Only 27% Indians have health insurance, says report
Only 27 percent of Indians have health insurance
coverage, a joint report by FICCI and KPMG revealed on Monday. The report,
titled “Health savings account in India”, revealed that the healthcare sector in
India is largely underpenetrated with government expenditure constituting
approximately 1.4 percent of the country’s GDP. On the other hand, private
sector expenditure constitutes 70 percent of the total healthcare expenditure
out of which 62 percent is out of pocket while only eight percent is covered
through pre-financed instruments, as per World Bank Data. This indicates a
significant gap in coverage offered by current products and the need for a
comprehensive ecosystem of financed healthcare.
“Healthcare costs today are going up by the day due to
lifestyle diseases in particular and the only way the gap between rising
healthcare costs and affordability can be bridged is if the insurance sector
develops a sustainable and viable mechanism,” Antony Jacob, Co-Chair at FICCI
Health Insurance Committee, said in a statement on Monday. “Today with out
of pocket expenses accounting for nearly twice as much as institutional
expenses, there exists a real need for an all-inclusive solution towards
healthcare in the Indian market.”
Currently, the health insurance industry caters
largely to institutional treatment leading to considerable opportunities in
targeting outpatient treatment, with medical inflation at 15 percent, in areas
such as consultation fees, diagnostics and medical expenses. There is an
urgent need for a centralised health savings scheme managed by a
government-nominated body or privately managed by insurers with centralised
fund management, the report suggested. “This will ensure that more and more
people have funds for accessing healthcare services, thereby going a long way
in realising India’s goal of providing healthcare to all,” noted Shashwat
Sharma, Partner and Head (Insurance) at KPMG.
19.12.2017
The problem is not the problem,
the problem is your attitude about the problem
No comments:
Post a Comment