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Authors: Lolita Aranas, Rasheda Khanam, Mafiz Rahman, Enamul Kabir, Lolita Aranas
Keywords: Microfinance, Microcredit, Healthcare cost, Medical cost, access-barrier tto healthcare utilization
Abstract: The Philippine public health sector had identified restrictive poverty-driven healthcare cost as one of its challenges. It compels people to delay or forgo needed medical care, which eventually can lead to disease progression or worse, death. The health sector, however, is insufficient on its own to address the challenge. This study is a systematic review that focused on the roles of Microfinance Institutions (MFIs) in promoting community health and welfare to the marginalized population and suggests how the findings can be applied in reducing medical cost and access-barriers to healthcare utilization. More so, this study provides insights that will guide the health promotion practice among MFIs and add valuable information to answer the call of Healthy Philippines 2022 in eliciting sectoral, and stakeholders support for health. A rigorous systematic process was drawn online and hand-searched using the search terms microfinance OR microlending OR microcredit OR micro-finance, "medication costs" OR "cost of medical care" OR "cost of health care" OR "healthcare costs" OR "medical costs" OR "health care costs". EBSCOHost database was featured alongside other databases such as EconLit, RePEc, Web of Science, PubMed and Science Direct. Grey literature from the Philippines was also considered; however, subjected to scanning for eligibility from the review team. 355 articles were reviewed based on title and abstract, 70 reconsidered for further readings, and ten articles qualified into inclusion. The preliminary review suggests that MFIs mostly utilized microloans, micro-insurances, and health education, and less with health or medical care service cost-reducing strategies like a subsidy, partnership with medical organizations offering free or discounted rates on medical utilities. This paper is ongoing to further search for MFIs cost-reducing interventions against health/medical care services and fill the knowledge gap that exists about microfinance and its role in reducing access-barrier to health/medical care service utilization.