BUSINESS NEWS

BestMed reports a healthy balance sheet!

Last year, the company had a torrid time following reports that nine of its trustees were removed from office for alleged lack of fitness and impropriety by the Council for Medical Schemes.

The Scheme recently held elections and members were invited to nominate candidates. More than three nominations were received and members participated in an election process.

At today’s AGM financial statements highlighted a healthy and profitable balance sheet.

“Our reserves have remained above 25% in the previous financial year and we continue to provide our members with the benefits that match their profiles at affordable rates and the growth the Scheme has achieved for the 2014 financial year,” says Chris Luyt- head of Marketing, Communication and Distribution at Bestmed.

Details of assets, funds and liabilities and risk contribution assets were explained to stakeholders, continued Luyt.

Here are the new board members:

Fred Camphor as the current Chairman

Prof Piet Delport

Reverend Hannes Windell

CM Mowatt (Colin)

PM Kennedy ( Peter)

LB Dlamini ( Leo)

Dr LH Petersen (Leonard)

S Stevens (Suzanne)

S du Plessis (Steyn)

CEO, Dries La Grange reflected on Bestmed’s journey and expressed his gratitude to the members who have been loyal to the scheme through the recent challenges we have experienced.

“The fact that we have achieved the four measures of business success: profitability, customer satisfaction, growth and sustainability can be largely attributed to the unwavering support of our members, brokers and other key stakeholders that we work with.”

For its hard work, the Scheme was honoured with the Healthcare Product Supplier of the year Award at the 17th annual Financial Intermediaries Association of Southern Africa (FIA) Awards ceremony held this year.

 

 

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