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As the healthcare industry increasingly adopts technology and software to help them expand their services, benefits, and care offerings – it’s no surprise that Medshield Medical Scheme is doing the same.
Medshield Medical Scheme, a leading self-administered scheme in South Africa and a not-for-profit entity, maintains consistent and reliable benefits with technology offerings that position them as ‘your healthcare partner for life for 2024 and beyond’.
How are they staying ahead of economic shifts without impacting member benefits?
Medshield Medical Scheme already offers healthcare at value-packed rates without compromising on care – they’ve recently launched benefit options and contributions for 2024. This will form part of their Partner for Life offering and aims to balance affordability, increasing access, and providing the best quality care for their members while maintaining their status as a viable and sustainable medical scheme.
And while the turbulent state of our shifting economy has meant that their team has had to unfortunately place an increase of fees for 2024, their scheme funded a portion of the increases from the reserves and announced an 8.9% average weighted increase – while still allowing for a 0% contribution increase on some of their plans. This meant that those with tighter budgets or smaller plans were buffered mostly from the impact of the shifting economy and rising costs.
As a self-administered scheme and a not-for-profit entity, Medshield Medical Scheme prides itself on its no-profit motive, allowing members to benefit from any surplus generated within their scheme. They’re able to remain financially sound with above-average reserves – which ensure that claims can be paid – even if a pandemic hits. This helps the Scheme stay ahead of the risk of global pandemics or economic shifts disrupting the healthcare industry.
- Refined product offerings that address the gaps raised by brokers and members and an enhanced and improved basket of options – subject to CMS approval.
- An average 5% increase on specified benefits across all options – the medical scheme has also unlocked additional Paediatric consultations to enhance the MedshieldMOM maternity programme on relevant options.
- Preventative screenings will remain a top priority as they continue to enhance their wellness benefits to include additional benefits for screenings.
- A reduction in some co-payments to help remove financial strain on members.
Technology as a tool to democratise healthcare…
Not only do Medshield Medical Scheme members benefit from not-for-profit self-administered benefits, but the staff who help keep the medical scheme running are also valuable players in the success of the scheme. Their team has recently received an accolade as a Top Employer in South Africa from the Top Employers Institute.
Medshield Medical Scheme believes incorporating technology helps to democratise healthcare – increasing accessibility and affordability to the broader South African. Their evolving ‘SmartCare Digital Healthcare Ecosystem’ enables members to get quicker access to quality healthcare through telemedicine via Videomed and virtual GP consultations that can be conducted through any computer, smartphone, or tablet from the comfort of a member’s home. Their scheme also includes the option for members to receive hospital-level treatment at home through 24/7 digital monitoring and personal care as stipulated in the Hospital-at-Home benefit offering./p>
These benefits are what allow Medshield Medical Scheme to position itself as your partner for every life stage – from childhood to retirement. Their benefit packages and the tech they’ve adopted all are done to ensure all members and their dependents receive much-needed quality healthcare.
With a legacy spanning over 56 years – the scheme provides nine tailored healthcare options – with two Efficiency Discount Options, reinforced by comprehensive private hospital cover. Members also have access to a network of trusted and respected healthcare professionals and resources that are geared to support their health and wellness journey at all life stages. For more information on Medshield Medical Scheme’s benefits – visit their website.
This post was sponsored by Medshield Medical Scheme and produced by Adspace Studio.
