Transforming Healthcare Financing in Africa: Checkups Cova’s Innovative Approach

Renee Ngamau, Co-Founder and President, and Dr. Moka Lantum, Co-Founder and CEO, introduce Checkups Cova, a groundbreaking health financing and benefits management platform poised to revolutionize healthcare financing and accessibility in Kenya and Africa.

“We looked at the challenge of financing healthcare and how to resolve it for families, employers, enterprises, and institutions. The answer we have come up with is Checkups Cova. We are a finance-embedded healthcare benefits management platform. What does that mean? We help enterprises, institutions, companies, employers, and businesses finance, pay for, and manage healthcare benefits. They can then pass these benefits on to their employees, who can share them with whomever they want—African style. What do I mean by African style? We recognize that our family structure is not the commonly defined nuclear family. The person who works or runs a business today will be looked to by the rest of the family, including extended family, parents, grandparents, aunts, uncles, cousins, nephews, nieces. Additionally, within their community, they will be relied upon by their own employees and others for help with healthcare bills. We unlock the health benefits and allow the person who accesses them to distribute and share them with whoever is within their ecosystem. That is what we mean by African style”, says Renee Ngamau.

“So, we enable that distribution on our platform. Here is our magic formula: we address the question of cost. We ask ourselves, how do we create the greatest value for healthcare benefits? If you buy healthcare benefits in Kenya, you might pay 100 or 1000 shillings. But in the market, that 1000 shillings is subject to price fluctuations. We take that same 1000 shillings and maximize its value. We have figured out the formula to 4x the money paid onto our platform, so you get four times more value compared to the market rate. Your 1000 shillings becomes 4000 shillings worth of healthcare benefits, which you can distribute to whoever you need. There are no exclusions due to age, no exclusions for pre-existing conditions, and no wait time between payment and when you can start enjoying the benefits. You can distribute them to whomever you want. This way, we address the issues of financing and distribution, which are currently the greatest barriers to achieving some kind of universal healthcare”, she adds.

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