Having clogged in 190 000 beneficiaries from 9 450 principal members in its first four years, the scheme is destined to grow in the next 50 years’ again!
“We have come a long way, and are proud to say that we have become a major player in the healthcare industry. Our pioneering spirit and member intimacy approach have seen us become the first medical scheme to grow by nearly 20% in just one year.
Our success is also attributable to the fact that we recognised that members’ healthcare needs vary, depending on age, marital status, member responsibilities and priorities.
We developed benefits that are structured to suit different healthcare needs, hence placing our members’ needs as top priority has contributed to our success over the years,” comments Dries La Grange, Bestmed CEO.
“We are not 50 years old; we are 50 years young and look forward to the next 50, he says.
The company has created a balance between wellness and health.
Previously, they assisted their members in getting the right treatment and medication but now their focus is on educating members on how to maintain a healthy lifestyle. It places a great deal of emphasis on its wellness philosophy, based on 5 basic pillars, encouraging members to Be Active, Be Safe, Be Nutri-Wise, Be Happy and Be Fin-Wise.
Bestmed’s growth strategy over the past recent years has been two-pronged i.e organic growth and amalgamations with smaller schemes with common values.
In the past financial year, Bestmed grew from 73 715 principal members and 154 222 beneficiaries to 88 814 principal members and 185 750 beneficiaries.
The scheme also signed two successful amalgamations during 2013 with Sappi Medical Aid Scheme and Minemed Medical Scheme. Bestmed’s first amalgamation took place in 2008, with the acquisition of the CSIR’s medical scheme, followed in 2010 by TeleMed.
According to La Grange, rising costs and the rapid rise of medical inflation remain a primary concern.
“Our biggest challenge lies in managing these costs so that we can remain affordable for our members, while at the same time keeping the business sustainable.”
Bestmed –as some would punt as champions of health conscious- is respected for hosting major cycling and marathons country-wide.