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The importance of accurate diagnosis can’t be denied in terms of avail the right treatment. However, with an increase in expenses in the medical sphere, diagnostic costs have also witnessed a steady rise in the past few years making outpatient health insurance a need. In 2022, India reported a clinical diagnostic market of 1.25 billion dollars. The number is expected to rise to 2.5 billion dollars by 2030.
With new entrants in the diagnostic sector, a further rise in expenses is expected, especially in speciality and high-end medical tests. Well, coping with these high medical expenses becomes easier with outpatient health insurance. This article will discuss outpatient insurance, its importance and why you should opt for outpatient health insurance. Let’s begin with the importance of OPD and how OPD insurance comes into the picture.
OPD, stands for Out-Patient Department, is the department of a clinic/hospital responsible for the medical diagnosis of a patient. It may also include minor surgeries and screenings. OPD consultations help the physician to diagnose the illness and proceed with the treatment further. Post COVID, the strikingly rising number of OPD visits has made it easier for people to keep a close eye on their health. Not to forget, OPD expenses can be hefty as well depending on the types of diagnosis. Hence, Outpatient medical insurance can be a useful coverage that helps cover the OPD expenses of the insured individual. Continue reading to know more about OPD health insurance.
Health insurance plans have been evolving in adherence to the changing dynamics of healthcare needs. Striving to offer more comprehensive health insurance plans than ever before, health insurers have started incorporating new-age features and benefits. One such benefit that has gaining popularity recently is health insurance with outpatient coverage. A sedentary lifestyle has led to a rise in lifestyle diseases like diabetes, thyroid, hypertension, and so on. Although such diseases may not always require hospitalisation, regular doctor visits and consultations can seem never-ending. It can put considerable financial strain on the insured since regular tests, screenings, and doctor visits become a regular part of life. However, when you have health insurance with outpatient coverage, you need not worry about OPD expenses.
Here is a list of coverage mostly provided under outpatient health insurance:
Although, anyone can buy outpatient health insurance, OPD cover may not be an in-built feature. Insurers like Care Health Insurance offers this as an add-on cover with the basic health insurance. If you too are planning to buy one you should consider knowing these:
Insurance industry is full of jargons that may create confusion at times. When it comes to understanding outpatient health insurance, daycare cover is a common term that is mistakenly being used interchangeably.
Although both OPD and daycare covers do not involve in-patient hospitalisation expenses, these two are quite different. Refer to this table below to understand the differences between outpatient and daycare coverage of a health insurance plan:
Outpatient Cover | Daycare Cover |
---|---|
It refers to the expenses of the outpatient department | Daycare expenses are not limited to the outpatient department |
Outpatient health insurance covers diagnosis, tests, screenings, and minor medical treatments | Daycare treatments include any medical procedure, treatment, or surgery that does not require 24+ hours of hospitalisation |
Outpatient department treatment does not require hospitalisation | Daycare treatment may involve hospitalisation. However, not for more than 24 hours |
Depending on the medical procedure, the costs of OPD and daycare treatments may vary. With Care Health Insurance, you get coverage for both OPD and daycare treatments as a comprehensive health insurance plan.
>> Also Read: Inpatient vs. Outpatient Care: What Your Health Insurance Covers?
Be it diagnostics, medical investigations, minor treatments, or pharmacy expenses, outpatient insurance can offer you a reimbursement for all these expenses. The continuous rise in medical costs and increasing cases of lifestyle diseases have made it important for people to invest in a comprehensive health plan. Adding OPD coverage to your health insurance can be of great significance, especially to those who are suffering from chronic diseases. You can get Care OPD as an optional cover along with your family health insurance and get coverage for 4 specialist consultations in OPD. Connect with our experts to know more about the plan and manage those unplanned yet necessary expenses.
Disclaimers: The above information is for reference purposes only: Policy Assurance and Claims at the underwriter's discretion.
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