Mitigating role of financial inclusion on the perceived difficulties, concerns, and borrowing for medical expenses in Saudi Arabia
Abstract Access to convenient quality healthcare at all times is considered a basic human right; however, many countries are still striving to achieve this goal for their populations. The persistent rise in healthcare expenditure remains a significant obstacle in achieving universal health coverage...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
BMC
2024-01-01
|
| Series: | Cost Effectiveness and Resource Allocation |
| Subjects: | |
| Online Access: | https://doi.org/10.1186/s12962-023-00506-z |
| _version_ | 1797355727812034560 |
|---|---|
| author | Mohammed Khaled Al-Hanawi Naseem Al Rahahleh |
| author_facet | Mohammed Khaled Al-Hanawi Naseem Al Rahahleh |
| author_sort | Mohammed Khaled Al-Hanawi |
| collection | DOAJ |
| description | Abstract Access to convenient quality healthcare at all times is considered a basic human right; however, many countries are still striving to achieve this goal for their populations. The persistent rise in healthcare expenditure remains a significant obstacle in achieving universal health coverage on a global scale. The aim of this study was to investigate the role of financial inclusion in addressing the financial hardship related to health and medical expense concerns in the Kingdom of Saudi Arabia. Probit models were applied to analyse nationally representative data from the Global Financial Inclusion (Global Findex) database. The results showed that financial inclusion had a significant impact on reducing the hardship associated with obtaining money for emergency expenses within 30 days as indicated by a significant coefficient of -0.262. Additionally, Financial inclusion substantially increases the likelihood of borrowing money for health or medical purposes in the past 12 months, with a coefficient of 0.585. Moreover, correlations were identified between low income levels and decreased likelihood of borrowing for health/medical purposes, increased difficulty in obtaining money for emergency expenses, and heightened concern regarding the ability to afford medical costs in the event of serious illness or accidents. These findings highlight the need for policy makers and health providers to prioritize financial inclusion and support programs for low-income individuals to achieve equity in health treatment for all in Saudi Arabia. |
| first_indexed | 2024-03-08T14:16:09Z |
| format | Article |
| id | doaj.art-7456d135a04f4c88b02cca45405a8e74 |
| institution | Directory Open Access Journal |
| issn | 1478-7547 |
| language | English |
| last_indexed | 2024-03-08T14:16:09Z |
| publishDate | 2024-01-01 |
| publisher | BMC |
| record_format | Article |
| series | Cost Effectiveness and Resource Allocation |
| spelling | doaj.art-7456d135a04f4c88b02cca45405a8e742024-01-14T12:24:46ZengBMCCost Effectiveness and Resource Allocation1478-75472024-01-0122111010.1186/s12962-023-00506-zMitigating role of financial inclusion on the perceived difficulties, concerns, and borrowing for medical expenses in Saudi ArabiaMohammed Khaled Al-Hanawi0Naseem Al Rahahleh1Department of Health Services and Hospitals Administration, Faculty of Economics and Administration, King Abdulaziz UniversityFinance Department, Faculty of Economics and Administration, King Abdulaziz UniversityAbstract Access to convenient quality healthcare at all times is considered a basic human right; however, many countries are still striving to achieve this goal for their populations. The persistent rise in healthcare expenditure remains a significant obstacle in achieving universal health coverage on a global scale. The aim of this study was to investigate the role of financial inclusion in addressing the financial hardship related to health and medical expense concerns in the Kingdom of Saudi Arabia. Probit models were applied to analyse nationally representative data from the Global Financial Inclusion (Global Findex) database. The results showed that financial inclusion had a significant impact on reducing the hardship associated with obtaining money for emergency expenses within 30 days as indicated by a significant coefficient of -0.262. Additionally, Financial inclusion substantially increases the likelihood of borrowing money for health or medical purposes in the past 12 months, with a coefficient of 0.585. Moreover, correlations were identified between low income levels and decreased likelihood of borrowing for health/medical purposes, increased difficulty in obtaining money for emergency expenses, and heightened concern regarding the ability to afford medical costs in the event of serious illness or accidents. These findings highlight the need for policy makers and health providers to prioritize financial inclusion and support programs for low-income individuals to achieve equity in health treatment for all in Saudi Arabia.https://doi.org/10.1186/s12962-023-00506-zFinancial inclusionFinancial hardshipHealthcareMedical expensesSaudi Arabia |
| spellingShingle | Mohammed Khaled Al-Hanawi Naseem Al Rahahleh Mitigating role of financial inclusion on the perceived difficulties, concerns, and borrowing for medical expenses in Saudi Arabia Cost Effectiveness and Resource Allocation Financial inclusion Financial hardship Healthcare Medical expenses Saudi Arabia |
| title | Mitigating role of financial inclusion on the perceived difficulties, concerns, and borrowing for medical expenses in Saudi Arabia |
| title_full | Mitigating role of financial inclusion on the perceived difficulties, concerns, and borrowing for medical expenses in Saudi Arabia |
| title_fullStr | Mitigating role of financial inclusion on the perceived difficulties, concerns, and borrowing for medical expenses in Saudi Arabia |
| title_full_unstemmed | Mitigating role of financial inclusion on the perceived difficulties, concerns, and borrowing for medical expenses in Saudi Arabia |
| title_short | Mitigating role of financial inclusion on the perceived difficulties, concerns, and borrowing for medical expenses in Saudi Arabia |
| title_sort | mitigating role of financial inclusion on the perceived difficulties concerns and borrowing for medical expenses in saudi arabia |
| topic | Financial inclusion Financial hardship Healthcare Medical expenses Saudi Arabia |
| url | https://doi.org/10.1186/s12962-023-00506-z |
| work_keys_str_mv | AT mohammedkhaledalhanawi mitigatingroleoffinancialinclusionontheperceiveddifficultiesconcernsandborrowingformedicalexpensesinsaudiarabia AT naseemalrahahleh mitigatingroleoffinancialinclusionontheperceiveddifficultiesconcernsandborrowingformedicalexpensesinsaudiarabia |