South Africa

Medical Schemes 

The challenges faced by the medical scheme industry have resulted in many schemes responding by either adapting their offering to members or as has been the case for many of the closed schemes, finding an appropriate partner to amalgamate with.

 

The regulatory landscape continues to evolve as the National Health Insurance (NHI) proposal confronts the massive health financing gap in South Africa.

Lance September

Lance September

Director

+27 (0)83 457 5074

Marcelle Fouche

Marcelle Fouche

Director

+27 (0)82 788 9111

Further changes in International Financial Reporting Standards (IFRS) will pose significant challenges for administrators and trustees over the next few years.

 

Medical schemes must understand the future landscape to meet and manage their stakeholders’ expectations.

 

How can we help

 

We recognize that each client is unique and thus tailor our services to meet the size, complexity, business objectives and needs of the individual client. KPMG’s audit and advisory service offering in the market includes, among others:

 

  • External audit services
  • Information Risk Management services particularly regarding systems and internal controls (eg Service Organisation reviews)
  • Corporate governance advisory services
  • Regulatory compliance services and operational implications
  • Internal audit services
  • Procurement advisory services
  • Forensic services
  • Actuarial advisory services
  • Staff secondments
  • Due diligence support and other Corporate Finance services
  • Trustee training
  • Trustee elections
  • Sustainability reporting
  • Financial reporting services (eg King III gap analysis, development of risk registers, combined assurance models)
  • Strategic planning
  • Third party administrator selection support
  • Medical scheme and third party administrator service level agreement and key performance indicator development.