The landscape of healthcare finance in India is changing dramatically, thanks to creative enterprises that use technology to make healthcare more accessible and inexpensive. Several significant businesses are leading the push, providing specialised financial solutions geared to the healthcare industry’s specific demands. These firms are transforming the way healthcare is paid by giving interest-free loans and fast-tracked insurance claim processing, as well as allowing patients to acquire cutting-edge medical equipment and offering flexible payment plans. They also offer flexible payment plans and innovative instant personal loan app to support a range of healthcare-related expenses. This article showcases some of the organisations that are transforming healthcare financing in India, ensuring that great medical treatment is accessible to all.
DigiSparsh: Transforming Healthcare Financing in India
DigiSparsh is revolutionizing healthcare financing in India with its pioneering FinTech platform, designed to make healthcare accessible and affordable for all. The company offers comprehensive financial services across the healthcare ecosystem, including interest-free loans and claim servicing for patients, bill discounting against insurance receivables for hospitals, and supplier financing for merchants. Additionally, their innovative Tatk@@l service allows patients using cashless facilities to be discharged from hospitals within 60 seconds of bill preparation, eliminating the typical 4-8 hour wait for insurance approval. With a vision to provide accessible healthcare through financial solutions and a mission to leverage cutting-edge technology, DigiSparsh is transforming the landscape of healthcare finance in India.
Policybazaar.com: Leading the Way in Digital Insurance and Healthcare Finance
Policybazaar.com is one of India’s largest digital insurance platforms and the flagship platform of PB Fintech, which also owns the fintech brand Paisabazaar.com and the lending and insurance marketplace Policybazaar.com in the UAE region. Backed by numerous investors, including PE funds and family offices, Policybazaar.com was established to educate people on insurance products and has effectively addressed the large and highly underpenetrated online insurance market. With a mission to build a safety net for households in India and a vision of creating a healthy and well-protected nation, Policybazaar.com is a leading player in the healthcare finance landscape.
Fibe: Empowering Young India with Innovative Healthcare Financing Solutions
Fibe (formerly EarlySalary) is a leading consumer lending app in India, catering to young, tech-savvy professionals. Initially launched to address short-term cash crunches, Fibe now offers a wide range of financial products, including specialized healthcare financing.
Fibe’s healthcare finance program provides up to INR 10 lacs for top-quality medical care without the burden of immediate costs. The funds are directly credited to healthcare providers, offering low-cost or interest-free EMIs. With flexible repayment terms and no foreclosure charges, Fibe ensures healthcare remains accessible and affordable during life’s challenging moments.
Committed to economic empowerment and fulfilling the aspirations of young India, Fibe continues to expand its reach and impact, making healthcare financing seamless and stress-free for all. Additionally, Fibe offers personal loan options to support a variety of financial needs, reinforcing its commitment to economic empowerment and fulfilling the aspirations of young India.
Clix Capital: Innovating Healthcare Finance for a Better Tomorrow
Clix Capital stands out as a leading force in healthcare financing, revolutionizing the lending landscape with its digital prowess. Led by CEO Rakesh Kaul, Clix Capital offers tailored financial solutions, including healthcare equipment finance, to meet the evolving needs of the sector. With a focus on advanced technology and analytics, Clix Capital has transitioned into a retail-focused entity, serving over 3 million customers across India. The company provides loans of up to INR 15 crores to healthcare institutes and practicing doctors with competitive interest rates. They offer both loans and leasing solutions for new, refurbished, and used medical equipment, with long tenures and high Loan-to-Value (LTV) ratios. Clix Capital operates without geographical limits, funding healthcare professionals nationwide. Their exclusive Fast Track Programs offer fast track sanction within 24 hours for loans up to INR 1 crore, with minimal documentation required. Clix Capital’s proactive measures to mitigate portfolio stress and reduce non-performing assets underscore its commitment to responsible lending practices. Backed by strategic partnerships and a robust platform, Clix Capital is poised to expand its footprint in healthcare financing, driving accessibility and affordability in the sector. Through healthcare equipment loans, Clix Capital enables medical professionals to access the latest technology, ensuring modern equipment and world-class care for patients across India.
InsuranceDekho: Revolutionizing Healthcare Financing through Insurtech
InsuranceDekho, founded in 2017 by Ankit Agarwal, has rapidly emerged as a leader in the Indian Insurtech landscape, transforming the insurance sector with its innovative, AI and ML-powered digital platform. The company aims to simplify insurance processes, making it more accessible to millions across the nation. With over 8 million customers served and insuring 21 Indians every minute. Headquartered in Gurugram, InsuranceDekho offers a comprehensive range of insurance products, including health, motor, life, travel, and pet insurance, in partnership with over 48 insurance companies. The platform not only provides extensive coverage options but also boasts a robust support system, including 24×7 claims assistance. Through its ID Academy, the company empowers a vast network of agents, significantly enhancing their income and fostering economic independence, particularly among women. Recognized for its excellence, InsuranceDekho continues to innovate and expand.
SaveIN’s Game-Changing Approach to Healthcare Financing: Bridging Affordability Gaps with CNPL
SaveIN is a fast-growing healthcare fintech company that helps people split their medical expenses into easy monthly instalments at private healthcare practices.Â
The core challenge it aims to address is the financial burden faced by millions of Indians when it comes to planned or unplanned medical treatments. Currently, over 90% of Indians lack private healthcare insurance, leading to over 75% out of pocket expense towards healthcare. Furthermore, even those with private healthcare coverage often find themselves inadequately covered in terms of treatments and products, as many crucial services remain outside the scope of traditional healthcare insurance.Â
Additionally, medical inflation in India is 15% per annum, thereby making paying for private healthcare prohibitively expensive and frictional for many.Â
As Indians look to prioritize personal health and wellness, SaveIN’s unique approach of creating an end-to-end system for availing private care without breaking the bank may just be the solution needed both by customers and medical practices alike.
Disclaimer: The following list is based on our research and survey and is not ranked according to the performance of the companies. While this feature highlights specific organizations, many other organizations are playing a crucial role in healthcare financing.
