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Smarter Operations: Health Inurers Change Their Business Model

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Smarter Operations: As health insurers change their business models, they are looking to operate smarter through vendor-provided technology, business process management, and managed services offerings. Such offerings will aim to help health insurers streamline processes and data, reduce costs, and streamline regulatory and service level compliance
Quality over quantity: As of late, healthcare as a whole is shifting from the traditional fee-for-service model to pay-for-performance methods. This forces insurers to focus on their patient populations. For instance, 40 percent of insurers' reimbursements to providers are for value-based care that improves quality and reduces waste. As insurers and providers both change their payment methods and …show more content…

This facility has been star from 1 Oct. 2011. Continuity can be passed on from products with similar risk covered, for e:g Portability can be opted from Hospitalization policies popularly known as mediclaim policies to mediclaim policies.
IRDA Facilitation: IRDA has created a web-based facility to get and maintain data about all health insurance policies issued by insurance companies to individuals so that it can be accessed by the new company to which a policyholder wishes to port his policy. This enables the new insurer to obtain data on history of health insurance of the policyholder wishing to port his policy.
Foreign Direct Investment …show more content…

The opposition parties along with some major existing players have shown resistance to this new regulation on the grounds that this will threaten the stability of the Indian financial market and hence requires fresh scrutiny. The resistance is also due to the fact that in some cases, where there are multiple Indian partners, increasing the stake of the foreign insurance company to 49 percent will make it the largest shareholder. On the other hand, it is also true for the economy to have a well developed and evolved insurance sector an increase in the FDI limit is an important step, providing long term funds for the development of infrastructure where there’s currently a funding gap of almost US$300 billion8 and help improve the adoption of international best practice. FDI in insurance sector really beneficial for penetration of insurance in to the market, increases capital flow, job creation and for getting improved and quality

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