Financial services conglomerate Bajaj Finserv on Tuesday announced its foray into the healthcare ecosystem with the launch of Bajaj Finserv Health Ltd (BFHL), a healthtech solutions business.
The venture, which is a wholly owned subsidiary of Bajaj Finserv, is offering ‘Aarogya Care’, an industry first product, providing preventive, personalised, prepaid health care packages to consumers.
With a mobile-first approach, Aarogya Care integrates the various complementary components of the health ecosystem, to provide ease of access to quality and affordable healthcare, anytime, anywhere.
“With a consumer-first, digital approach and a culture focused on excellence through innovative disruption, Bajaj Finserv addresses the financial needs of consumers in an increasingly phygital world. Health is at a centre stage today,” Bajaj Finserv chairman and managing director Sanjiv Bajaj said.
With Aarogya Care, BFHL is integrating the fragmented healthcare delivery ecosystem with advanced technology and financial services to bring quality healthcare closer to consumers’ reach, while taking care of their health financing worries, he said.
Speaking at the virtual event, NITI Aayog chief executive officer (CEO) Amitabh Kant said the health care segment stands at the cusp of major digital transformation and the country’s health sector needs more and larger Indian companies to infuse it with the right resources and support.
“The COVID-19 pandemic has presented a unique opportunity to transform our health care system and with Bajaj Finserv entering the space, it will set a unique example and encourage many more private sector players come forward and partner with the health sector to help realise the vision of building a healthy and a very progressive India,” Kant said.
The Bajaj Finserv Health App is like a personalised health manager, offering consumers a one-stop destination to avail convenient, connected and cost-effective health solutions. It enables the customer to receive and maintain health records digitally, which would be integrated with the National Health ID, the company said.
The offering has health insurance coverage from Bajaj Allianz General Insurance and pre-approved health EMI facility from Bajaj Finance, to protect consumers from unexpected high medical costs.
The company has empanelled 112 hospital partners, operating 200 hospitals in the country, three diagnostic and laboratory centres having 671 consumer touch points and over 9,000 doctors registered on the platform.
The healthcare services will be provided by these network partners, the company said.
Bajaj Finserv Health CEO Devang Mody said with Aarogya Care, the company is working with its provider networks to overcome the healthcare barriers and making healthcare delivery affordable, accessible and personalised for consumers.
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