The business of care can be challenging for private healthcare providers in Kenya. Facility owners are constantly seeking ways to improve their facilities.
The business of care
Business can be challenging for private healthcare providers in Kenya. Facility owners are constantly seeking ways to improve their facilities so as to:
- Attract and retain paying clients
- Improve quality and meet acceptable standards and regulatory requirements
- Get financing for purchasing new equipment and for expansion
- Be enabled to connect to health financing programs and risk pools
- Build up a more reliable and predictable income stream
- Access affordable and independent quality and business advice
At the same time patients want to be treated at a healthcare facility that meets all the above standards.
What is M-TIBA?
M-TIBA is a “health wallet” on the mobile phone that allows your patients to set funds aside for healthcare, thereby improving their financial capability to access your services. M-TIBA will regularly be updated with new products. Once you will be selected to become part of the M-TIBA network of healthcare providers, you will be the first to receive information on these new products and how to become eligible to offer them to your patients.
Why should I join M-TIBA NOW?
Funds stored in M-TIBA can only be used to pay for services and medication at specific healthcare facilities that are contracted by CarePay and PharmAccess to offer M-TIBA. By joining M-TIBA you immediately gain access to an expanding pool of M-TIBA users within your catchment area and tap into a target market that has reliable healthcare financing. This should lead to a more reliable and predictable income stream for your facility. Clients can pay from their M-TIBA directly into your healthcare facility’s M-TIBA account. Funds in your facility’s M-TIBA account can be immediately withdrawn into your M-PESA or bank account.
Benefits to M-TIBA healthcare providers
- Access to more paying clients with accessible funds in their M-TIBA health wallet
- Increased revenue collection because you serve clients with ability to pay
- Better security by shifting from cash to digital transactions.
- Free financial and clinical performance dashboards for decision making
- Fast reimbursement for services offered
- Access to unsecured loan products through M-TIBA “Cash Advance”
- Free quality assessment and quality improvement plan
How it Works
- 1% transaction fee on all M-PESA transactions
- 2.5% transaction fee on all M-Tiba payments
- 16% VAT
- Bank charges for withdrawal of funds (if applicable)