Revolutionizing Indian Healthcare: A New Era for OPD Insurance
Visit Health's new report with the India InsurTech Association highlights the urgent need to expand OPD insurance in India due to high medical costs, with only 0.1% of the OPD market insured. It predicts major growth and reform driven by government initiatives, technology, and stakeholder collaboration.
- Country:
- India
In New Delhi, Visit Health, India's leading digital healthcare platform, unveiled a critical report on July 1st in partnership with the India InsurTech Association. The report, titled 'The Changing Landscape of OPD Insurance in India,' advocates for expanding outpatient department (OPD) insurance to tackle soaring medical costs and growing healthcare challenges.
With medical inflation in India at a staggering 14%, and nearly 40% of healthcare expenses borne directly by families, the report positions OPD insurance as a fundamental component of healthcare for Indian citizens. Anurag Prasad, Co-founder of Visit Health, emphasized the necessity of mainstreaming OPD insurance to achieve true universal health coverage in India.
The report also highlights technological advancements and policy reforms as key drivers for the future of OPD insurance, referencing initiatives like the IRDAI's 'Insurance for All' vision by 2047 and the development of the National Health Claims Exchange (NHCX). Furthermore, it points out a significant demand for OPD services, rising from 5% in FY21 to 20% in FY24.
(With inputs from agencies.)
Google News