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Kereke’s medical aid firm collapses?

But Munyaradzi Kereke, the company’s founder said these claims were untrue and “malcontents” had stolen documents from his offices so they could cast the company in bad light. Kereke has since filed a report for stolen documents at the Harare Central Police Station, CR Number 1611/11.

The leaked documents revealed that Green Card members had made claims of about US$121 000, yet the company had only collected US$87 600, meaning the company was spending up to a quarter more than it was receiving. These figures are from April 2011 to September 2011.

The insiders said that what had compounded Green Card’s position was that its membership drive had not been successful, with the company only managing 2 000 subscribers since its launch in March. Some medical institutions were reportedly turning away patients who held Green Card membership, citing the delay in recouping their money.

An income and expenditure account for six months ending on August 31, shows that the company was straddled with very high staff costs and other overheads.

Green Card’s financial position, the sources said, was so precarious that the company had sought a merger with GrainMed, a medical aid society for the Grain Marketing Board.

In a written response, Kereke dismissed reports that his company was in the red and instead said he was owed close to a million dollars by various medical aid societies. “The brand, together with Rockfoundation Medical Centre, is collectively owed US$732 714 by various medical aid societies, a result of the current laws which give debtors up to 60 to 90 days for accounts to be settled,” he said.

Kereke said he had written to the Ministry of Health to have this anomaly addressed. He further said reports indicating that claims were higher than premiums were false and the reverse was true. He also dismissed as false insinuations that Green Card was looking for a merger with GrainMed, saying neither the board nor management had considered this position.

Kereke said he was astounded by reports that people were being turned away from medical institutions, saying it was illegal to turn away patients and such medical centres should be reported to authorities.

On workers demanding their exit packages, Kereke said they had part paid those and the full package would be paid once the company’s debtors had paid-up.

“Your source is exuding a great deal of sour grapes,” he charged.“The package was given on a voluntary basis to allow those that found the high-performance standards expectations at Green Card too high for them.”

 

 

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