Analysis of the Effect of Private Healthcare Financing on Poverty in Nigeria: Evidence from Edo State

Olaniyi O () and Abubakar Idris ()

Asian Journal of Economics and Empirical Research, 2021, vol. 8, issue 2, 73-80

Abstract: Poverty is one of the problems that challenge economies in Africa. Though it is a complex phenomenon which requires efforts by different experts to reduce or eliminate, conventional wisdom posits that “health is wealth”. Health status is a component of human capital development which plays a fundamental role in the poverty and well-being of individuals and national economies. Paradoxically the cost of accessing quality healthcare is an important contributor to income poverty among low income households. Thus adequate healthcare financing mechanisms (public and private) are required to attain quality health outcomes. This study therefore investigates the adequacy or otherwise of the current means of private health care financing in Edo state of Nigeria and it employed the survey method and multinomial logistic regression technique. Results revealed that the dominant means of private health care financing in Edo state is “out of pocket” payments which has negative effect on the income of households. It therefore recommends the introduction of a more effective collective healthcare financing mechanism to mitigate the financial burden associated with out-of-pocket spending. Also funding should be provided for research and development of locally manufactured drugs with high local content to enhance the availability and affordability of effective drugs.

Keywords: Healthcare financing; Health status; Out-of-Pocket payment; Poverty; Multinomial logistic; Households. (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.asianonlinejournals.com/index.php/AJEER/article/view/3331/2156 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aoj:ajeaer:v:8:y:2021:i:2:p:73-80:id:3331

Access Statistics for this article

More articles in Asian Journal of Economics and Empirical Research from Asian Online Journal Publishing Group
Bibliographic data for series maintained by Sara Lim ().