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to physical health
from Fintech for Health
disease–butthetreatmentneededand,consequently,thecosts foreachindividualcanvarysignificantly.
5. Healthcare costs are not linked to healthcare outcomes.
In healthcare, we pay for what we use. In “fee-for-service” healthcare systems, costs are determined by inputs (i.e. products and services delivered). Outcomes or results are not guaranteed by hospitals or doctors. For the individual, the disconnect between cost and outcome puts tremendous financialpressure on ahousehold andmaynot result in better health.Forthosewhofacesevereandlife-threateningillnesses, this is a gamble that could result in death or bankruptcy and generationalpoverty.10
Contextualizing financial health and its relation to physical health
Aperson’shealthandfinancialjourneyareauniquefunctionof their circumstances. Based on our observations through the Fintech for Health program and informed by our research on case studies, interviews, and discussions with fintech and healthcareorganizationsaroundtheworld,wehavedeveloped typical “personas” representing everyday people who experiencehealthfinancingchallenges. Our personas from Malaysia, Vietnam, Bangladesh, and China are representative of many other countries where people face multiplefinancingchallengesthatimpedeaccesstothecarethat they need. For low- and moderate-income people, steady income, robust savings and assets, and adequate health insurancearerarelypossible.
Thepersonas describe individualswhofacemultiplefinancingrelated obstacles in the context of their households and communities. It is tempting to find one-dimensional solutions, but until we recognize and build for the complexity of real-life solutions,wewillfallshort.
Figure 2. Ibrahim's Journey
Figure 3. Rashida's Journey
