Category Healthcare
SUB CATEGORIES General  |  HIV |  Medical Schemes | 

Spectramed and Liberty Health Holdings conclude strategic

08 December 2009 Spectramed and Liberty Health Holdings

SPECTRAMED Medical Scheme (‘SPECTRAMED’) and Liberty Health Holdings (LIBERTY HEALTH’) are, after months of extensive negotiations, pleased to announce the conclusion of a Strategic Alliance, aimed primarily, at the establishment of a highly competitive Super Scheme, whilst simultaneously aligning the Intellectual Property (‘IP’) of SPECTRAMED with the Technology- and Process Solutions of LIBERTY HEALTH.

In the case of SPECTRAMED, this will result in the adoption of LIBERTY HEALTH’s technology- and process solutions, via LIBERTY HEALTH’s subsidiaries VMed and Neil Harvey & Associates (‘NHA’) as early as 01 January 2010, whilst in the case of LIBERTY HEALTH, the SPECTRAMED Internal Fund- and Joint risk Management Models are to be adopted, universally, over the next 6 - 12 months.

Says JC (Quincy) Beukes, Chief Executive & Principal Officer – SPECTRAMED:

“We are very excited about the value this strategic alliance will bring both for our members and for the industry as a whole, which together with a clear meeting of minds between our respective Boards / Executive provides for significant future opportunity …

We believe that a Scheme, strong in its role as a Funding Vehicle, together with a system / administration specialist strong also in its role as Service Provider, can bring new solutions to many of the industry challenges faced …

To this end, our action has been deliberate to position SPECTRAMED as a preferred Super Scheme vehicle of the future whilst affording other industry players an ‘inclusive’, rather than an ‘exclusive’ opportunity for parallel alignment …

That 110 registered schemes - serving the needs of only 7 million (est.) beneficiaries in South Africa, is simply not sustainable is now a universally accepted fact … the question to ask, very simply, is : who will ‘succeed & prosper’ and who ‘fail and disappear’ over the next 3 – 5 years …

Our vision, quite clearly, provides for a Super Scheme vehicle of no-less than 400,000 families or 1,000,000 beneficiaries over the next 3 – 5 years, thus enabling a top-3 funding position and vastly improved ‘provider negotiation’ and ‘innovation capacity’ …”

Says Dr. Peter Botha, Chief Executive Officer – LIBERTY HEALTH:

“We believe that this alliance fits perfectly into the Liberty Health Group vision both for Africa- and South Africa and are excited about leading, rather than following what is commonly referred to as the ‘Super Scheme movement’ …

That this alliance further provides for a highly innovative model of co-operation, genuinely enabling the continuous development of shared intellectual property and value, makes for an ‘easy’ business consideration worthy of long-term investment … “

SPECTRAMED and LIBERTY HEALTH are further pleased to advise that the physical implementation of the ‘Organizational Alignment Project’ has already been in process for a number of months – albeit behind closed doors under the terms of confidentiality concluded, and is anticipated to result in the seamless transfer of functional service from Medscheme to VMed / NHA.

To this end, all SPECTRAMED constituents (comprising members, employers, brokers and providers) are reminded that SPECTRAMED has for some time now - owned all contact destinations (Tel. / Fax. / Membership No. & E-mail addresses) and has itself, carried the ‘core communications back-bone’ (infrastructure) attaching to such service. The proposed operational move is, therefore, not considered a ‘normal administration move’ and to which, very few of the business risks normally associated to such a transfer, are to apply.

In addition to the promise of improved service – through technology solutions, the association with LIBERTY HEALTH guarantees SPECTRAMED the maintenance of its below industry average total non-healthcare delivery costs, which over the past 2 years, has reduced from R274 Mil (2007) to R177 Mil (2009 est.) per annum.

Quick Polls


Have you seen insurers implementing rate adjustments / risk management around climate change?


fanews magazine
FAnews June 2024 Get the latest issue of FAnews

This month's headlines

Understanding prescription in claims for professional negligence
Climate change… the single biggest risk facing insurers
Insuring the unpredictable: 2024 global election risks
Financial advice crucial as clients’ Life policy premiums rise sharply
Guiding clients through the Two-Pot Retirement System
There is diversification, and true diversification – choose wisely
Decoding the shift in investment patterns
Subscribe now