Hosmed Medical Scheme embraces remedial curatorship
02 May 2014 | Healthcare | Medical Schemes | Hosmed
Hosmed Medical Scheme under the new leadership of the Curator, Siyabonga Jikwana is embracing the new developments in the business and acknowledges that corrective measures are required to improve the Scheme’s governance challenges.
Jikwana who is acting as the provisional Curator and is replacing Hosmed’s Principal Officer and current Board of Trustees, has taken office with immediate effect following an application in the North Gauteng High Court in Pretoria by the Council for Medical Schemes (CMS) to address governance concerns at the Scheme.
"We are pleased to note that Hosmed administration is on track to keep the Scheme operational and that there’s been a great improvement on its reserves albeit slightly below the required 25%,” says Jikwana. "From time to time businesses go through a challenging phase and Hosmed has had its few challenges which I am confident that we will be able to turn around to the required levels.”
The CMS report states that the Scheme is financially able and that the provisional curatorship will in no way affect the claims paying ability of the Scheme. The Scheme will continue to fulfill its obligations to its members without any difficulty.
"Members’ interests remain a top priority at Hosmed and to effectively sustain that service to members and related stakeholders, there is need to implement governance structures and procedures to protect them. In my capacity as the provisional Curator, I am committed to ensure that the right strategies are in place to contain any challenges the Scheme is faced with,” concludes Jikwana.
