September 7th, 2010 
Malvika
As per the news in Business Standard, the private non life insurance providers are following the path of PSU’s for cashless mediclaim. They are trying cut expenses by packaging rates and stabilising costs.
Senior General Insurance Public Sector Association (Gipsa), said “Private players have expressed interest in following the packaged rates decided by the PSU insurers.”
The rates worked out by Gipsa are likely to be 15-20 per cent less than what healthcare providers charge at the moment.
Sanjay Datta, head of health insurance at ICICI Lombard said, “We have in principal agreed to be part of the packaged rates. But the mechanics of packaging needs to be worked out. We will join them, but how soon will depend on how fast they move and incorporate us.”
“The PSU insurers had graded hospitals under four categories – primary, secondary, tertiary and tertiary plus,” the Gipsa member said.
T R Ramalingum, head of underwriting, Bajaj Allianz General Insurance, said “We have not formally advised on the rates but would like to join them if it brings down our costs.”
“The claim ratio may not fall but the cost of treatment at individual hospitals will become standardised. The rates may differ from one hospital to another based on location and facilities,” said New India Assurance Chairman and Managing Director M Ramadoss.
PSU’s have made a list of hospitals in the National Capital Region, Mumbai, Chennai and Bangalore. The rates are worked out on the basis of those accepting the rate packages. The rates include medical procedures and hospitalisation costs.
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