Insurers can add hospitals for cashless

MUMBAI: The Insurance Regulatory and Development Authority of India (Irdai) has allowed non-life companies to on-board hospitals for cashless claim settlement in keeping with their board-approved policies. This is a relaxation from the earlier norm that required network providers to be accredited by the National Accreditation Board for Hospitals & Healthcare Providers or a state level certificate under National Quality Assurance Standards.
Irdai said that the move was aimed at enhancing the scope for offering cashless facility across the length and breadth of the country. “Insurers are now empowered to empanel the network providers that meet the standards and benchmarks criteria as specified by their respective boards. While specifying the criteria, the board of insurers shall, among others, consider especially the minimum manpower and healthcare infrastructure facilities,” the circular said. Universal Sompo General Insurance MD & CEO Sharad Mathur said, “After Covid, several improvements have taken place in the healthcare industry. However, we still have a long way to go. It is an excellent step in my view, encouraging, and would support protecting not only policyholders’ interests but also the public at large.”
He added that this initiative would increase the scope of the insurers’ cashless services, which would play a pivotal role in reducing the financial burden on policyholders. “This will also provide a strong network of healthcare plus insurance services countrywide,” said Mathur.
Companies will have to publish the board-approved empanelment criteria on their website.