‘Right fit’ trend key in tighter market – Liberty Health
In a tighter economic environment the coming healthcare trend is ‘right fitting’ to assure built-in smart buying as medical aid members will increasingly look to pay only for what they need.
The forecast comes from Liberty Health Medical Scheme (LHMS), a leader in life-stage customisation of health plans.
Nick Gallimore, MD of Liberty Health, consumer marketing, sees substantiation in positive marketplace reaction to the ‘right fit’ product design of Liberty’s option range, specifically the Gold Plus option structured for young families.
“Tougher economic conditions focus the mind on what’s most important,” says Gallimore. “Our reading of market psychographics among salary-earners with young families is that continued health is a priority as it enables the bread-winner to maintain an appropriate lifestyle for the family.
“The health of the kids and preventative care are non-negotiable. Economies will be sought elsewhere.
“The private healthcare sector has to respond to these dynamics and create product structures that respect life-stage priorities and deliver value by trimming away any ‘fat’ in less important areas.”
Closeness to customers and marketplace sentiment have contributed to significant growth at Liberty Health in recent years. LHMS has over 100 000 beneficiaries .
LHMS increasingly addresses affordability in a life-stage context.
It innovates within its Corporate Network for lower paid earners by offering a comprehensive range of core covers, each suited to four distinct pay grades.
Customisation of the Gold Plus offering is driven by needs identification within key demographics, with special emphasis on prophylaxis – the cost-effective prevention of conditions through early intervention.
“Researchers say about 80% of illness and disease is preventable,” says Gallimore. “Pre-emptive action cuts costs while protecting the income-generating power of the salary-earner – a vital consideration for both member and employer.”
The Gold Plus structure shows the LHMS model at work. The plan provides robust cover for events that are most likely to occur within young families. Childhood conditions are included in chronic cover; for example, attention deficit disorder.
Members don’t need to meet these costs from their savings accounts – a key affordability factor at a time of growing pressure on spending.
Among other things, Gold Plus offers:
- Unlimited cover for trauma
- Laser tonsillectomy
- Visits to the dentist
- One eye test per year per child dependant
- More hospital cover for the mental health for children.
- Private wards for maternity admissions
- Three ultrasound scans per pregnancy; one 3D maternity scan
- Treatment of HIV/AIDS through Lifeworks
- Oncology benefit with cover for supportive treatment for 12 months after the completion of active treatment
“Product design ensures generous day-to-day cover for ailments associated with a salary-earner’s hectic lifestyle and a free flu vaccination to help keep members fighting fit,” says Gallimore.
“The preventative care benefit creates access to health tests and immunisations to enable close monitoring of family health. Early detection and treatment of medical conditions helps to prevent the progression of chronic illnesses, creating long-term savings.
“Features like this also find a perfect fit with life-stage requirements for this demographic – a key factor in the current environment.”
