This was revealed in a recent independent, high-level reputation survey conducted by Sentinel Research & Strategy Consulting (Sentinel) on behalf of Liberty Medical Scheme (LMS). In terms of ethical practice and professional standards, Sentinel fully subscribes to the code of conduct of ESOMAR, the essential international organisation for encouraging, advancing and elevating market research worldwide.
The survey further revealed that Liberty Medical Scheme is considered an accountable, open, transparent and well-run medical scheme, displaying business leadership and integrity. Respondents also rated Liberty Medical Scheme significantly higher than the rest of the industry, in terms of trust and overall impression.
According to Liberty Medical Scheme's executive principal officer, Andrew Edwards, the scheme commissioned the survey as it cares deeply about its reputation and about improving all areas of service. "Liberty Medical Scheme regularly self-reflects and engages with all stakeholders to review opinions and make sure that it continues to earn their respect and trust. While the results of the survey show that, to a large extent, Liberty Medical Scheme is getting it right, we recognise that there will always be room for improvement, such as dealing with ad hoc complaints quickly and effectively.
"We are accountable custodians of members´ funds and nothing is more important than behaving with integrity, honesty, transparency and trustworthiness. Liberty Medical Scheme's philosophy is to conduct ourselves professionally and ethically, and to demonstrate proficiency, competence and discipline in all of our business dealings across the board. The results of this survey show that, in the eyes of the scheme's financial advisers and members, we, to a large extent, already succeed in achieving these objectives which is promising," said Edwards.
In terms of the total percentage of mentions, Liberty Medical Scheme ranked tops compared to other industry leaders and in terms of trust and overall impression, the scheme was rated significantly higher than the rest of the industry.
In general, Liberty Medical Scheme also scored good to well-above-average scores (seven and above) on all the elements of reputation measured in the survey, which paints a healthy picture.
"Liberty Medical Scheme will continue its efforts to serve its members even better to fulfil all of their needs by ensuring access to appropriate treatment and world-class managed care, dedicated service and measurable delivery as well as innovative thinking, energy and high standards. Moreover, the scheme will always listen to and get feedback from all of its stakeholders to ensure that it continues to serve the best interest of each and every member and stakeholder."
The online survey was completed by 5613 Liberty Medical Scheme members and 188 associated financial advisers. "Both brokers and members responded well to the invitation to participate in this survey," said Sentinel's MD, Anneke Greyling. "We invited all members and financial advisers with email addresses and allowed them the option to engage or not. The fact that nearly 6000 members responded, translates into a very small margin of error at a very high confidence level. The response rate is robust enough for a high-level study of this nature, we therefore believe the data is valid and reliable and a fair representation of the views of both members and financial advisers alike."
