SAN JUAN, Puerto Rico,
Sept. 28, 2017 /PRNewswire/
-- Triple-S Management Corporation (NYSE: GTS), a leading
managed care company in Puerto
Rico, today provided an update on its operations following
Hurricane Maria. All of its buildings were successfully evacuated
prior to the storm reaching the island and backup generators were
already in place. While corporate headquarters experienced some
wind and rain damage, Triple-S' businesses are up and running,
albeit with a scaled-back workforce to allow employees to
concentrate on the safety and well-being of their
families.
Roberto Garcia-Rodriguez,
President and CEO of Triple-S Management, commented, "Hurricane
Maria was the fiercest storm to hit Puerto Rico in the last 80 years. It has
resulted in widespread disruption from loss of power and fallen
debris that has affected many roads. I am pleased to report that
the Triple-S family made it through the hurricane unharmed, which
is of paramount importance to myself and the entire management
team."
He continued, "Our P&C team is processing claims as quickly
and proactively as possible to help expedite the flow of funds to
our members. In our Managed Care business, pharmacies are extending
members' prescriptions for a month and we are working closely with
hospitals to process patient claims as swiftly as we can to
alleviate members' cash flow concerns."
Garcia-Rodriguez concluded, "We are still very early in
assessing the damage Island wide, but our maximum P&C exposure
is $10 million. Some of this exposure
will likely be offset by our Managed Care operations, which are
experiencing lower utilization as our members rebuild their homes
and focus on their families. We continue to identify ways to help
our members get the care they need in a timely fashion and the
Government has made those in need of healthcare a top priority. The
fallout from Hurricane Maria is another in a long list of
challenges that Puerto Rico has
faced in the last decade. I am confident that the resolve and
resilience of our people will allow us to band together and rebound
from this devastating natural disaster."
About Triple-S Management Corporation
Triple-S Management is an independent licensee of the Blue Cross
Blue Shield Association. It is one of the leading players in the
managed care industry in Puerto
Rico. Triple-S Management has the exclusive right to use the
Blue Cross Blue Shield name and mark throughout Puerto Rico, the U.S. Virgin Islands, and Costa Rica. With more than 50 years of
experience in the industry, Triple-S Management offers a broad
portfolio of managed care and related products in the Commercial,
Medicare Advantage, and Medicaid markets under the Blue Cross Blue
Shield marks. It also provides non-Blue Cross Blue Shield branded
life and property and casualty insurance in Puerto Rico. For more information about
Triple-S Management, visit www.triplesmanagement.com or contact
kwaller@allwayscommunicate.com.
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SOURCE Triple-S Management Corporation