Finance

Leadway Health pays over N800m bills for customers

Leadway becomes first insurance coy to cross N104.4bn in total premium

In a deliberate bid to prove the efficacy of its health insurance scheme and demonstrate the critical financial benefit of enrolling on its quality healthcare management services, Health Management Organisation, Leadway Health Limited, said it footed the medical bills of its over 62,000 enrollees to the tune of almost One Billion Naira in one year.

Managers of the firm stated this while highlighting the organisation’s achievement during its one year in business anniversary.

Speaking on the achievements, Chief Executive Officer, Leadway Health Limited, Dr Tokunbo Alli stated that the milestones achieved align with the firm’s vision to deliver access to unmatched quality healthcare management services and solutions to Nigerians without financial exposure or the burden of out-of-pocket payments.

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“As of 2018, there were about 57 Health Management Organisations (HMOs) in Nigeria, according to Statista, yet nearly 97 per cent of people surveyed in Nigeria did not have any health insurance. Only about three per cent of individuals had health insurance, mainly on employer-based coverage. 

“We are here to reverse that narrative and disrupt the market. I believe this goal we set for ourselves is achievable. In the last 365 days, despite challenges in the economy, we have enrolled over 62,000 individuals and 120 corporate clients into our service. We have also set out to build a robust healthcare management network with capable service partnerships and have thus engaged about 2,500 healthcare providers and signed over 1,600 pharmacies nationwide, “Alli said.

He said within the same period, the firm and its managers have demonstrated the value that enrollees on Leadway Healthcare management service would consistently enjoy having picked up over 800 million Naira worth of medical bills for them. 

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“This amount paid in claims is indicative of the critical role health management services play in accessing healthcare without an additional burden of financial exposure. It is crucial to note that these Nigerians would foot these bills out-of-pocket to access healthcare in this critical COVID19 recovery era, “he stated. 

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He said more than 190 million Nigerians, according to the country’s National Health Insurance Scheme, were still paying out-of-pocket to access medical services, adding that the ordinary Nigerian, small businesses, and households are constrained by unplanned and enormous cash payment to get good healthcare. 

“At Leadway Health, we are aware of these limitations and are poised to bridge this gap by ensuring citizens have access to effortless, affordable, and superior healthcare delivery service, “he added.

Thisday

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