PSMAS allays fears of imminent closure, admits situation is bad

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By Staff Reporter

EMBATTLED Premier Service Medical Aid Society (PSMAS) has announced it will not shut down any time soon, thereby allaying rumour doing the rounds.

It was recently reported the medical aid society would be suspending its operations starting 2023 as financial crisis continues to dog the entity.

In a statement, PSMAS confirmed that things are not so rosy but assured its clients that it will remain open while fixing its problems.

PSMAS said the rumours are not only false but bent on tarnishing the organisation’s Image and reputation.

“Contrary to these misplaced assertions, PSMAS is not closing shop in 2023 or in the foreseeable future.


“Through the regulator of medical aid societies, the Society is undergoing a transformational process meant to effectively address challenges that the organisation has faced in the recent past.

“PSMAS acknowledges the challenges at its investment arm, Premier Service Medical Investments (PSMI). The responsible authorities are seized with and working flat out to resolve these challenges and restore normalcy at PSMI.

PSMAS said the challenges at PSMI do not have a direct impact on its operational mandate, which is to fund healthcare needs for members.

“The Society has been in existence since 1930 and shall continue operating in the foreseeable future with almost a century of being PSMAS, we are facing the future with the confidence that we will serve our members with excellence as the indisputable leader in assuring access to affordable quality healthcare. It has been and continues to be an honour to serve,” it said.

PSMAS has been going through financial challenges which have resulted in poor service delivery in most cases leaving subscribers stranded.

The company is in huge debt that has been exacerbated by the economic challenges and late payments by the government which has a more than 90 percent client base in the medical service provider.

So dire is the situation at the company that medical facilities sometimes turn away its clients leaving government workers in limbo in emergency cases.

Recently government injected ZW$4 billion for smooth operation of the medical aid provider but this according to critics is a takeover trick.