Explore Strategies to Improve Performance of Companies in Health Insurance Industry, Case of Premier Services Medical Aid Society (2014-2020)

Abstract

The research study conducted discussed strategies to improve performance of companies in the health insurance market of Zimbabwe focusing on Premier Service Medical Aid Society (PSMAS) from period (2014-2020). The market structure of the health insurance played a role in rising health care costs and in limiting access to affordable health insurance and health care. The aim of the study was to analyse and explore strategies to improve performance of companies in this industry in a heavily competitive environment and how they apply survival tactics. Findings from this study are relevant for understanding dynamics of the current health insurance systems and will help policy makers anticipate some of the issues involved in a concentrated health insurance market. The data for the research was collected through stratified random sampling to select the population of 260 participants from PSMAS staff and management at its head office in Harare. A structured questionnaire was utilised to extract information from the respondents and the results showed that the organization needs to come up with strategies to retain its market share. Recommendations included that PSMAS and its SBUs PSMI should work in harmony for the benefit of members and employees.