts are already digital, with 782,000 video consultations
Peralta pointed out that dental clinics are another of the engines of results: he has 200 throughout Spain and is reinforcing them with a large digital investment to improve service.
Sanitas has 45 residences for the elderly, half with day centers and another 5 independent day centers. After the harsh impact of the covid in 2020, Peralta explained that the residences, with 6,214 beds, have an occupancy rate of 89%. The insurer has reinforced digital health care for these centers, medical and nursing, and has 15 video consultation specialties to avoid hospital transfers.
In Spain, Sanitas has more than 11,250 employees. The company also has a medical team made up of more than 49,000 specialists and 4,000 affiliated medical centers.