The pandemic provides opportunity for insurance companies to innovate, serve evolving needs of more informed population
As COVID-19 has expanded the market for home healthcare providers, the number of patients seeking home healthcare services will increase accordingly. Also, in the wake of the pandemic, there has been greater concern and awareness about health, and enquiries about health insurance policies have increased by 30–40 per cent. The pandemic also provides an opportunity for insurance companies to innovate and serve the evolving needs of a more informed population. Several insurance companies have come forward and added home healthcare segments in their healthcare policies. Recently, ICICI Lombard General Insurance has added benefits related to the treatment of Coronavirus to its existing health insurance indemnity policies. Apart from leading hospitals, ICICI Lombard has tied – up with home care service provider — Healthcare at Home (HCAH).
“Our recent tie-up with ICICI Lombard, GIC has offered additional benefits to the insured patients, at no extra cost. This would enable the policyholders to derive maximum benefit from their health insurance cover. As part of this offering, insured patients can get themselves treated at home instead of having to avail hospitalisation to avail of the insurance claim. This will significantly benefit those patients who wish to avail treatment for any ailment in the safe environment of their home, rather than a hospital, thereby ensuring social distancing and reducing COVID-19 infections. This will also go a long way in benefiting the patients who will tend towards home healthcare and also help in increasing the number of health insurance seekers. Also, amid COVID-19, and after, the Indian home healthcare users are expected to grow significantly,” said Vivek Srivastava, Co-Founder & CEO, HealthCare at HOME.
The role of the insurer while providing home care services is also worth mentioning here — when the treating doctors prescribe the insured to undergo home care treatment, the insured intimates the insurer for service which is facilitated with the help of network service providers having expertise in this line of treatment. The service provider provides treatment as per the prescription / standard clinical protocols. In case of admission required at the hospital, the insured is guided with the next course of action by the treating doctor / service provider. The insurer plays the role of the facilitator for cashless and reimbursement service. This is a very transparent process, which will help the insured patients, and invite more to seek healthcare insurance.