The cost of a hospital visit has kept many Filipinos away even at a time when health issues are aplenty. Doctors’ fees and the cost of lab tests and medicines can add up, putting significant financial pressure on a person. This is especially true for the working-class population, many of whom live from paycheck to paycheck with minimal savings, if at all.
“Looking at the healthcare situation in the Philippines, we noticed some pain points. Firstly, only around 6 percent of our kababayans are covered by HMO insurance. For those who aren’t covered, all these clinics and services are luxuries that they simply cannot afford.
Second, a report from the DOH in 2019 said that 99 percent of Filipinos are unable to purchase the complete set of medicines doctors prescribe to them,” Sureserv president and founder Juan Carlos Bondoc said.
This led to him creating Sureserv, a Filipino microfinance service provider that aims to help cater to the healthcare financial needs of working-class Filipinos. Since its conception in 2019, SureServ has benefitted manufacturing, manpower, retail, SME, and BPO employees from private corporations who have availed their services. The pandemic which hit in 2020, only served to highlight the need for quality healthcare that could be conveniently accessed by everyone right at their fingertips.
The requirements for signing up for an account in the app are a valid government ID, proof of billing, a pay slip for full-time employees or an income tax return for freelancers, and a selfie. App users who are full-time employees may pay back their credit through salary deduction. Others may also pay via accredited payment channels such as BDO, BPI, and Unionbank.
Unlike other lending companies which operate on an open system, Sureserv employs a closed loop system where members from corporations, employee beneficiaries, service providers, and partners can make convenient and secure transactions using the healthcare credit line app. This ensures that the credit line is used solely for healthcare needs and users can quickly monitor their spending.
Registered users will be given a credit line starting at P3,000 pesos which can be increased to up to P8,000 pesos following a good payment record. This can be used to pay for doctors’ fees, tests, and medicine from partner companies. Currently, Surserv can be used at Aventus Medical Care, Healthcube, MyHealth Clinic, New World Diagnostics, Capitol Medical Center, LDR Medics Inc, MedExpress, Mediclick, Southstar Drug, and Rose Pharmacy; with more partners to come down the road.
