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Will common empanelment of hospitals bring down health insurance cost?

Will common empanelment of hospitals bring down health insurance cost?
Will common empanelment of hospitals bring down health insurance cost?
Image credit: iStock.

Synopsis

In January, the Insurance Regulatory and Development Authority of India (IRDAI) introduced a common empanelment system requiring all general insurers to jointly onboard hospitals with standardised terms and rates, similar to those under PMJAY. Here’s what it means for insurers, hospitals, and policyholders.

The General Insurance Council (GIC) has begun rolling out the regulator’s common empanelment of hospitals, with a target to onboard 4,000-5,000 hospitals in the coming months which will have uniform pricing terms. Starting with 600 eye hospitals and over 100 general hospitals, the initiative seeks to streamline cashless treatment in line with government health programmes, such as the Pradhan Mantri Jan Arogya Yojana (PMJAY). Despite resistance
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The Economic Times