IRDA to establish citizen healthcare database

Insurance Regulatory Development Authority (IRDA) is in talks with two companies dealing in hospital administration to establish a citizen’s healthcare database.

This new system will gather medical data and is estimated to cost about 50 crores. The database will be managed by the Tariff Advisory Committee with daily updation. The maintenance costs is being planned to be passed on to the insured individuals through annual levies.

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This database will then be used by various interested parties such as new players in the health insurance market. The lack of such a database is being cited as one of the major reasons for many insurance companies not entering the Indian market. Through this database the whole system which includes doctors, hospitals, health insurers and third party administrators will benefit.

Currently the IRDA is in talks with two companies, a US based and an Indian company for setting up the database. However the Chairman of IRDA, Mr N Rangachary has mentioned that the initial cost estimates submitted by the company were too high. Negotiations are on to reduce the amount.

A nationwide medical information database could do wonders for those with medical insurance and those planning on getting some. Persons complete medical history just a few clicks away. And now the Insurance companies can also provide a much wider and more comprehensive coverage to their clients as well. However the only downer to this party seems to be the prescribed annual levies for the insured over the maintenance of the database.