The Discovery Health Medical Scheme continues to lead the medical scheme industry with a market share of 56.6% in the open medical scheme market, net growth of over 41,000 lives in 2018 and solvency reserves of R17.6bn, and a solvency level of 27.3%. These are some of the key findings in Discovery’s just released 2018 results.
Some of the statistics
- Hospital admissions contributed the most to total claims costs, with R29.5 billion paid for hospital admissions in 2018.
- In 2018, there were 671,016 hospital admissions with an average cost per admission of R43,057.
An interesting fact is that there was a massive increase in cancer claims. Discovery’s data shows that cancer cases increased by over 45% since 2011, with almost 8,500 new cases in 2018 alone.
This fact was recently also one of the main contributors to life claims. Momentum Corporate’s claims statistics indicated that overall cancer claims increased by 48% since 2012 and represented 15% of all disability benefit claims in 2018.
Click here to read the Discovery Media Release.