Many students in South African higher education have so much to worry about—from affording their studies to acing their academics—that taking good care of their health can be filled with barriers. Established finance and fund management specialist company, Fundi, has now launched a solution with the help of corporate partners that speaks directly to these challenges.
FundiHealth was recently launched at a Mail & Guardian event called Bridging the Gap: Innovation & Partnership for Student Health, which featured panel discussions and talks by key industry players.
Moderator Thembikile Mrototo noted that it is a particularly important year for a discussion of this nature, since it is the tenth anniversary of the Fees Must Fall protests that swept university campuses around the country.
“The conversation then was about getting access to higher education at a very basic level, for everyone,” he said. “But once you get on campus, how do we keep you there and make sure that you are able to complete your degree, and ultimately, go out into the world of work?”
FundiHealth is addressing this very challenge in different ways, and Fundi CEO Maia Suriah says it has long been in the pipeline. “It’s really been a dream for us. We’ve been wanting to do this for a few years now, and I am so delighted that the day has arrived.”
Fundi was previously called EduLoan and grew from offering student loans to supporting those studying in multiple ways, from bursaries to accommodation. Over the last almost thirty years, the company has helped over 2.2 million South Africans.
The newest offering aims to support students physically, mentally and psychosocially, to be able to complete their studies well. FundiHealth is a platform that helps integrate the various steps of the healthcare journey.
For instance, insurance products, through partner Momentum Health Solutions, allow students to access medical aid for as little as R290 per month. Charles Irumba, the Executive Director of Fundi Health, humorously said that they wanted to find a solution that costs as much as a six-pack of beer in order to make the financial commitment manageable for students.
The virtual health services available through Fundi Health allow for digital wellness checks, access to doctors and digital diagnostic results. “We’re not saying we’re waiting for people to fall sick,” Irumba said. “Every one of us needs some health and wellness, and that comes through the [wellness] checks. “
There is also a focus on discounts and wellness rewards to allow for more immediate benefits for students.”
“A lot of young people who are in the job market ask themselves, why they have to pay when they are not claiming and are not getting anything out,” Irumba explained.
Dr Katlego Mothudi, the Managing Director of the Board of Healthcare Funders, is excited about FundiHealth because it encourages young people to take responsibility for their health early on. “We often have this challenge of defining health as the absence of illness, but we should change the paradigm and think about healthcare more as a promotive or preventative aspect of our lives. “
He said that universities can play a crucial role in closing the gap in access to healthcare in the country. He suggests that student health cover should perhaps even be considered a compulsory contribution.
Mothudi explained that while there is a lot of government action around healthcare, the laws and policies tend to move slowly. This makes public-private partnerships and private-private partnerships particularly important. “We need to take responsibility through initiatives like this.”
The Chairperson of Lancet Laboratories, who is the diagnostics partner, Dr Ezra Masenya, agrees. “Universities have a role to play, and we’ve got to equip our students to be able to use those resources.” For instance, he points out that many students from rural areas may not know how to access healthcare options on campus and may appreciate additional support.
Masenya emphasises that FundiHealth can help students be one step ahead of illnesses. He appreciates the focus on students from all areas, not just cities. “When intervening, we can create a workforce that is healthy, and we grow our economy as a country,” he said.
Damian McHugh, the Chief Marketing Officer at Momentum Health Solutions, adds, “What Fundi has done here is not just provide students access to healthcare. It’s alleviating the burden on the state, because these students would have gone into a public facility. “
McHugh points out that the focus on younger people and students for healthcare solutions is particularly important, since they might feel like they are invincible because they are young. It is often only when someone becomes sick, he says, that they may realise how important healthcare is.
“It’s up to us as organisations and partnerships that come together to make students and all of us realise that the absence of that healthcare is the most expensive thing we would give up. “
McHugh said that this kind of work can have a large impact on the greater South African healthcare landscape and act as an inspiration to others. “As a private industry, working together with government, we can really make a positive change in our country, and that’s really why I think what Fundi is doing here for the student is great., bBut, it also sets examples for other sectors.”
Suriah noted that there is great hope that the FundiHealth model will have a significant impact on the industry. “Together, we can change the face of South African education,” she said.
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FundiHealth offerings at a glance
- FundiLyte: A wallet-based plan for R220 per month, including virtual doctor consultations, telemedicine prescriptions, 24/7 emergency services and wellness programs.
FundiPlus: A protective health cover insurance plan for R290 per month that includes specialised medical cover and hospitalisation benefits.