A report by the nonprofit Open Secrets has condemned the ‘financialisation’ of healthcare in South Africa, with researchers arguing that the private healthcare sector is being used for profit-taking by a small group of powerful actors at the expense of affordability and access for patients.
‘Who Owns South Africa’ report points to ‘commodification’ of healthcare in private sector | Daily Maverick
Originally published in Daily Maverick
Released on Tuesday, 30 September, the report spotlights the “commodification” of healthcare in South Africa, with researchers arguing that private health services are being used for profit by a small group of powerful local and international financial actors who “see healthcare as little more than a collection of assets to trade”.
“There are over nine million people covered by medical aid in South Africa, with around 4.8 million (52%) covered by open schemes. Discovery, Bonitas and Momentum, the three largest medical aid schemes… cover over four million of these,” the report states.
It comes at a key moment in the debate over South Africa’s ailing health system, as the battle over the implementation of the controversial National Health Insurance (NHI) Act – signed into law last year – manoeuvres through the country’s courts…
