Bajaj Finserv Health to Invest INR 1,000 Cr in Tech & Services

To further its goal of enhancing healthcare affordability, the company is investing in fraud detection technology and AI-powered systems to build trust and improve service delivery.

Bajaj Finserv Health, a subsidiary of Bajaj Finserv, is set to redefine healthcare administration with a direct-to-consumer approach.

Following its acquisition of third-party administrator (TPA) Vidal Health in April 2024, the company plans to invest INR 1,000 Cr in products and technology to enhance its offerings, including the launch of 'Health Saathi' concierge services.

Devang Mody, Managing Director and CEO of Bajaj Finserv Health, said, "There are challenges to providing a seamless healthcare experience, even for insured customers. These include paper-based systems causing inefficiencies, limited customer awareness of TPA choice rights, and inadequate understanding of health insurance policies, hindering informed decision-making."

The newly launched concierge service, Health Saathi, is designed to assist policyholders with hospital selection, paperwork, and treatment navigation, particularly aiding employees who are new to a city.

Mody emphasized that while TPAs serve customers, they are paid by insurance companies, creating potential conflicts. "Regulations allow customers to make TPA choices, but the distribution system has yet to evolve to facilitate informed choices," Mody added.

In addition to concierge services, Bajaj Finserv Health is introducing value-based care products, including a maternity care plan offering comprehensive support beyond financial reimbursement.

To further its goal of enhancing healthcare affordability, the company is investing in fraud detection technology and AI-powered systems to build trust and improve service delivery.

Bajaj’s Expanding Network

With a network of over 100,000 doctors and 16,000 hospitals, Bajaj Finserv Health processes 150,000 transactions monthly, addressing out-of-pocket outpatient department (OPD) expenses.

The company’s efforts align with the National Digital Health Mission by NITI Aayog, aiming to make cashless healthcare more accessible.

The acquisition of Vidal Health has strengthened Bajaj Finserv Health’s capabilities in healthcare administration. The company connects key ecosystem players by integrating digital platforms, offering seamless services across OPD, wellness, and inpatient department (IPD) care.

Mody anticipates a shift in the healthcare industry toward open architecture, empowering customers with more TPA selection options and ensuring a more patient-centric approach.

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