M O M E N T U M H E A LT H
Health care cover focused on diversification
M O M E N T U M
H E A LT H
Flexibility is fundamental to
Progression aving begun its life as an AVBOB-owned life insurance company in 1966, the Momentum brand has expanded exponentially in the half century since its inception and now operates under MMI Holdings. Its meteoric rise is particularly evident in one of its core divisions, MMI Health - an entity that has come to hold almost a third of the healthcare administration market share across South Africa.
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Momentum is pioneering new age thinking in the health market, providing unrivalled services to the South African population
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Writer: Jonathan Dyble Project Manager: Josh Mann
The Momentum Health medical scheme was born from the amalgamation of Momentum’s existing administered Pulz medical scheme and the well-established South African counterpart, National Medical Plan. The resultant medical scheme has become a key player in the South African medical scheme industry something that Damian McHugh, Momentum’s Head of Health Marketing and Sales since 2008, knows all about.
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“The merged scheme, created in 2005 through the amalgamation of Pulz and National Medical Plan, supports Momentum’s strategic intent to provide a full range of financial services to our clients,” he says. Providing cover for more than 290,000 lives, and serving over 150,000 families, Momentum Health is now one of the three largest open medical schemes in South Africa. Currently, approximately 17 percent of South Africa’s population of 57 million
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people is covered by medical aid that provides them with access to private healthcare cover. Momentum Health’s growth has run in tandem with the rising market, forecast to grow at either percent per year between 2018-2020.
Unrivalled sustainability
Momentum Health has maintained a philosophy of flexibility within its product offering throughout its journey, a significant reason as to why it is the medical aid provider of
choice for students and lower income employees across South Africa. “The scheme’s strong growth stems from taking a revolutionary approach that kick-started a move away from traditional options towards benefits that can be moulded to individuals’ needs and pockets,” McHugh explains. Not only has this approach been fundamental to Momentum Health’s success in the market, but it also bodes well for the scheme’s long-term prospects.
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M O M E N T U M
H E A L T H
As of March 2018, the average age of the scheme’s principal members was just 41.5 years, whilst its new business principal members were on average just 32.5 years old. “The flexibility in the benefit structure appeals to the younger market, as can be seen in the important average member age metric.” A leading example of this is the Scheme’s Ingwe option, an offering that has maintained its status as the number one medical aid option choice for international students studying in South Africa for the past 28 years. Taking all of this into account, it is evident that the reliability, adaptability and sustainability that Momentum Health offers is unrivalled across South Africa, reflected in the scheme’s AA credit rating.
Custom, Incentive and Extender Options more than R1 billion over the past three years”. Further, with the aim of ensuring that its customers receive optimal service alongside value, MMI has brought research, development and innovation to the forefront to complement Momentum Health’s operating model. Momentum Health was one of the first medical schemes to launch a fully functional mobile app for its members, providing deep insights into both Momentum’s products and their own personal wants and needs, whilst also attracting young, digital-savvy new clients to the scheme. McHugh continues: “An immense amount of market research is ongoing in the medical aid arena, especially in the current operational climate. Putting its members first MMI’s involvement overseas, in India Momentum Health prides itself on in particular, helps us understand the offering tangible benefits, for example, long-term value of operating models allowing its members to save up to and aids in identifying key trends.” R800 a month, if they choose to select Reports suggest that the global network providers specific to their healthcare IT market is estimated to medical needs. exceed $280bn by 2021, growing at According to McHugh, “this model 15.9 percent annually in the period has already saved members on the preceding.
MEDISCOR
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ediscor has proudly partnered with Momentum Health since 2005. We value our longstanding relationship and are honoured to efficiently manage their members’ medicine benefits, while consistently achieving positive health outcomes. We add value to our clients, by providing the following services: • Pharmaceutical Claims Management • Chronic Medicine Management • Reporting and Business Intelligence • Disease Management Mediscor has successfully implemented PBM services in several countries. Most recently a client in SADC achieved a cost reduction of more than 23 percent (over a two-year period) in the cost per utilising beneficiary.
www.mediscor.co.za
OOSTHUIZEN BROKERS
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osthuizen Brokers does not simply just sell health insurance. Our job is to fully understand your health needs, take into consideration your financial position and put together a healthcare insurance package that is affordable and will let you enjoy the smaller pleasures in life. In partnership with Oosthuizen Brokers, Momentum Health medical aid helps you to safeguard and even improve your health, while also preserving and growing your wealth. From offering free preventative screenings to savings on contributions and a strong claim paying ability, this philosophy underpins the growing popularity of Momentum Health. T +27 12 998 5341 E marietjieo@oosthuizenbrokers.co.za
www.oosthuizenbrokers.co.za Graeme Smith helps Momentum Health put a smile on people’s faces
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Mediscor is the largest independent PBM company in sub-Saharan Africa. We provide extensive medicine management expertise to more than 60 clients in five countries, covering 1.8 million lives and processing more than 4 million transactions per month. Fundamental to Mediscor’s offering, is our ability to electronically adjudicate medicine claims in real-time, at active ingredient level, against complex financial, clinical and pharmaceutical utilisation rules. These interventions significantly reduce expenditure on medicines. In addition to our high-performance adjudication system and our successful pharmacy network offerings, our clinical database includes every registered medicine in Southern Africa, enhanced with more than 80 000 references to current clinical information. This information is used to perform on-line drug utilisation reviews on every prescription we process for our clients. In this way we adjudicate the safety and appropriateness of millions of prescriptions, each potentially preventing a misadventure or improving the patients’ clinical outcome. We complement our clients to achieve the “triple aim” - improving the experience of care, improving the health of members, and reducing per capita costs of health care. Tel: +27 674 8000 (South Africa)
www.mediscor.co.za
Big dreams need a professional guiding hand to navigate them to their final destination...
WE CALL IT FINANCIAL PLANNING FOR LIFE
T: +27 12 998 5341 | C +27 82 8938471, +27 82 9081222 | E: marietjieo@oosthuizenbrokers.co.za
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M O M E N T U M
H E A L T H
Building from within
Aiming to consolidate its position, MMI readily provides its staff with the opportunity to grow their personal skills whilst ensuring that the highest level of talent is retained within the business. These practices are reflected throughout the company’s structure, from newly appointed employees to the longest standing members of the MMI Health team. “One of the most important solutions we have implemented, centred around putting sufficient staff resources, of the right calibre, into place to ensure ongoing quality service, an initiative that naturally involved a long period to competency, as these new staff members had to undergo extensive training,” McHugh reveals. Alongside its level three B-BBEE status, the importance MMI places on its staffing has led to the company winning a range of service excellence awards in recent years.
Leading the way with social responsibility
Much like its outlook on internal progression, MMI actively recognises the wider role that it is expected to play in furthering socioeconomic development. One realisation of this is through the MMI Volunteers programme, where employees
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offer their skills and talents to local communities. “We recognise that we are inescapably tied to the welfare of communities around us and that we need to work for their betterment as an organisation,” he states. “Our volunteer efforts are proof of the integrity of our commitment to be an engaged corporate citizen.” Further, MMI pursues a number of other social investment enterprises, such as its Motheo Financial Dialogues initiative, aimed at empowering the country’s youth with crucial financial knowledge by facilitating conversation through workshops and industrial theatre.
What’s next?
Moving forward within South Africa’s healthcare market, Momentum is now looking to expand its operations and social investment more widely across the country, making its services
SLEEPNET
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he market leaders in sleep and respiratory disorders, SleepNetBreatheNet, now caters for both adult and paediatric patients. SleepNet-BreatheNet assists hundreds of patients suffering from sleep disordered breathing, who need reliable and robust medical devices to assist them with breathing during sleep. The SleepNet-BreatheNet Home Ventilation Program is unique and successfully transitions ventilator dependent patients from the ICU to home. Providing state-of-the art equipment, a skilled workforce and unrivalled after care services SleepNet-BreatheNet has a national footprint with offices in major cities for easy access. Visit www.sleepnet.co.za for more information
“This country has been proven to be innovative by nature, and we need to continue finding solutions that work for us”
increasingly accessible to the wider population. “Momentum Staff Care Solutions and other initiatives are gaining strong traction, showing that we are on the right track,” McHugh concludes. “Good healthcare cover is a focal point of discussions around the world. In South Africa, Momentum believes
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that through cooperation between private and public-sector role players, we may soon arrive at a world-class solution that fits our socio-economic environment. “This country has been proven to be innovative by nature, and we need to continue finding solutions that work for us.”
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putting breathing disorders to bed As the most trusted name in the sleep, ventilation and neuro-diagnostics industry, we can assure all our valued clients of our commitment to providing you with quality care, state-of-the-art products and competitive prices.
Branches available in Cape Town, Johannesburg, Pretoria, Port Elizabeth and Durban 021 551 0325 | info@sleepnet.co.za
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Momentum Health 268 West Avenue Centurion 0157 South Africa Tel: +27 12 671 8911 member@momentumhealth.co.za
www.momentum.co.za
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