Nigerian healthtech company MyItura has launched Mediloan, a new financing product designed to help Nigerians pay for healthcare bills without the immediate burden of out-of-pocket expenses. The launch addresses one of the country’s most persistent challenges: access to affordable healthcare financing in a system where most medical costs are still paid directly by patients.
Mediloan allows patients to spread the cost of medical treatments over time, reducing the financial shock that often comes with emergencies, surgeries, or long-term care. In Nigeria, where health insurance penetration remains low and the National Health Insurance Authority (NHIA) coverage is limited, many families delay or avoid treatment due to cost. MyItura is positioning Mediloan as a bridge between healthcare providers and patients who need flexible payment options.
Through the product, eligible patients can receive short-term loans to cover hospital bills, diagnostic tests, medications, and other approved medical services. Repayments are structured in installments, making it easier for individuals and families to manage healthcare expenses alongside daily living costs. MyItura says Mediloan is designed to be fast and accessible, with a streamlined application process that reduces paperwork and approval times.
For healthcare providers, Mediloan also offers benefits. Hospitals and clinics can receive payments upfront, improving cash flow and reducing the risk of unpaid bills. This is particularly important for private healthcare facilities, which make up a large portion of Nigeria’s healthcare system and often struggle with delayed or incomplete payments from patients.
The launch of Mediloan reflects a broader trend in Nigeria’s fintech and healthtech sectors, where startups are building solutions at the intersection of finance and essential services. Similar to buy-now-pay-later models in retail, healthcare financing products are gaining traction as inflation and rising medical costs put more pressure on households.
MyItura, which has focused on improving healthcare access and administration, sees Mediloan as part of a larger mission to make quality healthcare more affordable and predictable for Nigerians. By reducing the upfront cost barrier, the company hopes more people will seek timely medical care rather than postponing treatment until conditions worsen.
As Mediloan rolls out, its success will likely depend on partnerships with hospitals, responsible lending practices, and trust from users. If executed well, the product could play a meaningful role in easing healthcare affordability challenges across Nigeria.
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