5 things you need to know about your financial services provider

The Financial institution that you choose to partner with, particularly if you are in the medical profession, needs to be able to answer some hard questions before you can make it a partnership for life. In this article we take a look at five crucial aspects of providing financial services and how one financial institution in particular ticks all the boxes. So what are the 5 things you need to know about your financial services provider?

1
What is their track record?
Fly by nights and financial institutions that can’t be trusted will generally not be able to produce much of a solid history. Do the Financial service providers you need have tried and tested results? MFI, for example, have a highly qualified team of over 46 experts in their own fields. This is what ensures financial insight and solid management.

2
Can they give you custom made financial solutions?
As mentioned earlier, people in certain professions (and particularly those in the medical profession) require specific types of services to ensure they are covered in all aspects of their business. MFI’s experience, combined with progressive ‘know how’, gives our customers bespoke solutions, thereby giving them the edge with competitors.

3
Are they flexible?
Many financial institutions, even those that give bespoke solutions, are not always flexible enough though to handle many different types of clients. Again MFI meets these needs by having services that are extensive, covering most financial requirements both in and out of the medical fraternity. They are not too big to service individuals or too small to handle large corporate contacts.

4
Do they follow through?
So many businesses find that after a financial requirement is settled on – they are just left hanging. Do the people you want to partner with follow through? Solid institutions like MFI don’t just make the sale and disappear – their reps and Sales people are trained and committed to follow every service offering through to completion. On-going liaison and support is also par for the course.

5
Most importantly – Can they be trusted?
With the many cases of financial institutions around the world being involved in dodgy activities, integrity is a big issue. Mutual trust, confidentiality, transparency and especially accountability are not just promised by MFI, but practiced within the organisation as our ‘core values.’

We hope that these 5 things you need to know about your financial services provider have been helpful to you. If we have convinced you that MFI most certainly do tick all the boxes, then contact us and let’s talk about your specific financial requirements.

The 3 pillars (or cornerstones) of comprehensive financial services

We were not sure whether to title this piece ‘The 3 pillars,’ or ‘4 cornerstones,’ of a comprehensive financial management company. We offer 3 primary services – which can be seen as 3 pillars rising proudly above a landscape of mediocrity – solid pillars that uphold a financial institution of service excellence. They are also standing on 3 cornerstones – these are the foundations of experience and acquired expertise. Well, whether they are pillars or cornerstones, they demonstrate the comprehensive nature of the services offered by a business like MFI. So, the 3 pillars (or cornerstones) of comprehensive financial services are…

Medical practice management services – Over 100 medical practitioners already enjoy the state of the art technology that enables us to process medical aid claims in excess of R200 million a year! Through our ‘Medical practice management’ and ‘Medical and hospital practice management’ services, we take the hassle and the grind out of ‘day to day’ medical administrative issues with clients, hospitals and medical aids alike. These services include, but are not limited to:

• Setting up Hospital & Medical Practice Services
• Data processing of hospital & medical claims
• Administration of medical accounts
• Collections
• Control of payments
• Contact with medical schemes
• The updating of medical fees
• A call centre for patients
• Training in medical software

Accounting and banking services – Our team of qualified Accountants and Auditors provide a professional comprehensive bouquet of accounting and banking services to private individuals and corporate companies, regardless of the size or nature of their business or organisation. We have, for over 10 years, built a solid reputation providing these services and more:

• Accounting & Auditing
• Annual financial statements
• Taxation
• Management accounts
• Secretarial services
• Payroll Services
• Business Advice
• Cash flow statements
• Valuations
• Arranging financing on behalf of clients
• Pastel Training

Financial planning services – Our expert financial wellness practitioners, with their extensive knowledge of the finest financial products available, ‘realise the vision’ of financial peace of mind for individuals and businesses alike. Financial Guru Will Robinson said “Financial fitness is not a pipe dream or a state of mind. It’s a reality if you are willing to pursue it and embrace it.” These services include but are not restricted to:

• Estate planning
• Long-term insurance
• Consultations
• Investments
• Offshore investments
• Wills
• Trusts
• Deceased estates

No doubt you will agree that these 3 pillars (or cornerstones) do make a comprehensive range of financial services, but where, you may ask, is the fourth cornerstone? We at MFI believe that the fourth cornerstone is the foundation of Integrity – Mutual trust, confidentiality, transparency and especially accountability are not just promised, but practiced within the organisation as our ‘core values.’ Contact us and partner with us, for a solid financial future – in every respect!

Why medical practitioners need specialist financial services

Many medical practitioners have experienced the disadvantage of using financial services that are not aligned to their profession and many have paid the price for this error. Systems that don’t work efficiently and miscommunication with medical aids are just 2 possibilities, so why do so many people in the medical profession make this mistake? Perhaps they simply need to be persuaded that there are a few very good reasons why medical practitioners need specialist financial services ….and here are a few…

We understand the principle of ‘Horses for courses’ – Just as we know that you are professionals in your chosen fields, we are professionals in ours …and just as you choose to specialise in certain aspects of medicine in order to deliver a better service in that specific area , as experts in Medical Practice Management, so do we!

We understand your business – The medical profession is s much a business as much as any other business, facing issues of accounting, tax compliance and customer liaison, but the difference is that you are specifically also dealing with hospitals, clinics and medical aids. There are certain unique aspects to the financial side of your business and with our understanding of this we can take the hassle out of it all for you.

We provide specific services to help you – We provide financial services specifically aimed at assisting you as medical practitioners. These include:

• Setting up Hospital & Medical Practice Services
• Data processing of hospital & medical claims
• Administration of medical accounts
• Collections
• Control of payments
• Contact with medical schemes
• The updating of medical fees
• A call centre for patients
• Training in medical software

Our track record speaks for itself – Over 100 medical practitioners already enjoy state of the art technology that enables us to process medical aid claims in excess of R200 million a year! We have achieved great results and many satisfied clients through our involvement with medical practices like: New doctor practices at Medi-clinic, Life and Netcare hospitals; Horizon Eye Care Centre and Cureday Clinics …to name a few.

Our motto is “While you get on with the wellness business – we make your financial wellness our business!” If you agree that medical practitioners need specialist financial services, contact us to become one of our many very satisfied medical profession customers. We take pride in the excellent service we provide for such a noble profession!