The Indian healthcare industry has undergone a massive revamp over the last decade. A study published by the Healthcare Executive Management Program (HEMP) suggests that the Compound Annual Growth Rate of the Sector is expected to reach a massive $280 billion by 2020.
This development has been driven by continuous investment from domestic and international healthcare service providers, who are working to improve Indian medical infrastructure. This has even brought heavily advanced surgical procedures into the country.
Complicated surgical procedures that once took days to execute are now being completed in a matter of hours; these are filed under day care procedures.
While such procedures are welcomed with open arms by the majority of the Indian population, they raise concern among individuals looking to pay for treatment through their health insurance policies. Day care procedures have become a lot more expensive due to next gen technologies, and usually aren’t included in health insurance policies.
Before we get into the world of day care procedures covered by health insurance, let’s ascertain the basics.
What is a Day Care Insurance Cover?
Basically, technology has improved the treatment procedure for almost every disease. Let’s take an example of cataract surgery. When modern technology was still new, treatment would take a few days—even weeks in some cases. As laser eye surgery procedures have become much simpler with modern equipment and technology, surgical procedures take less than half an hour.
However, this means higher costs that aren’t covered by insurance. This is where a day care insurance cover comes into play, saving you from such major expenses.
What Treatments are covered under Day Care Insurance?
Most day care health insurance policies today cover the vast majority of ailments that can be treated within a day. Day care procedures in health insurance can cover up to 150 medical processes. Some of them include:
Ophthalmology (Eye Treatments)
- Operation of cataract
- Incision of diseased eyelids
- Corrective surgery for blepharoptosis
- Incision of diseased eyelids
- Operations on the cornea
- Corrective surgery for entropion and ectropion among others
- Meniscus tear surgery
- Ligament tear surgery
- Removal of fracture pins and nails
- Removal of metal wire
- Surgery of ligament tear
- Arthroscopic knee aspiration
- Closed reduction on fracture, luxation
- Trauma surgery and orthopaedics
Digestive Tract Operations
- Treatment of haemorrhoids
- Treatment of fistulas
- Ultrasound guided aspirations
Operations on the Middle Ear
- Revision of a tympanoplasty
- Radiotherapy for Cancer
- Cancer Chemotherapy
- Endoscopic polypectomy
How Can You Choose Health Insurance Based on Day-Care Procedures?
Major health insurance providers understand that policy buyers look for medical coverage on day care treatments; most of them have included a variety of procedures into their offering.
However, benefits offered by some of these are largely better than others. Here are a few things you need to keep in mind before picking a policy with day care coverages.
- Look for Quality, not Just Quantity
Many insurance providers advertise impressive lists of medical procedures that are covered. Don’t just dwell on the numbers though.
Instead, check for broader categories (i.e.) if they offer cover in urology, oncology, cardiology, dermatology and the like. A policy needs to cover over 20-25 top concepts for it to be truly beneficial.
- Check whether the Policy Offers OPD
There are a number of policies that offer Out Patient Department (OPD) coverages, where you’re covered on treatment that lasts only a few hours. If the policy has an ODP clause, you will be saved from spending from your pocket. For instance, a Lasik Eye Surgery generally takes less than an hour. This will come under the ODP category.
To sum it up, you should go in for a health insurance policy that covers day care procedures too, because technology has minimised the time taken for some highly complicated surgeries as well. The cost of day-care procedures are skyrocketing too; going for a policy that offers a good day care coverage saves you hard-earned money.