The Quest for True Value Is More Important Than Ever
Photo by Chronis Yan on Unsplash
Since last year this time life has changed and with it the values of most South Africans. As we enter the new year the need for quality healthcare cover has shot to prominence and going forward decisions made when buying that cover will be based on an entirely different set of rules. By Josua Joubert – Chief Executive and Principal Officer, CompCare Medical Scheme Financial pressures following a worldwide recession, job losses and reduced working hours have seen many people, particularly younger individuals, tightening their belts while focusing on essentials including accommodation, food, healthcare, and education, and reducing costs such as entertainment and other leisure activities. Not only is everyone looking for better value at a more acceptable price, but better healthcare outcomes are seen as being all  important. Furthermore, research has shown that most of us today care more about health and other benefits than previous generations. We are also more technology savvy and where possible would prefer online consultations with healthcare professionals – a service we already offer at CompCare. Anyone still mistakenly assuming that it is safe to go without healthcare cover should take heed of the events of this past year. Affordability issues are a growing challenge in the private healthcare sector. In the light of current cost pressures being reported globally, affordability challenges are a fact of life for most individuals the world over.  People are hard pressed to find lasting value when it comes to the delivery of affordable healthcare, particularly in the current financial climate. In times of uncertainty one of the greatest attributes that any medical scheme can offer its members is the ability to innovate to such a degree that value can be created from even the lowest of healthcare budgets. Everyone is looking for a low-cost option that is not only affordable, but also sustainable, and we believe we have developed a solution that more than fulfills this need. Since its introduction to CompCare ’s product suite in 2017, UniSave has fast become one of the most popular products on offer in its price range and market segment. Appealing to young members and those with a limited budget, the option includes unlimited hospitalisation, and a medical savings account set at the maximum permissible level of 25%. This out-of-hospital flexibility has seen the option grow significantly since inception, while maintaining a positive financial performance. Given these good results, the scheme continually focuses on enhancing benefits and securing the lowest contribution increases possible. UniSave provides value well in excess of its contribution point. Research has shown that while the industry average richness fluctuates between 80% and 100%, UniSave is positioned well-above the average at 103.3%. Combined with the low price point, the option is highly competitive. CompCare is not only conscious of the importance of keeping healthcare affordable and accessible, but seeks to facilitate the delivery of top-quality care. Packaged to adapt to the individual needs of every medical scheme member CompCare is highly focused on providing service excellence at a price that is right.