Deepak Batra

Nitya Agarwal (VP) discusses the growing investment and innovation in India's healthcare sector, noting a significant increase in health expenditure and the rise of insurance penetration. Key initiatives like Ayushman Bharat PM-JAY improve patient outcomes through digital health interfaces and electronic health records. The article underscores India's potential in global healthcare innovation, driven by cost-efficient research and development, particularly in pharma and biotech. In-depth read on our blog: https://t.ly/hrzrH #healthcare

52

India is aiming to replicate "the UPI moment" for Insurance & Claims. Cumulative effort is required from IRDAI, Hospitals, TPAs and Insurtech to eradicate these woes. With ecosystem transformation like NHCX, FHIR API formats, ICD codes etc, that eureka moment maybe around the corner. Partner with Drona Pay to help you move to a Real Time Analytical Engine to improve your Claims Decisioning #claimsautomation #stp #healthinsurance #irdai #realtimeanalytics #ai #ml #claimsdecisioning https://lnkd.in/dgQKVkAb

5

Rupinderjit Singh, SVP - Retail Health Insurance at Acko, writes about the transforming digital health infrastructure in India brought in by the NHCX. Read the article to know how this move by the Ayushman Bharat Digital Mission (ABDM) aims to bring in a faster and more efficient health insurance claims experience for customers. Link to the entire article is in the comments.

50

1 Comment

Revolutionizing health insurance in India: ABHA ID and NHCX set to transform claims processing. As Narendra Kumar Bharindwal explains, 'ABHA ID creates a centralized repository for your medical records, simplifying the sharing process with healthcare providers and insurers.' Learn how this digital leap could benefit patients and the industry. LiveMint feature story by Aprajita Sharma, CFP® #HealthInsurance #DigitalTransformation #ABHAID #NHCX #InsurTech #HealthcareInnovation

8

In an interview with Dataquest, our Co-Founder and CTO, Ish Babbar shares how new technologies are reshaping the insurance industry and driving customer satisfaction. To discover how InsuranceDekho is navigating the future of insurtech, click here to read the article: https://lnkd.in/g9JgQJXj #Insurtech #Technology #Insurance #IndustryInsights #InsuranceDekho

84

#MCPersonalFinance | "#HealthInsurance in #India is underpriced, much lower than what it should be," says Narayana Health's Viren Prasad Shetty. Read for more details 👇 #Insurance #Health

4

In the world of healthcare, dealing with claims and bills has long been a complex and time-consuming process. Enter India's National Health Claims Exchange (NHCX) - a game-changing digital platform set to revolutionize how we handle healthcare claims.

2

#LIC set to enter health insurance sector, aiming for major market share Life Insurance Corporation (LIC), India's largest insurer, is gearing up to enter the #health #insurance market with ambitions to secure a significant share. This strategic move was confirmed by a top official, indicating LIC's intent to become a key player in this rapidly growing sector. The #life #insurance industry has been eagerly awaiting government amendments to the Insurance Act that would introduce a #composite #licensing regime. Such a regime would allow life insurers to offer non-life products, including lucrative health insurance policies. Currently, India’s insurance market comprises 70 players, with a mix of #standalone #health insurers and those offering both life and #general #insurance products.

32

Big News: NHCX to Transform Health Insurance Claims Kauvery Hospitals Bangalore is at the forefront of embracing the National Health Claim Exchange (NHCX), a revolutionary digital platform set to transform health insurance claims processing across India. Developed under the Ayushman Bharat Digital Mission, NHCX promises to streamline claims, reduce administrative burdens, and enhance patient satisfaction. Key Benefits; 1. Faster Claims Processing: Electronic submissions and standardized data formats will significantly reduce paperwork and expedite approvals, enhancing cash flow for hospitals. 2. Improved Patient Experience: Patients will benefit from quicker claim settlements, making healthcare more accessible and stress-free. 3. Transparency and Efficiency: A centralized platform ensures better tracking of claims, reducing discrepancies and fraud, while fostering trust among stakeholders. At Kauvery Hospitals, we are committed to leveraging NHCX to deliver exceptional healthcare services, ensuring a seamless and efficient claims experience for our patients and partners. To know more: https://lnkd.in/g-E6cyxh #kauveryhospitals #multispecialityhospital #transform #healthcare #insurance

25

3 Comments

India's healthcare sector is experiencing economic growth due to capital inflows, improved services, and technological innovation. However, the health insurance industry faces market volatility and uncertainty. To survive, the industry is utilizing AI algorithms and data-driven underwriting processes. We proudly support Fedo.ai's vision to predict health risks and costs using AI demographic, lifestyle, and habit data, promoting overall wellness. Read on to know as Prasanth Madavana shares his thoughts on the major benefits that AI has on the health & insurance industry - https://bit.ly/45IreBU #backedbyunicorn #Insurance #Insuretech #AI Bhaskar Majumdar, Anil Joshi, Bikram Mahajan

51

✦ Niva Bupa Health Insurance IPO is PRICED at ₹70 to ₹74 per share, TARGETING to RAISE ₹2,200 crore. ✦ SUBSCRIPTION period is from NOVEMBER 7 to NOVEMBER 11, 2024, with FRESH SHARES worth ₹800 crore and the remainder through an OFFER FOR SALE. ✦ SHARE ALLOTMENT is SCHEDULED for NOVEMBER 12, 2024, with LISTING planned on the BSE and NSE on NOVEMBER 14, 2024. #NivaBupaIPO #InvestmentOpportunity #StockMarketIndia

1

52% personal health insurance policy owners say premium increased by over 25% in last 12 months: Survey Health insurance policyholders are deeply concerned with a significant rise in premiums in 2024 after already experiencing high double digit increases in the last 2 years, finds a LocalCircles survey. #healthinsurance #policy #insuranceindustry #survey #insurancepremium https://lnkd.in/gQgN27g4

2

Streamlined health claims: How NHCX will benefit patients and insurers. 1. The Union Health Ministry of India is set to launch the National Health Claims Exchange (NHCX) within the next two to three months. 2. This initiative aims to revolutionize the health insurance landscape in India by streamlining the claims process, making it faster and more transparent for patients, hospitals, and insurers. 3. The NHCX is developed by the National Health Authority (NHA) and is designed to provide a single-window interface that will connect health insurance companies, hospitals, and policyholders. 4. The platform aims to eliminate the cumbersome, error-prone manual processes currently in place, replacing them with a standardized, digitized system. 5. The NHCX is a collaborative effort between the NHA and the Insurance Regulatory and Development Authority of India (IRDAI). 6. The platform will extensively utilize Ayushman Bharat Health Account (ABHA) IDs to access patient information, ensuring that the claims process is seamless and quick. 7. This move is expected to reduce the time patients spend waiting for claim approvals and minimize instances of unjust claim denials. 8. At the time of launch, the NHCX will link approximately 50 insurance companies and 250 hospitals, with plans to expand gradually. 9. Notable companies like Tata AIG General Insurance, Paramount TPA, and Bajaj Allianz Insurance have already integrated with the portal. 10. The implementation of NHCX comes at a crucial time when the government is receiving numerous complaints about the current claims process. #insurance #insurtech #healthcare #claims #customercentric #innovation Aman Pal Singh Benefits for Expats | Insurance Consulting

2

Insurance industry has seen a major boost in the last few years and today. While insurance reach and penetration still lag, recent reforms are in the right direction. It is leveraging both online and offline media called Phygital. #Insurance #IRDA #Channels #Digital #Innovation Read more at: https://lnkd.in/eKUd9Vsc

6