Dr Devi Shetty’s foray into insurance, says future linked to integrated model of health cover

financialexpress.com:

Will a doctor ever want to be in the insurance business? After all, doesn’t every new operation, add to a surgeon’s income and every denied procedure an addition in the profits of an insurance company? But then, Dr Devi Shetty, founder chairman of Narayana Health and one of India’s leading cardiac surgeons says, “in all my 33 years back in India the whole discussion was around affordable healthcare and cost reduction. But today, any further lowering of costs in medical procedures will be at the cost of quality and since we cannot compromise on the quality but do still need to make healthcare affordable, the only option available is affordable health insurance.” The hope for the country now, the doctor reminds, “is not universal healthcare but  universal health insurance.” 

Explaining the confluence of factors – ranging from the changing cost dynamics, increased patient awareness and a proactive regulator – that led to his renewed interest in medical insurance yet again after 17 years, he says, “about two months back (around July) we applied for a licence to set up ‘Narayana One Health’ as a 100 per cent subsidiary of Narayana Health and we do hope that we get the regulatory approval and license in a few months.” 

Ask him about what difference it will make and there is a palpable sense of excitement. He says, “we will unfold a new model of integrated care with presence across primary, secondary and tertiary care.” For this, he says, “we are setting up a chain of primary clinics and have already set up around 10 in Bengaluru and adding more.” For not only do people typically not like going to a hospital and are more comfortable in a clinic, many do not necessarily need to visit a hospital also. This model, he explains, is