Pune – To reduce the burden of patients’ out-of-pocket expenses, and aiming to make healthcare more affordable, several hospitals including Colony Nursing Home, Shree Hospital and Indira Maternity Home in Pune, Maharashtra have partnered with AffordPlan.
.The innovative fin-tech platform will help smoothen the cash flow for non-insurance patients’ by breaking up the lump sum amount of their medical expense into smaller manageable instalments.
AffordPlan, is a first-of-its-kind financial technology platform that enables healthcare savings. It helps patients save and pay for planned, non-emergency, medical procedures such as maternity, dental, cataract surgery etc. Through its unique savings solutions, AffordPlan is helping patients reduce 15% – 20% at partner hospitals. More than 800 hospitals and healthcare ancillaries including pharmacies, path labs, etc. have already partnered with AffordPlan across the country.
Dr Bharati Dhore Patil of Shree hospital Nagar Road &Kharadi, Pune said “AffordPlan is an innovative mechanism for patients who are not covered by insurance. We are seeing good adoption from the patients for the AffordPlan product.”
Tejbir Singh, Co-Founder and CEO of AffordPlan said, “Healthcare spends impact all in the course of their lifecycle, albeit differently, and the majority of Indians are plagued with spends that are unplanned and out-of-pocket. Through our savings product, hospitals and patients can co-design flexible payment plan for their medical treatment. AffordPlan offers a manageable payment structure, developed specifically for an individual’s need based on their liquidity.”
AffordPlan allows patients to save an amount they are comfortable with on a daily, weekly, or monthly basis and to make payments as per their convenience through a number of platforms including cash payment at the AffordPlan desk or the local pharmacy; bank transfer and online payment; or the payments can even be collected from the customer’s doorstep. While AffordPlan addresses treatment across dental, eye care, knee replacement procedures, the sizeable chunk of the product caters to maternity. Expenses for a normal delivery alone cost anywhere between INR 20,000 – 50,000 without accounting for unexpected occurrences that may need urgent medical intervention and therefore further expenditure. The unique nature of the product and services brings down the overall cost (including out-of-pocket expenses) of treatments by as much as 15%-20%.
About AffordPlan
Launched in 2016, AffordPlan is a first-of-its-kind fintech platform, which is at the intersection of finance, healthcare and technology. The start-up is building a full stack of financial services for healthcare across savings, lending and insurance products. The savings product allows for planned savings, ideal for non-emergency treatments such as maternity, dental, eye care, knee replacement and more. Hospitals and patients can co-design flexible payment plans so that patients can obtain medical treatment and products through a manageable payment structure developed based on individual need and cash flow. Deeply rooted in financial innovation in healthcare and backed by continuously deepening distribution and supply chain capabilities.
AffordPlan has partnered with more than 800 hospitals across Delhi NCR, Mumbai, Bangalore, Ahmedabad and Pune. AffordPlan is committed to enable affordable and accessible healthcare to all.
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