Policybazaar, Paramount Health TPA, & Insurance Firms Introduce '15-Minute Express Discharge' for Cashless Claims

The initiative is currently being piloted for employees of select corporations that have purchased group health insurance from Policybazaar for Business and have opted into the service.

Policybazaar for Business, Paramount Health TPA, and associated insurance companies have launched the '15-Minute Express Discharge' service to address delays in hospital discharge for cashless insurance claims.

Typically, patients face extended waits of 5-6 hours after a doctor approves discharge due to internal hospital processes and TPA coordination. This new service aims to reduce the discharge time to just 15 minutes.

The initiative is currently being piloted for employees of select corporations that have purchased group health insurance from Policybazaar for Business and have opted into the service.

Sharing thoughts, Sajja Praveen Chowdary, Director & Head at Policybazaar for Business, said, “Through our research we have seen that the wait time during the time of discharge is one of the biggest dissatisfiers for any individual in their hour of need. We strongly believe that the precedent this initiative sets will help bring about a much-needed change across the insurance industry, much in line with IRDAI’s recent initiatives to reduce the TAT for claims.”

Policybazaar is the flagship platform of PB Fintech and is one of India’s largest online insurance platforms. PB Fintech launched Policybazaar in 2008 to respond to Consumers’ need for more awareness, choice, and transparency and create a consumer-pull-based, provider-neutral model for insurance distribution.

Atman Shah, COO, Paramount Health TPA, said, "This initiative significantly reduces emotional stress during critical stages and promises to enhance the overall customer service experience, creating a win-win situation for all stakeholders involved."

Earlier this year, the General Insurance Council extended cashless hospitalization benefits to policyholders, even in non-impaneled hospitals. As part of the initiative titled 'Cashless Everywhere,' registered hospitals with 15 beds and compliance with state health authorities under the Clinical Establishment Act are now authorized to offer cashless hospitalization.

The initiative is aimed at providing policyholders with a seamless and cashless experience. It also seeks to empower the policyholders to choose any hospital for treatment with a cashless facility.