Insurance companies like Aditya Birla Health Insurance, Star Health & Allied Insurance, Bajaj Allianz Insurance Company and HDFC ERGO Insurance, ICICI Lombard General Insurance, The New India Assurance Company, Tata AIG General Insurance Company have completed NHCX integration.
The National Health Claim Exchange (NHCX) is likely to be launched in the next two-three months. This will make the claim settlement process faster and more transparent. Official sources gave this information on Wednesday. NHCX is a digital health claim platform. It has been designed by the National Health Authority (NHA) to ensure faster processing of health insurance claims. It will standardize insurance claim processes. It will also ensure transparency. All insurance companies and other parties will be on it. The National Health Authority (NHA) and the Insurance Regulatory and Development Authority of India (IRDAI) had joined hands last year to launch NHCX.
All insurance companies will be included
IRDA had advised all insurers and service providers to include NHCX through a circular in June 2023. Insurance companies have separate portals, which makes it cumbersome for hospitals, patients and other concerned parties to settle health insurance claims and takes more time. The source said, NHCX is ready and is likely to be launched in the next two-three months. The claim platform has been developed as part of the Ayushman Bharat Digital Mission (ABDM).” All insurance companies will be on one platform through NHCX. It will serve as a common platform for the exchange of claims-related information between various parties in the healthcare and health insurance environment.
Transparency will increase in the insurance sector
The source said, “Integration with NHCX will make the settlement of health claims possible in a seamless manner. Along with this, efficiency and transparency will increase in the insurance industry. This will benefit policyholders and patients.” NHA and IRDA are conducting meetings and workshops with hospitals and insurance companies for full integration of 40-45 health insurance companies with NHCX. Insurance companies like Aditya Birla Health Insurance, Star Health and Allied Insurance, Bajaj Allianz Insurance Company and HDFC Ergo Insurance, ICICI Lombard General Insurance, The New India Assurance Company, Tata AIG General Insurance Company, Paramount TPA, United India Insurance Company have completed NHCX integration.
Cost of claim settlement high
Officials had said that the current process of exchange of claims lacks standardization. Most of the data is exchanged in PDF or ‘manual’. Processes vary widely between insurers, TPAs and service providers. This increases the cost of settlement of each claim.
