“The Indian healthcare industry is experiencing a phase of rapid expansion with 12 % CGPA (cumulative growth per year) since 2008 and its market is ready for rough Rs.1.3 billion (Rs.12, 60,000 crore) in revenues in 2020 “Apollo Hospitals Group founder chairman Prathap C. Reddy, said at a function here.

Inauguration of the second edition of the international conference-cum-exhibition “Healthex 2011 at Bangalore International Exhibition & Convention Centre (BIEC) on the outskirts of the city, Reddy said private hospitals for training and upgrading of equipment to reach and better serve their patients with the best methods and practices.

“The government initiatives and public-private partnerships to create greater opportunities for nurses, paramedics, emergency medical technicians and medical specialists around the country,” said Reddy.

According to the Investment Commission of India, will market the size of hospitals and nursing homes will be Rs.54, 000 crore with 20 % annual growth, medical equipment Rs.9, 000 crore with 15 per % growth, the diagnosis of clinical laboratory Rs.4, 500 crore with 30 % growth, the diagnostic imaging Rs.4, 500 crore with 30 % growth, and other services, including training and education, aesthetics and weight loss, and retail pharmacy Rs.9, 000 crore.

“Health insurance has the potential to grow the top line, a study by McKinsey Global Advisory CII (Confederation of Indian Industry) estimates that the number of insured persons at 315 million euros, with a potential to generate Rs.34, 650 crore of premium in 2015, Reddy said.

Importing customers into India for medical tourism, educational services, leisure tourism is expected to generate an additional $6-50 billion in revenue and create 10-48 million direct and indirect jobs by 2020.

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CII hosted by the National Health Council, a three-day event will present the medical, surgical and diagnostic technology, materials, supplies and related services offerings.

“With a host of innovations and trends in the health sector, there is a need for public and private sectors to work together in the public interest,” said Air Vice-Marshal Tyagi Pankaj, the opening of the exhibition.

Addressing the representatives and exhibitors, the health secretary of Karnataka Ramana Reddy said that health has emerged as one of the most progressive areas of service and the country’s largest.

“Vision 2020 the country should include the provision of affordable health care, even for the rural poor, in addition to providing better health systems,” said Reddy.

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The company, a joint venture between sector lender Bank of Baroda and Andhra Bank with public investment company Legal & General, also said it expects to sell at least 1 lakh health insurance policy within that period.

“While the industry, health is the best opportunity in the insurance sector today launched the first floor we have -. India before health insurance plan or your money back – and in the coming days, we’ll get more tender,” india first Life President and CEO P Nandagopal said.

Money Back Plan, would provide protection to its customers up to 10 years. The smallest reward that you would win Rs 10,000.

Health insurance would be a minimum of RS 1.5 lakh and a maximum of Rs 10 lakh.

“Health insurance, retirement and would be along micro-insurance, it would be our three areas of interest and hope that 10 % of our total sales from health insurance in three years,” Nandagopal said.

We also aim to sell at least one lakh health insurance policies over the next three years, he said. The plan will provide health coverage, and the option of saving for the customer.

Part of the fee, depending on the age and health of the customer, must be paid to the buyer’s policies into account and this money would be invested in different funds to achieve the best possible performance.

“The program provides health insurance for the whole family along with the investment flexibility to grow wealth by investing in different funds for a single plan,” Nandagopal said.

“Our goal is to grow 40 % annually and be among the top six players in three years in the life insurance segment,” he said.

Life in India first, commissioned in March 2010, currently has total premium of over Rs 1000 crores.

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A large population is without health insurance, the industry was only 4.22 % of Indians. About 14 crore people in urban areas remain untouched by any type of health insurance.

Source: [ET]

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Thank you for advertising in various ways as we are told by companies (insurers) are available on the market, but confusion arises when all firms and a jet of the diaspora of health plans against us. To help you choose a hand, here are some tips to help you decide what you should look at before buying a health insurance policy.

1.Co-payments are a Crucial Factor:
Co-payment is part of the statement that the contractor agrees to take every claim. And ‘different for each insurer, insurance, and can also vary on a case by case basis. Co-financing may vary from any of 0-30%.

With some companies, co-payments can be reduced to zero by paying an additional premium. So before going for any one health problem, make sure the amount you will pay more comfortable as a co-payment may result in lower premiums.

2. Coverage Before and after the Costs of Hospitalization:
Different health coverage plans before and after hospitalization in a different way. Some plans hire a total of 60 days before hospitalization and 90 days after admission, but others such as Apollo in Munich coverage for expenses incurred 30 days prior to admission and 60-90 days after admission. There are still others that offer a percentage of hospital costs before and after.

Here, before you purchase a plan, you must measure your medical needs and decide which plan is best suited for you.

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3. Take Home Treatment if you are old:
Installation of home treatment is useful for patients who can not travel to a hospital for treatment. This facility can use home treatment, in these times. Most of us take this service with a health insurance plan, regardless of need, resulting in higher premiums. Most of us need treatment at home in old age and disease, therefore, can prevent an early age.

4.Consider the Renewal of the age and other Circumstances:
Most of the renovation plans differ in age, which limits the possibility of a person for coverage up to a maximum age. In general, the maximum age ranges from 60 years to renew the life of the insured.

As health insurance requires a renewal after each year, most insurers increase premiums if claims are huge and you might want to get insured with the company of giving different policies for reducing premiums. Therefore, it is important to examine the complexities before going to a particular insurer.

5. Be careful with the caps on treatments:
In addition to limits on the sum insured for certain expenses, health plans also limit the number of days allowed expenses. Includes care treatments, hospitalization, etc. Also, some policies also cover non-allopathic treatments such as ayurveda, unani, etc., while others do not. Here too we must seek the needs of his / her and make sure that does not end with the capture of benefits, which makes the premium too high to pay.

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In June, the International Organization Organization adopted “Convention on domestic workers,” requiring member countries like India to give domestic workers the same employment rights as other workers. These include weekly compensation, reasonable working hours and the right to collective bargaining. On the domestic front, the Council of Ministers of the enlarged EU of health insurance for women across the country last month.

But labor experts are cynical about whether and when the policies on paper translate into real benefits for domestic workers. They remember how the Maharashtra Domestic Workers Welfare Board Act was passed on the last day of the Assembly Winter 2008, when elections were around the corner. “The state has promised welfare offices, which produce social services, which covers this part of workers. Forget the welfare state has not yet begun to save the workers, who would be the first step in identifying as a servant, “said Sonya Gill Association of All India Democratic Women, working closely with the maid.

Experts stress that the work of progressive states like Kerala and Karnataka are covered by domestic workers the minimum wage laws. Instead, the cards are being blocked Maharashtra on the starting line.

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“The state recently ranked all bidi workers below the poverty line. There is a reason to make similar provisions for domestic workers,” said Vivek Monteiro of the Centre of Indian Trade Unions. Monteiro added that the recent price increases have prompted many home helps them make more on a series of odd jobs, regardless of their health or safety.

Source: [TOI]

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Until last year, many hospitals have a structure where the double-billing patients who were covered by insurance have been subject to a higher rate. The insurance industry responded to this double-billing by introducing rate card and created a group of approved hospitals for cashless treatment is called the preferred provider network (PPN).

After the large companies between insurance face-off and hospitals last year, patients start to take advantage of the standardized cost structure in place for common medical procedures. Now, in addition, uninsured patients would not take part of the costs of hospitalization, in contrast to earlier. If inflated billing, insurance is to get hospitals to reimburse the amount overcharged for patients. The other positive is that the bill insurance claims has fallen, and this in turn will reduce the rate of pressure on health insurance and keep them under control.

The public sector insurance companies, which dominate up to 60% of the business of health insurance, managed to get most of the hospital chains in the Preferred Provider Network (PPN), in which rates are fixed for a minimum treatment 42 medical procedures. These include open-heart surgery, cataracts, knee replacement, gall bladder operations and childbirth.

“Many health care costs now carried out by health insurance is a business of Rs 11,000 crore. The four public sector companies met, increasing our bargaining power,” said G Srinivasan, Chairman of the United India Insurance and theGeneral president of the Association of public sector insurers. He added that the health accounts for 26% of the activity of insurance companies generally had a lot of ground in calculating the costs of treatment and development, standardized rates.

Cashless treatment, which had problems during the uprisings last year, is back too. He is currently in 456 hospitals across NCR Delhi, Mumbai, Bangalore and Chennai. In Delhi, NCR, where 188 hospitals, including all the big names of the exception of Apollo on board, the cashless transactions now account for almost 80% of all medical insurance reimbursements. In Chennai, the figure is 60%, Bangalore and Mumbai from 55% to 20%.

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The percentage is low in Mumbai because none of the major tertiary care hospitals with high footfalls insured patients agreed to be on the nuclear plant, although the city has 114 hospitals with cashless facility. Starting this month, Calcutta, Ahmedabad, Hyderabad and Chandigarh were added to the list of cities with the possibility of cashless payment. In total, 100 hospitals are in the PPN in these four cities.

Sources said that the insurance industry, all major hospitals are, the standard prices for insured patients, although accounts differ in patients who do not have mediclaim.

Source: [ET]

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Source: [ET]

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GIC is a statutory body under the Indian Act 1938 and Insurance represents all non-life insurers in the country.

There are 22 general insurance companies in India. Most of them complied with the Directive, the GIC, but others have gone ahead and submit their bids Jeevandayi Rajiv Gandhi Arogya Yojana (RGJAY) system, the Government of Maharashtra.

RGJAY CEO, K confirmed that ICICI Lombard Venkatesham ET, Star health insurance and public sector New India Assurance, are the three final candidates.

ICICI Lombard offers, ET learns, is the smallest.

Under the offer, the offeror shall obtain a premium of about Rs 2000 crore. In response a spokesman for the application of ET ICICI Lombard said the company received the LCP Directive, after submitting the application.

“Communication to the Council of GI was the result of the failure to offer a RSJY application” ICICI Lombard said the spokesman.

The company also said that the directive was recommendation.

“We warn the communication IM recommendation of the Council,” the spokesman said.

“We call on all non-life insurance companies to give up, agreeing to” support “clause 14 of Chapter 1 of the system,” says SL Mohan, Secretary General of the ICM in a letter to all non-life companies insurance.

The ICG also refers to an IRDA circular advising insurance companies not to accept profit-sharing, while bidding contest.

Less RGJAY system, insurance companies, it will pay 90% of the surplus that remains after the Government’s arguments at the end of politics.

Other non-life insurance companies are not happy with some companies to go ahead despite the directive and the GIC has decided to raise the issue with the Governor and Insurance Regulatory and Development Authority (IRDA), and the state government of Maharashtra.

Source: [ET]

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