Insurance claims: The National Health Claims Exchange platform will enable quick settlement of insurance claims of insurance policy holders. Besides, this will also reduce the costs of insurance companies.
The government is going to launch the National Health Claim Exchange soon. Through this platform, the claims of insurance policy holders can be settled quickly. Besides, this will also reduce the costs of insurance companies. It will also be helpful in exchanging claims related information between insurance companies. Apart from this, claimants, beneficiaries and regulators will also be able to get information through this.
It is being told that the National Health Claims Exchange may start functioning in the next two weeks. National Health Claims Exchange is a digital health claims platform. According to sources, insurance regulator IRDAI is helping in this regard. This claims settlement exchange is completely ready.
According to sources, National Health Claim Exchange will be beneficial for everyone. Insurance companies have been encouraged to be part of this. IRDA had asked insurance companies to become part of it in June 2023. The National Health Claims Exchange has been created under the Ayushman Bharat Digital Mission.
Insurance companies will get help in underwriting: Last year, IRDAI Chairman Debashish Panda had said that this platform will help in quick settlement of health insurance claims. It will also help in underwriting. General and health insurance companies will be able to use the data available from Ayushman Bharat-PMJAY to design insurance products for those who are currently uninsured.
Insurance companies can take advantage of the initiative: A large part of the population is out of the coverage of insurance. Insurance companies may offer special insurance products for people who are uninsured. The government is trying to set standards for treatment package and cost. This will have a positive impact on the health sector.
What is the exchange: It is being set up by the National Health Authority. It is part of Ayushman Bharat Digital Mission. The process of filing health insurance claims will be simplified through the proposed exchange.
Policyholders and hospitals will be able to track claim status online, which will help prevent insurance fraud. Not only this, the complete medical records of the policyholders will also be available on this exchange. With its help the policyholder will be able to provide complete medical data to the hospital at any time.
How much is the market: At present the health insurance market in the country is around Rs 60,000 crore. It is estimated that in the coming few years it will grow at the rate of 30-35 percent annually, which has been growing at about 19 percent annually in the last five years.
