The cost of healthcare in India has been on the rise in recent years due to a variety of factors. Some major factors are the increasing cost of medical treatments and procedures, as well as the cost of medical equipments and medications.
In addition, there has been a significant increase in demand for healthcare services, as the population of India continues to grow.
Another factor contributing to the rising cost of healthcare in India is the shortage of healthcare professionals and facilities. The country has a large population, but a relatively low number of doctors, nurses and hospitals, which can lead to overcrowding and longer wait times for medical treatments, which, in turn, can lead to higher healthcare costs.
Why Health Insurance is not wide spread in India?
Furthermore, the insurance coverage in India is not as widespread as it is in some other countries, which means that many people are left to pay for their own medical expenses. This is a major challenge for many people, especially those who live in poverty, or have low-income have to pay out of their pockets.
To tackle these issues, the government has taken steps to increase access to healthcare and bring down costs, such as creating more public hospitals and clinics and launching Health Insurance schemes like Ayushman Bharat - Pradhan Mantri Jan Arogya Yojana (PMJAY) to provide Health Insurance cover for low income families.
In addition to government efforts, there are also a number of private healthcare providers and non-profit organisations working to improve access to healthcare. They are working to increase awareness about healthcare, provide training for healthcare professionals and fund medical research.
However, the government and private healthcare providers are working to increase access to healthcare and bring down the healthcare costs for patients. It is important that we all do our part to support these efforts and continue to work towards a healthcare system that is affordable and accessible to everyone.
In addition to the factors already mentioned, there are several other reasons why the cost of healthcare in India is rising.
One of these reasons is the lack of regulation in the healthcare industry. This can lead to overcharging and overuse of medical treatments, as well as a lack of transparency in pricing. This can make it difficult for patients to understand the costs associated with their medical care and can also lead to them being overcharged for treatments.
Moreover, in India, the out-of-pocket expenses for healthcare are high, which puts a significant financial burden on the people. They have to spend a significant amount of their savings and income on healthcare, which can affect their overall financial stability.
Lastly, a lack of preventive care in the healthcare system can also contribute to rising costs. Preventive care such as vaccinations and regular health check-ups can help prevent illness and disease, which in turn can reduce the need for more expensive medical treatments down the road.
However, to tackle these issues, the government is trying to implement some solutions. For instance, setting up more medical colleges and increasing the number of healthcare professionals in the country is one of the solutions.
The government is also encouraging more public-private partnerships to increase the number of healthcare facilities. And implementing policies to increase transparency in pricing and regulating the healthcare industry are also important.
Health Insurance company help in medical inflation in several ways:
- Negotiating lower prices: Insurance companies enter into dialogue to negotiate lower prices for medical treatments, procedures and medications with healthcare providers and pharmaceutical companies. This can help to lower the overall cost of healthcare for patients.
- Encouraging preventive care: Health Insurance companies can incentivise preventive care by covering the cost of regular check-ups, screenings and vaccinations. This can help to detect and prevent illnesses before they become more serious, which can ultimately lead to lower healthcare costs in the long run. Wellness initiative is also something that insurance companies are venturing into.
- Managing utilisation: Insurance companies can manage the utilisation of medical services by keeping a close check on unnecessary procedures. By doing this, insurance companies help to keep costs down and promote more efficient use of healthcare resources.
- Utilizing health care management techniques: Insurance companies can manage the healthcare services by implementing health care management techniques like utilisation review, prior authorisation and case management. This can help to reduce unnecessary treatments and procedures and also lower the costs for the patients.
- Encouraging the use of Telemedicine: Insurance companies can also encourage the use of telemedicine, which can help to make healthcare more accessible and convenient for patients, while also keeping costs down. Some insurance companies offer free telemedicine services with quality healthcare professionals.
Overall, while insurance companies can play a crucial role in helping to curb the effect of medical inflation, they need to work closely with healthcare providers and government agencies to develop and implement effective strategies. This can help to ensure that patients have access to affordable, high-quality healthcare.
It is important to note, however, that healthcare is a complex issue and while insurance companies can help to reduce the costs, there are other factors that also need to be considered such as the availability of medical professionals, standards of care and government regulations.
Summing up
In conclusion, the rising cost of healthcare in India is a multi-faceted problem that is influenced by a variety of factors. This includes the increasing cost of medical treatments and equipments, the shortage of healthcare professionals and facilities, the lack of insurance coverage, the lack of regulation and standardisation in the healthcare industry and the high out-of-pocket expenses for patients.
However, with the government's efforts and the help of private healthcare providers, it is possible to increase access to affordable healthcare and improve the overall healthcare system in India.
