Healthcare expenses in India are rising at a worrying rate of 14% year, according to the ACKO India Health Insurance Index 2024. Double-digit healthcare inflation is the main cause of this increase in costs, which is severely taxing individuals and families. According to the survey, 23% of hospital charges in India are financed by borrowing, meaning that 62% of healthcare expenses are paid out of pocket, which has a significant negative influence on families’ ability to pay for their needs. The research places a particular emphasis on the need for expanded healthcare coverage in order to guard against unforeseen health emergencies.
Major health challenges in India are also discussed in the report, with a focus on cancer, heart disease, and renal disease in particular. With the greatest percentage of kidney-related health insurance claims, Delhi has been named the kidney illness capital. Bengaluru, Jaipur, Secunderabad, Kochi, and Delhi were the next cities to record above-average claims for kidney-related problems. Patients claiming kidney and renal disorders are 47 years old on average, which indicates serious health issues at a relatively young age. Rs 24,73,894 was the cost of one of the biggest kidney-related claims that was made last year, highlighting the significant financial burden that these medical ailments come with.
The research also highlights heart illness as a key problem, with the biggest claims for heart-related conditions being made in Kolkata and Mumbai. Between the ages of 31 and 50, hospitalizations for cardiac illnesses have significantly increased, a worrying trend given the younger age group these health issues affect.
Additionally, the research projects a 13% rise in cancer incidence from 2020 to 2025. This emphasizes how important it is to manage the cancer burden in the nation by implementing preventive measures, early detection, and cost-effective treatment choices.
The Indian government has launched several programmes targeted at enhancing access to healthcare in order to address these issues with healthcare. Notably, on September 11, 2024, the Union Cabinet approved the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY), which provides health coverage for all senior persons aged 70 and over, regardless of their income. The largest publicly financed health insurance program in the world, it covers all eligible family members, regardless of age, and offers health coverage of Rs 5 lakh per family per year for secondary and tertiary care hospitalization. These steps are intended to lessen the financial burden of healthcare expenses and increase senior citizens’ access to high-quality medical treatment.
SOURCE :
BW BUSINESS WORLD
