"Cashless hospitalisation" is one such benefit. It enables the person insured to get admitted to a hospital directly without any hassles pertaining to arranging money. The medical health insurance company takes care of the bills.
There have been significant developments in the field of healthcare in our nation in the past few decades. The number of hospitals, clinics, doctors has increased. There have been technological advancements, medicinal researches and many more changes that have made the healthcare facilities better and more accessible to the population. The health insurance industry is closely tied with healthcare facilities. Naturally, changes and advancements in one field would spill over to the other. Health insurance companies are always on the lookout for changes they can make or new benefits they can introduce to make the stressful time of illness a little bit easier for their policy holders.
"Cashless hospitalisation" is one such benefit that the insurance companies have started offering. There are multitudes of health insurance companies and it is partly out of competition and partly out of a need to simplify the claim process, that this benefit has been introduced. With this benefit, when the need arises, a policy holder can get hospitalised and receive treatment right away, without worrying about the money. The medical health insurance company will take care of all the bills and any payments directly.
The policy holder needs to only worry about two things. Firstly, he needs to check whether or not the hospital that he is going to is on the panel of the company that he is insured with. Secondly, he has to get the approval of the "third party administrator". Once, he has done these two things he can go to whichever hospital he prefers, get hospitalised and receive proper treatment. This way the patient focuses on getting well while the insurance company worries about the financial aspect.
This benefit really comes in handy in cases of emergencies. If there has been an accident or a serious medical crisis that demands urgent medical attention, the patient cannot possibly be expected to first go to a bank to get money. With "cashless hospitalisation" all the policy holder has to do is get to the hospital and leave it to the health insurance company to take care of the rest. This benefit is also highly significant if the policy holder needs to be hospitalised in a new place. Being in a new place adds new risks and problems. If you do fall sick in a new place it will be harder to deal with it as there might be limited cash and no people you can call.
Keeping all this in mind, the medical insurance companies came up with the clause of "
cashless hospitalisation". This benefit is so useful that anyone looking to buy health insurance should make sure that it is included in his policy.