Michael Parsons is Director of the Financial Foundations Programme at Impact on Urban Health. He’s at the forefront of a highly impactful initiative to improve the health of patients across South London by offering them cash incentives. The government’s 10 Year Health Plan seeks to integrate debt support into new neighbourhood health services, highlighting the crucial link between financial stability and health.
The Back on Track scheme runs out of 34 practices across Lambeth and Southwark. This has made the program an indispensable source of support for low-income people. The program’s evidence shows a phenomenal trend. Patients who had received advice through this initiative were one-third less likely to report going to their GP as often. More than 1,100 participants have gone on to successfully obtain benefits through the program. They’ve paid down debt and indicated they have less stress.
As Impact on Urban Health’s evaluation report shows, over half of participants experienced measurable improvements in health. This increase came on the heels of their targeted assistance—separate from other municipalities—to overcome their unique fiscal woes. The initiative supports services to guide people through the process of claiming benefits, renegotiating repayment terms with creditors and receiving debt cancellations.
Vikesh Sharma, a GP in South London, explained what happened when he took advantage of the scheme. He told a riveting story of a woman in her 40s. For six months, she went to medical professionals complaining of heart palpitations.
“Over six months, a woman in her 40s saw us several times for heart palpitations. She wasn’t sleeping, had lost confidence in physical activity and was struggling to find work.” – Vikesh Sharma
Sharma highlighted how the transformation of health care by combining financial advice with medical care has been revolutionary. He wondered how successful treatment could possibly be if we weren’t repairing the financial problems underneath.
“Without that offer of specialist help, how could I have centred financial health in her care, or expected her to accept it as the root issue with no solution?” – Vikesh Sharma
Put together, Michael Parsons underscores an important connection between financial health and physical health. He finds it interesting how quickly people’s health deteriorates the minute someone starts to have financial trouble.
“What we see over and over again is that people’s health is determined by their finances and when they get into money trouble, it makes their health worse.” – Michael Parsons
This creative method is extremely beneficial for those who are suffering from chronic illnesses. It backs people who are often first in line for low-paid work or stuck in unemployment. It shouldn’t be surprising that the vast majority end up in debt fighting just to get the care they need. The Financial Shield initiative, supported by the British Bankers’ Association, delivers money management support within GP practices. This improves doctors’ ability to treat their patients’ underlying health conditions, ultimately improving overall patient health.
Ife, a 62-year-old Stockwell resident, one of the many beneficiaries of the Back on Track project. She thanked her community for wrapping around her with support during an otherwise dark moment.
“When the doctors’ surgery told me about Back on Track it was such a relief. The complex PIP and UC claims forms were very stressful – I really wouldn’t have managed financially without my link worker’s support.” – Ife
The results from the Back on Track scheme indicate a growing recognition of the importance of addressing economic factors affecting health. According to programme data, this assistance temporarily relieves fiscal stress and positively affects the physical health of participants.
