Combining Microfinance and Health in Reducing Poverty-Driven Healthcare Costs: Evidence From the Philippines

Aranas, Lolita L. ORCID: https://orcid.org/0000-0003-3944-8470 and Khanam, Rasheda ORCID: https://orcid.org/0000-0003-1130-2357 and Rahman, Mohammad Mafizur and Nghiem, Son (2020) Combining Microfinance and Health in Reducing Poverty-Driven Healthcare Costs: Evidence From the Philippines. Frontiers in Public Health, 8:583455. pp. 1-6.

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Abstract

The role of microfinance in alleviating poverty and poor health is significant. Its health programs have been shown to improve healthcare utilization and strengthen a healthcare system. In the Philippines, microfinance's widespread presence is seen as instrumental in achieving the objectives of Healthy Philippines 2022, particularly in reducing poverty-driven healthcare costs. However, little is known on how microfinance can reduce the cost of healthcare services and treatment. Also, few studies that consider the practice of integrated microfinance and health programs in the Philippines have been seen. Secondary data was used to explore the structure and function of microfinance and health initiatives and their influence in mitigating healthcare costs. A review criterion was developed to examine the data using the three key elements identified in Ruducha and Jadhav's framework: organisational arrangement, health products and health outcomes. Findings revealed that most health initiatives are delivered through partnerships and collaboration, could favour a reduction in healthcare costs and protection from out-of-pocket health expenditure. They are designed to operate in three structures—subsidised or outreach, microinsurance and health loans, and patronage refunds. The cooperative's business venture providing pharmaceuticals facilitated access to affordable medicine and offered its members financial viability. Health loans and microinsurance also offered healthcare cost reductions; however, uptakes are low. The study found no data to assess the output of the completed health initiatives. More studies that will evaluate the integrated MFI health initiatives are recommended to further identify gaps, outcomes, or impacts of the program.


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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Faculty/School / Institute/Centre: Historic - Faculty of Business, Education, Law and Arts - School of Commerce (1 Jul 2013 - 17 Jan 2021)
Faculty/School / Institute/Centre: Historic - Faculty of Business, Education, Law and Arts - School of Commerce (1 Jul 2013 - 17 Jan 2021)
Date Deposited: 18 Oct 2020 23:17
Last Modified: 21 Oct 2020 21:28
Uncontrolled Keywords: microfinance, healthcare costs, medical care costs, poverty, Philippines, cooperative
Fields of Research (2008): 14 Economics > 1402 Applied Economics > 140208 Health Economics
Socio-Economic Objectives (2008): C Society > 92 Health > 9299 Other Health > 929999 Health not elsewhere classified
E Expanding Knowledge > 97 Expanding Knowledge > 970114 Expanding Knowledge in Economics
C Society > 92 Health > 9202 Health and Support Services > 920207 Health Policy Economic Outcomes
Identification Number or DOI: https://doi.org/10.3389/fpubh.2020.583455
URI: http://eprints.usq.edu.au/id/eprint/39918

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