Symphony health Medical Aid Scheme is optimistic of a good trading year in 2015 after striking a deal with a number of companies in the private sector and parastatals.
The medical aid scheme, which prides itself with being a new generation service plan provider, has now geared its efforts at recruiting new clients and getting existing medical aid users to change from where they are currently enrolled to them. It was established two years ago.
Addressing members of the media on Monday, Symphony Health CEO, Rose Tatedi, said though they were faced with various challenges upon breaking into the industry, things were now looking better.
According to Tatedi, Symphony Health struggled with accessing the market in its first days after starting operations, as people were not familiar with its new different benefits and services but says there were now slowly starting to open up and were now responding well to their products. Tatedi said the company also fell victim to dishonest clients who enrolled in their medical aid scheme after realising that it offered cover to some serious ailments and made provision for certain requirements which other medical aid schemes did not allow.
Tatedi, however, said though the response from their potential clientele base has more than doubled, their market share was still quite small. “But from a growth perspective, the results are quite exponential,” said Tatedi.
Tatedi said they have introduced new initiatives and developments in 2015. Though the medical aid scheme also recorded its first premium increase in February 2015 since its inception, she said that the increase was necessary to ensure that the scheme is able to meet its expenses including claims from both service providers and members.
Some of the improvements that Symphony Health has include a new benefit option dubbed Sym-Classique Plus, introduced in January 2015. Sym-Classique offers P1.2 million hospitalisation benefits. This according to Tatedi was introduced as a response to the feedback received from existing and potential clients.
More benefits have also been added for Sym-Exec. The benefits include more preventative tests for VDRL, Hepatitis and Safe Male Circumcision. The new Sym-Classique Plus and Sym-Exec will also have the same benefits. “Members on other benefits options wanting to do tests not provided for as embedded benefits for them are free to do them, provided they have medical savings available, from which the tests will be paid,” said Tatedi.
Symphony Health also boasts of one of the most accommodative maternity benefits, which offers pregnant women full hospitalisation benefits as per their benefit cover provisions. Symphony Health has also introduced BabySym Product to enhance comprehensive maternity benefits. “Upon registration on the maternity programme, the mother to be gets a hamper for herself and upon delivery she gets a hamper for the baby as well as support and advice,” Symphony Health CEO said.