Reliability is key when it comes to drawing investors. When hospitals and clinics demonstrate quality of care through improvements – like shorter waiting times, well-trained staff, functioning equipment and readily available medicines – investors gain trust in the healthcare system.
However, for health markets in developing countries that often face low trust and high transaction costs, it can be difficult to attract investors, entrepreneurs and banks. Healthcare providers are often unable to finance quality improvements. As a result, hospitals are overburdened, understaffed and poorly stocked. They need investors to make improvements, but they must first show a functional healthcare system. The cycle continues.
PharmAccess uses an integrated approach to reverse the cycle and build trust throughout the healthcare system in Africa. They mobilize private and public resources and they use these resources to provide loans to doctors and raise clinical standards. The improvements encourage systemic changes.
And they motivate donors and investors, making good healthcare a greater possibility for everyone in Africa.