Health expo to unveil low-cost medical equipment

The Indian healthcare sector has emerged as one of the most progressive and largest service sectors in India. The public sector however is likely to contribute only around 15% to 20% of the required $ 86 billion investment.

"The corporate India is, therefore, leveraging on this business potential and various health care brands have started aggressive expansion in the country," said Dr EV Ramana Reddy, secretary to the department of Health and Family Welfare, at the inauguration of a three-day long exhibition, Healthex, on Friday.

“Various state governments are collaborating with the private sector through PPP to improve efficiency and decrease the inequity in the health system. Community health insurance initiatives have also been undertaken in terms of Yeshaswini Scheme in Karnataka,” said Dr Reddy.

The country's vision 2020 should include the delivery of affordable healthcare system even to the rural people. Preventive healthcare is another aspect that should be focused on and doctors should gear up to educate patients, he added.

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On the healthcare development in Karnataka, he revealed that the healthcare landscape is changing rapidly with corporate and foreign hospitals setting up centres to offer high quality healthcare. Moreover, the government is also promoting India as the global healthcare destination to offer holistic treatment. Now, private and public hospitals need to synergise their efforts to promote India as the healthcare destination worldwide, said Dr Reddy.

The Indian healthcare industry is undergoing a rapid expansion and in order to survive the healthcare market competition and growth, hospitals are continuously updating themselves on current issues, challenges, and the best methods to reach out to and serve their patients better, he said.With several innovations in the healthcare sector, there is a need for both private and public sector to work jointly.

"The rapid technical changes in the recent past and the commitment of the Army Medical Corps Services to provide a cradle-to-grave service have encouraged diversification in the unexplored fields in military medical services,” said Air Vice Marshal Pankaj Tyagi, principal medical officer, Headquarters Training Command, Indian Air Force.

Cashless mediclaim facility at 4 more hospitals

Fortis group of hospitals and Cumballa Hill Hospital in Kemps Corner have agreed to be part of the Preferred Provider Network (PPN) programme of public sector insurance companies for cashless mediclaim facility.

An official said, "Fortis group has 3 hospitals in the Mumbai Metropolitan Region at Mulund, Kalyan and Vashi. All the 3 will join the PPN network." - Manthan K Mehta

Vijay Shetty, director of Cumballa Hill Hospital, said, "The cashless facility to mediclaim policy holders will be comprehensive to patients within week."

Till now, Jaslok was the only major hospital in the island city to have joined this association.

General Insurance Public Sector Association (GIPSA) a group comprising 4 public sector insurance companies - New India Assurance Company Ltd, United India Insurance Company Ltd, Oriental Insurance Company Ltd and National Insurance Company Ltd, had decided restrict the cashless medical facility to hospitals approving to join the PPN to curb the mounting losses to fraudulent or inflated claims from July 1, 2010 onwards.

Apart from Fortis, the other major hospital in the network Jaslok Hospital, Jupiter Hospital Thane, MGM Vashi, Sterling Wockhardt, Vashi, Kohinoor Hospital, Kurla, Seven Hills, Andheri (E).

Hospital corpse to clarify position on cashless medical insurance

The Association of Hospitals, which represents most private hospitals in the city, will on Wednesday simplify its stand on the issue of cashless medical insurance. Many insurance holders had been left in the pitch as public sector insurance companies had determined to limit cashless mediclaim policies to only those hospitals that characteristic in the favorite Provider Network list drawn up by them.
This covered only 81 hospitals in Mumbai.
The public sector companies had done this saying the hospitals were billing patients advanced if they came under mediclaim.
The companies want hospitals to stay to a set of standard rates for surgeries and medicines.
“Hospitals are being asked to conduct bypass surgeries for Rs 1.8 lakh, which is not likely in a city like Mumbai,” said General Vijay Krishna, chief executive officer (CEO) of Breach Candy Hospital, who is a member of the association.
“The insurance companies are also saying they will buy equipment and medicines straight and give to them hospitals,” he added.
“This is just not practical. If we need some equipment immediately, will we have to wait till it is sent to us.”
“The insurance companies should have held a discussion with us before making such decisions. We have not been given a consideration,” he added.

Stopping cashless medical insurance is break of agreement

It is unfortunate that even public-sector Insurance Companies have joined private-sector ones in their cold attitude towards their individual customers when large number of chief hospitals were de-listed by these public-sector Insurance companies for extending cashless reimbursement for availing medical facilities through mediclaim policies. It is a break of agreement when the facility was discontinued uninformed to policy-holders unexpectedly from 01.07.2010.

However Insurance companies for prospect can issue two types of mediclaim policies, with cashless policies valid at all hospitals as before, at some higher premium than normal policies without cashless ability during treatment. But any such system should be for new policies only. It is pointless to break the contract with policy-holders by midway termination of any earlier prevailing facility including cashless mediclaim at different hospitals.

Union government should combine all public-sector Insurance companies in one united company to save largely on advertisements and overheads.

Keep on healthy, Keep on wealthy

The age of touting mutual funds is over and the age of selling fear has started. Fright for your life, fear for your health, fear for your loved ones. The excitement to say no to the pesky neighbourhood insurance sales guy is strong within all of us. But before actually banishing him from your life, just stop for a moment and do a quick 'health check'.

Health costs have been rising insidiously in double digits, year on year, for the last few years. Many of us are still impractical when it comes to the costs of a longish stay in a hospital.


More importantly, costs can be far higher once the hospital part is done with. It's the post surgery care that often eats large holes into our finances. This is rarely covered by the traditional Mediclaim Policy, which mostly covers hospitalization.

Previously, our choices were limited--there was mediclaim or mediclaim. In more recent years, a few more options have come up. Life Insurance Companies have been offering riders that cover some critical illnesses. In the last year or so, insurance companies, both government and private, are offering individual health policies worth considering. These don’t eliminate the need for the traditional mediclaim, but help you top up and catch up with the rising costs.

For example, non-hospital expenses can be covered by the 'critical illness cover' which must be bought alone. Similarly, say you are having a waterfall or some other surgery that doesn't require you to be in hospital; 'surgical cover' is an add-on where you get a fixed benefit regardless of the bill amount.

As always, when there are more choices, it's a bit of a land mine to navigate when you want to estimate whether to top up your health cover and if so with what, and how much. The sweat is in the nitty gritty, which diseases are covered, whether to take a Mediclaim family policy or a floater.

But once its done, at least you can heave a sigh of assistance that you won’t get wiped out financially if you fall ill. The table below can help start the wheels turning.

More Information about Health Insurance

ICICI LOMBARD: FACILITY TO RENEW PRODUCT

ICICI Lombard has introduced the option to buy as well as to renew its product ‘Health Advantage Plus’ through its website. This product covers hospitalization expenses as well as outpatient treatment or OPD expenses caused by accidents arising out of terrorist activities. This is an added feature included in its product which is unique and very applicable during current times among other features.

ICICI Lombard General Insurance has introduced a special insurance called ‘Overseas Student Travel Insurance – Gold Plan’. As the name suggests this product plan will provide cover against medical expenses for students who plan to study abroad. It offers to reimburse expenses related to
: Accident
: Dental treatment
More over it will provide covers such as
: Personal liability
: Bail bond
: Sponsors protection
: Repatriation of remains
: Checked-in baggage loss

The plan offers up to $7,500 if studies are interrupted due to
: Medical reasons or,
: Compassionate reasons on the family front.

But before purchase of the policy, the student should compare his/her university’s requirements with that of ICICI Lombard’s offer to be completely sure of compliance.
For More Information About Insurance Policy.
Mediclaim, Health Insurance

Oriental insurance to launch new schemes

Public sector general insurer Oriental Insurance Company on Thursday said it is planning to launch four new schemes including two health insurance schemes.

Oriental Insurance Company Chairman M Rama doss said. "We have filed offer documents for four new schemes with the regulator, He said " These include two health insurance plans, including overseas mediclaim and two motor vehicle insurance schemes,. The company is awaiting IRDA approval, he said, adding, Oriental currently offers 160 schemes under different segments.

Meanwhile, the company launched a portal offering customers to buy policies online. He said, "From today onwards customers can get vehicle insurance, personal accident cover, householder's insurance online and even claims can be developed through the portal,"

He claimed, With the launch of the portal, Oriental Insurance became the first public sector general insurance company to offer this facility to the customers.

The portal is included with the company's core insurance system and it would enable the various stakeholders of the company to get real time information about their policies, claims and grievance, he said.

Insurance cos push for uniform hospital rates

In a move to control health cover costs, insurance companies are bargaining hard with hospitals for a standard rate card. Market leader New India Assurance has told corporate customers that cashless repayment will be only to the point of the negotiated price and if any policyholder goes to a hospital, which charges more, the difference will have to be borne by the policyholder.

The TPA has asked corporates to ensure that their employees avail of cashless facility in these very hospitals. New India, which also has the largest health insurance portfolio, has set the ball rolling through its third-party administrator (TPA) Medi Assist. Medi Assist has spread to all group mediclaim policyholders a list of hospitals and the ‘reasonable charges’ levied by them for various procedures.

We shall restrict the settlement of the claim only to the limits indicated in the attachment and the employees shall be liable to meet the difference in the amount,” the TPA has said. “Should they avail the treatment for these procedures in any other hospital.

The rate card circulated provides a matrix of standard charges for secondary and tertiary providers in the premium and non-premium categories across various procedures. The tariff rates vary for metros where provision is made for higher costs.

Tax benefits and Mediclaim

Mediclaim insurance offers both tax savings and medical cover. Mediclaim cover provides security to meet unanticipated medical expenses. You can insure against medical expenses of yourself or dependents. These policies are offered by almost all insurance companies.

In some cases, preexisting also covered on payment of an additional premium. They provide insurance cover for the treatment of most ailments with hospitalisation. In addition to the basic cover, there are trappings available on payment of an extra premium. Some insurance companies provide cover for day-care and annual medical check-ups as well. You should go through the cover and keeping out clauses carefully. The cover may be enhanced to ailments not normally covered also.

The deduction is available only to individuals and Hindu Undivided Family members. The premium paid for mediclaim policies is tax deductible. Under the Income Tax Act, exemption is available for the amount contributed towards medical insurance premium. This is provided under Section 80D of the Income Tax Act. According to these provisions, premium paid towards a mediclaim insurance is deducted from the total income of an assessee.

The dependence of parents will have to be proved in order to claim the release. Dependence will be evident in case the own resources of the parents are not sufficient to support them. In case of an individual, the amount deductible includes any sum paid for insurance on his health, on the health of his spouse, dependent parents or dependent children.