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As healthcare costs rise, particularly in 2024, affordability remains a pressing concern for many Nigerians. Kier emphasizes that medical diagnostics are a volume-based business, necessitating a shift towards improved insurance penetration to alleviate the financial burden on patients. Currently, less than 8% of Nigerians have access to formal health insurance, compelling many to pay out of pocket—often prioritizing essentials over healthcare.
By effectively managing insurance systems and expanding coverage, Sin Lab aims to make quality healthcare more accessible to the general populace.