Health Insurance: The cost of treatment in the country is increasing rapidly and in the last 12 years, the cost of surgery has increased by almost 3 times. In the absence of insurance, people have to take loans or sell their property to get treatment. Experts believe that this may make insurance even more expensive in the future.
The Indian health sector is growing rapidly. Robotic surgery, modern hospitals, advanced machines and medicines have led to a great expansion in health services. But, along with this, the cost of treatment also increased and in just 12 years, the cost of surgery has become 250 to 300 percent more expensive. Obviously, health insurance companies are not ready to bear the cost of this expensive treatment, because the cost of health insurance is much less in comparison. So, is the premium of health insurance going to increase?
In the absence of health insurance, it is very difficult to get treatment for these diseases and surgery. For this, people have to sell their property or take a loan to get treatment. Since 2013, the most expensive treatment has been cancer, the cost of which has increased by more than 13 times. Similarly, getting a heart transplant has become 9 times more expensive so far. Liver transplant has become 7 times more expensive and kidney transplant has become 5 times more expensive.
Health insurance is important
Even today, about 75 percent of Indians in the country pay for medical services out of their own pockets. They are not covered under any government or private health insurance scheme. Having health insurance provides cashless facility and one does not have to run around for funds in an emergency. You cannot control when the disease will strike. But you can control how prepared you are. In a country where a heart surgery can cost more than a year’s salary, adequate health insurance is very important.
Why treatment is getting expensive
Inflation: Inflation in the health sector has been higher than normal, increasing the cost of treatment and surgery. Technology and equipment: The use of advanced medical technologies and cutting-edge equipment such as knee replacement (robotic-assisted, minimally invasive techniques) and laser cataract surgery also increase its cost.
Demand: As the population ages, the demand for knee replacement, cataract procedures, etc. increases. This is also reflected in the prices.
Hospital infrastructure: High-end private hospitals that provide top-class services, luxury care and premium facilities usually charge much higher than government hospitals or small clinics.
Chronic diseases: One in every four deaths in India now occurs due to heart diseases and the incidence of cancer is increasing. Their treatment is becoming even more expensive.
