The current state of healthcare in South Africa doesn’t make for good reading as around 84% of people cannot afford private healthcare. Surprisingly, even those with a medical aid often have hefty bills as their scheme won’t pay the difference in hospital rates.
When someone can’t afford a simple procedure or treatment, what can they do? Considering the ever-increasing cost of medical care and medical aids in South Africa, the clear alternative is MediFin’s General Healthcare Finance solution. It will help where others can’t!
What Is General Healthcare Finance?
Most of us don’t want to think about medical emergencies but it is a reality. All too often people find themselves financially unprepared even if they have a medical aid. Whether it’s an emergency or an initial simple medical consultation, being unable to afford it can be upsetting and cause unnecessary stress to patients and their loves ones.
MediFin has helped countless South Africans get the care they need since 2012, thanks to affordable medical loans. Among many others, their Healthcare Finance solution is perfectly suited for general treatments and procedures, including:
- Day Hospitals
- Covid-19 Tests
- Rehabilitation and therapy
- Personal Protective Equipment
- General Healthcare Practitioners or Physicians
- …and many others
Nobody wants a loved one hurt or ill but it is a reality and unless they can finance their medical procedure, it will often lead to unwanted financial implications. Help them apply for a medical loan online today!
Medical Aids And The Health Insurance Market
Our health system is a mix of the robust private sector, struggling public sector and some non-governmental not‐for-profit organisations under the stewardship of the Minister of Health. As stated in the National Health Act of 2003, all of these form the basis of the national health system.
Medical insurance schemes in South Africa dominate the market for pre-funded healthcare products which operate similarly to not-for-profit trust funds. As reported in 2019, only 9.4 million people in South Africa were on medical aid between 2002 and 2018.
What about the rest of the population?
According to Stats SA, more than 45 million people can’t qualify for medical aids and that means relying on public healthcare that often doesn’t deliver the necessary patient care.
Tips On How Patients Should Manage Medical Expenses
The biggest mistake many people make is assuming that their medical aid will cover everything. Why not take this time to help them manage their medical expenses better by asking the following questions.
- Before treatment, did you find out what procedure your medical aid will cover and the amount?
- Have you asked the doctor or specialist about any additional costs?
- Before agreeing to any treatment, have you made the healthcare practitioner aware of your financial situation and the coverage of your medical aid?
- Have you checked that you are only paying what your medical aid comprehensive or hospital plan does not cover?
- Have you checked that there are no duplicate charges or invoices?
Remind them that not all practices submit invoices to medical aids on their behalf so they need to make sure that they follow up. Also, if they have any doubts around whether something is covered or not, always ask.
“Take care of the patient and everything else will follow” – Thomas Frist, MD
Emergency Medical Loans
Spurred on by the COVID-19 pandemic and the price of test kits, MediFin recently launched an online credit solution called e-Fin. It is the only instant finance solution in South Africa providing medical loans for emergency procedures or tests up to a value of R8,000. Patients can apply for instant credit if as long as they have a bank account and a good credit profile.
Healthcare Finance Made Easy With MediFin
The prices cost of private healthcare in South Africa is are exorbitant, especially if you consider our low GDP. Fact is, the rates are higher than countries within the Organisation for Economic Co-operation and Development (OECD).
Fortunately, there are trustworthy companies, like MediFin, that delivers on the promise of providing affordable medical loans. It’s so easy for your patients to apply as it can be done from the comfort of their home – Apply online.
“I think the biggest problem with healthcare today is not the cost – which is a big problem – but for all that money, it’s not an expression of our humanity.” – Jonathan Bush
Who Is MediFin?
MediFin is an independent, self-funded and approved Financial Services (FSP46701) and Registered Credit Provider (NCRCP8071). They offer a wide range of insurance products and affordable healthcare finance for procedures performed by registered South African doctors and other medical practices.
Your patients can use the medical loan to cover an entire procedure or part thereof. It is also particularly helpful when their medical aid doesn’t cover certain medical expenses. You can also join our growing directory of leading general healthcare practitioners, physiotherapists, chiropractors, dentists and radiographers among many others.
MediFin can help patients process and approve medical loans within minutes and they don’t even have to talk to anyone. They can apply for healthcare finance from any internet-connected device and once approved, the funds will be paid out before the end of the day within working hours.