How can quality healthcare be more accessible and affordable for Filipinos?

The state of healthcare in the Philippines

Despite the presence of highly skilled medical personnel, access to quality healthcare in the Philippines is limited, especially for those who depend on government facilities and funding. Public healthcare facilities, while striving to serve the underserved, often suffer from overcrowding, limited resources, and outdated equipment.

Data from the Department of Health (DOH) reveal that in 2022, there were approximately 10 hospital beds per 10,000 population, far below the World Health Organization’s (WHO) recommended ratio of 20 beds per 10,000 people. In rural areas, this gap is even more pronounced. Furthermore, while PhilHealth—the national health insurance program—covers a portion of medical expenses, it frequently falls short, leaving patients to shoulder substantial out-of-pocket costs. For instance, a 2023 report showed that PhilHealth coverage often only accounts for 30-40% of total hospital bills, with the remaining amount becoming a heavy financial burden for families.

Expert opinions: Accessibility is key

Doctors and healthcare experts weighed in during the launch of the Best of the Philippines - The Medical Tourism Coffee Table Book last year, which was graced by many of the country’s top medical experts. When asked how the Philippines can be the next big medical tourism destination, aside from enlightening us on the promises and challenges of making it happen, they also gave insights on a matter that hits closer to home, how can quality healthcare be more affordable and accessible to ordinary Filipinos? And here’s is what they have to say:

While we have excellent medical professionals, the systemic barriers in our healthcare system prevent many Filipinos from receiving the care they need. Financial strain is a leading factor. When people avoid seeking medical attention due to cost concerns, illnesses worsen, leading to more complicated and expensive treatments later. This cycle perpetuates inequality and poor health outcomes.

Critical Illness Insurance bridge the financial gap in healthcare costs

For many Filipinos, critical illness insurance offers a lifeline. This type of insurance provides a lump-sum payout upon diagnosis of severe illnesses such as cancer, stroke, or heart disease. Here’s how it can help:

1. Covers treatment costs
   Critical illnesses often require expensive treatments, including surgeries, chemotherapy, and prolonged hospital stays. The payout from critical illness insurance can offset these costs, ensuring patients receive the care they need without depleting their life savings.
2. Supplementing PhilHealth and HMOs
   While PhilHealth and health maintenance organizations (HMOs) offer some level of coverage, their limitations often leave significant gaps. Critical illness insurance can fill these gaps, providing additional financial support to cover treatments, medications, and other associated costs.
3. Supporting daily expenses
   A critical illness not only affects health but also disrupts livelihoods. The financial support from insurance can help cover daily living expenses, ensuring families remain financially stable during recovery periods.
4. Reducing stress and promoting recovery
   Knowing that financial resources are available allows patients to focus on their recovery instead of worrying about medical bills. This peace of mind can significantly enhance the healing process.

Here are some FWD critical illness insurance plans that you can check out:

• FWD Set for Health protects you and your family from future financial expenses if you get diagnosed with any of the covered 42 major and 9 minor critical illnesses or if the unexpected happens. Plus, get all your paid premiums back if you never make a major critical illness claim by age 75. Get an instant quote.
  

• FWD Vibrant is your complete life and health insurance from wellness to recovery. Its unique features and benefits help you take better care of your health with proper health screening and maintenance, coverage from unexpected critical illnesses, and a supplement benefit for your treatment and recovery. Learn more about FWD Vibrant.
  

• FWD BIG 3 is a protection plan that covers the top 3 most common critical illnesses in the Philippines. Receive cash benefit when you get diagnosed with any of the 3 leading critical illnesses: cancer, heart attack, or stroke. Get an instant quote.
  

• FWD Babyproof insurance plan is designed for your baby’s needs: from life protection and investment to hospital and ICU allowance, should you need it. This plan consists of a VUL base plan of either Set for Life or Manifest with RecoveryPro and SurePro for Owner or Insured. Learn more about FWD Babyproof
  

• FWD The One is an affordable insurance plan allows you to select a plan, add-on benefits, and coverage amount that match your need and lifestyle. Get an instant quote.
  

• FWD KanMend is an affordable annual insurance plan you can buy for yourself or gift to your loved ones so they can be protected too. Learn more about FWD KanMend.
  

Protect your finances from life’s uncertainties

The unpredictability of critical illnesses underscores the importance of having a financial safety net. In a country where access to affordable healthcare remains a challenge, critical illness insurance empowers individuals to take control of their health and finances. In today's world, insurance is not just a luxury; it’s a necessity because it provides security and ensures that Filipinos can access the care they deserve when they need it most.

By investing in critical illness insurance, Filipinos can protect themselves and their families from the financial devastation that often accompanies severe health conditions. In doing so, they not only secure their futures but also take a step closer to bridging the gap in healthcare accessibility in the Philippines.

Need help exploring your options? Find a critical illness insurance plan that suits your needs.

Sources:

WHO: Phl hospitals have bed shortage – Daily Tribune, October 2024
Rising hospital costs cancel out expanded PhilHealth benefits – Vera Files, September 2024