Financial services and administrations conglomerate Bajaj Finserv has proceeded into the medical healthcare ecosystem with its new contribution ‘Bajaj Finserv Health’, a tech business that aims to incorporate the divided service delivery of the medical healthcare services framework and make medical services open to purchasers by broadening and extending its range and openness on a single platform.
Bajaj Finserv Health utilizing Aarogya Care will offer customized, preventive, prepaid medical care packages, and will likewise incorporate therapy costs through medical coverage covers from its Bajaj Allianz general insurance. It will likewise incorporate loans from Bajaj Finance for hospitalization costs. But, the primary focus will be on preventive medical services. Further, it will empower the client to get and carefully keep up digital health records that would be incorporated with the national health ID. India spends just seven percent of its complete expenditure on preventive medical services. As much as 80% of the consumption is on treatment and medical intervention. India’s cash-based expenses on healthcare medical services are as high as 65 percent, compared and 36 percent in China and 37 percent in Indonesia. Also, the health sector in the nation is disaggregated today, with service providers, professionals, diagnostic centers , pharmacy, loan organizations, and insurance agencies working independently.
Sanjeev Bajaj, Chairman &CEO, Bajaj Finserv mentioned that with a huge consumer base and a strong and solid partner ecosystem, Bajaj Finserv Health will empower connected, cost-effective, and convenient service administrations for purchasers in a consistent and customized experience from the comfort of their homes. The packages that the product offers will extend from Rs 499 for a family of two just profiting outpatient department consultation, to as much as Rs 20,000, with COVID-19 tests, teleconsultation related to COVID-19, comprehensive preventive medical services, and hospitalization for a family of four. The price point of the product will change based on highlights and the number of wards covered. Until this point, the organization has had a normal ticket size of Rs 9,000 that clients are choosing. Life insurance isn’t important for the arrangement, the platform will hope to incorporate the protection part additionally going ahead.
The organization stated that it has effectively tied up with 112 hospital partners working 200 hospitals in India, and three diagnostic and research facility focusing 671 customer contact points. It has more than 9,000 specialist doctors enlisted on the platform. In a year, the objective is to reach incorporate 100,000 specialist doctors.
Devang Mody, CEO, Bajaj Finserv Health mentioned that Aarogya Care in a manner is pointed toward meeting clients’ complete medical services needs in one go. Aarogya Care presently doesn’t cover medication purchases. Yet, that is something the platform will hope to incorporate later on. The platform will utilize profound innovation and technology, AI, and ML algorithms to give custom-made experiences and incentives to both clients just as partners.