City-based hospitals are trying to make healthcare more affordable

ST CORRESPONDENT
Tuesday, 21 May 2019

To reduce the out-of-pocket expense burden on patients and make healthcare more affordable, several city-based hospitals have partnered with AffordPlan.

Pune: To reduce the out-of-pocket expense burden on patients and make healthcare more affordable, several city-based hospitals have partnered with AffordPlan.

AffordPlan is a first-of-its-kind financial technology platform that enables healthcare savings. It helps patients save and pay for planned, non-emergency, medical procedures such as maternity, dental, cataract surgery etc. Through its unique savings solutions, AffordPlan is helping patients reduce 15 to 20 per cent of their costs at partner hospitals. More than 800 hospitals and healthcare ancillaries including pharmacies, path labs, etc. have already partnered with AffordPlan across the country. 
Dr Bharati Dhore Patil, Shree Hospital, Nagar Road, which has partnered with the online platform said that it is an innovative mechanism for patients who are not covered by insurance. “We are seeing good adoption from the patients for the AffordPlan product,’’ said

Tejbir Singh, Co-Founder and CEO of AffordPlan. Healthcare spends impact all of us, albeit differently and a majority of Indians are plagued with spends that are unplanned and out-of-pocket, he added.

“Through our savings product, hospitals and patients can co-design flexible payment plan for their medical treatment. AffordPlan offers a manageable payment structure, developed specifically for an individual’s need based on their liquidity. AffordPlan allows patients to save an amount they are comfortable with on a daily, weekly, or monthly basis and to make payments as per their convenience through a number of platforms including cash payment at the AffordPlan desk or the local pharmacy, bank transfer and online payment, or the payments can even be collected from the customer’s doorstep,” said Singh.
He further added that while AffordPlan addresses treatment across dental, eye care, knee replacement procedures, the sizeable chunk of the product caters to maternity.

“Expenses for a normal delivery alone cost anywhere between Rs 20,000 to 50,000 without accounting for unexpected occurrences that may need urgent medical intervention and therefore further expenditure. The unique nature of the product and services reduces the overall cost (including out-of-pocket expenses) by as much as 15 to 20 per cent,” said Singh.

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