Masm claims ratio down by 21 percent

Post was last updated: December 13, 2019

BY EZELINA KAMALIZA

The Medical Aid Society of Malawi (Masm) has registered a 21 percent drop in claims from 102 percent in 2017 to 81 percent by June 2019.

This was disclosed during the Masm annual general meeting (AGM) held in Blantyre on Wednesday.

Speaking during the AGM, Masm board chairperson, John Biziwick, said this was an improvement of about K10, 600,000 in claims enabling the society to achieve a surplus in 18 months.

Biziwick attributed the improvement in handling of claims from turnaround strategies that have enables a general surplus of K1.98 billion in 2019 from a deficit of K2.6 billion in 2019.

“We have solved the problems that almost led us to being insolvent 18 months ago, at that time some members and service providers were taking advantage to claim more than their entitlement” Biziwick said.

Masm Chief Executive Officer, Sydney Chikoti, said on the sidelines that some members complained over poor services in some hospitals outside the country.

Chikoti then said Masm is continuously engaging the hospitals to ensure access to quality services for its members.

During the AGM, one of the directors from the board Tawanda Madovi resigned and Dalitso Ngwalo was elected as his replacement.

Let us know what you think of this update and remember to add us on our facebook and follow us on our twitter. Make sure to come back daily for more Malawi business news updates.

Quick Links: Malawi Banking News | Malawi Technology News | Download Business eBooks | Ten Signs You Are An Entrepreneur | What is a Managing Director?

Today’s top business story: Top Commercial Banks In Malawi

Source link