Wed Nov 29 2023

Medical Inflation in India: Unraveling Causes

Medical Inflation in India: Unraveling Causes


India faces a noteworthy medical inflation rate of 14%, surpassing South Asian peers. Beyond headlines focusing on rising insurance premiums, this inflation stems from multifaceted factors. Government schemes, covering 40% of the population, remain unchanged for a decade, prompting financial strains on hospitals. The Pollution Control Board's mandate adds to these challenges. The rupee's depreciation impacts medical device costs, and the 18% GST exacerbates the inflationary pressures. With only 10-15% of the workforce investing in insurance, collaborative efforts led by IRDA aim to enhance coverage. Dispelling the myth of net medical inflation, achieving equilibrium requires coordinated efforts among government bodies, hospitals, and insurers.

Dr Umesh Bilagi's Avatar

Dr Umesh Bilagi

Founder CEO of Nice HMS, reshaping healthcare management. MD DM in cardiology, with 2 private hospital launches and impactful government tenure. Fusing medical expertise and tech for superior care is my mission.

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