Bajaj Finserv enters healthtech solutions business

Bajaj Finserv enters healthtech solutions business
The Bajaj Finserv Health App is sort of 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 might be integrated with the National Health ID, the corporate said.

A Bajaj Finserv Ltd. advertisement is displayed at an Apollo Speciality Hospital, operated by Apollo Hospitals Enterprises Ltd., stands within the Vanagaram area of Chennai, India, on Saturday, Nov. 17, 2018. (Photographer: Dhiraj Singh/Bloomberg)
Financial services conglomerate Bajaj Finserv on Tuesday announced its raid the healthcare ecosystem with the launch of Bajaj Finserv Health Ltd (BFHL), a healthtech solutions business.

The venture, which may be 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 varied complementary components of the health ecosystem, to supply simple 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 director Sanjiv Bajaj said.

With Aarogya Care, BFHL is integrating the fragmented health care 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 military officer (CEO) Amitabh Kant said the health care segment stands at the cusp of major digital transformation and therefore the country’s health sector needs more and bigger Indian companies to infuse it with the proper resources and support.

“The COVID-19 pandemic has presented a singular opportunity to rework our health care system and with Bajaj Finserv entering the space, it’ll set a singular example and encourage more private sector players come to the fore and partner with the health sector to assist realise the vision of building a healthy and a really progressive India,” Kant said.

The Bajaj Finserv Health App is sort of 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 might be integrated with the National Health ID, the corporate said.

The offering has insurance coverage from Bajaj Allianz General Insurance and pre-approved health EMI facility from Bajaj Finance, to guard consumers from unexpected high medical costs.

The company has empanelled 112 hospital partners, operating 200 hospitals within the country, three diagnostic and laboratory centres having 671 consumer touch points and over 9,000 doctors registered on the platform.

The healthcare services are going to be provided by these network partners, the corporate said.

Bajaj Finserv Health CEO Devang Mody said with Aarogya Care, the corporate is functioning with its provider networks to beat the healthcare barriers and making health care delivery affordable, accessible and personalised for consumers.

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