This mobile money system helps people save specifically for medical expenses. Modelled after Kenyan telemedicine platform M-Pesa, M-Tiba is a mobile savings account for health care.
PharmAccess allows people to save funds for emergency situations. It can also be used for aid groups to more efficiently distribute finances directly. The service "allows anyone to send, save and spend funds specifically for medical treatment." Funds stored in their accounts can only be accessed by partner hospitals and clinic facilities. So far over 300 health care providers have agreed to accept payments through the mobile money system. Users could also use the savings to empower loved ones to live a healthier life by ensuring they have access to licensed health care centers.
Medical Mobile Savings Accounts
The M-Tiba Mobile Money System Lets You Save Funds for Health Care
Trend Themes
1. Mobile Money Systems for Healthcare - Disruptive innovation opportunity: Develop a mobile money system that allows people to save specifically for healthcare expenses, providing a more convenient and efficient way to manage medical savings.
2. Telemedicine Platforms - Disruptive innovation opportunity: Explore the development of telemedicine platforms like M-Pesa and M-Tiba, which enable remote healthcare services and financial transactions for medical treatment.
3. Efficient Financial Distribution for Aid Groups - Disruptive innovation opportunity: Create a system that allows aid groups to distribute finances directly and more efficiently to individuals in need, such as the PharmAccess model.
Industry Implications
1. Healthcare - Disruptive innovation opportunity: Implement mobile money systems and telemedicine platforms in the healthcare industry to improve access, affordability, and convenience for patients and healthcare providers.
2. Financial Technology (fintech) - Disruptive innovation opportunity: Integrate mobile money systems with healthcare needs within the fintech industry, enabling secure and transparent financial transactions for medical purposes.
3. Nonprofit and Aid Organizations - Disruptive innovation opportunity: Develop efficient financial distribution systems for nonprofit and aid organizations, allowing them to directly support individuals in need, like the PharmAccess model for emergency situations.