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Medical Schemes

Medical Schemes

The regulatory landscape continues to evolve for the medical schemes industry, forcing companies to adapt and innovate.

How KPMG can help the medical schemes industry navigate the regulatory landscape.

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.

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.

Our services:

  • 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
  • Data migration
  • 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.

How we can help

We recognise that each client is unique and thus tailor our services to meet the size, complexity, business objectives and needs of the individual client.

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