Irda moves to check healthcare claim frauds
The Insurance Regulatory and Development Authority has decided to appoint research organisations to analyse the pattern of claims and hence check fraud.
PTI
- Apr 28, 2011,
- Updated Apr 29, 2011 10:57 AM IST
Insurance sector regulator IRDA has decided to appoint research organisations to analyse the pattern of claims to help the regulator put a lid on the insurance fraud in the healthcare sector.The Insurance Regulatory and Development Authority (IRDA) proposes to enter into a partnership with a firm or an organisation to report on industry-wide trends of fraudulent behaviour affecting the insurance industry," it said."The objective of this exercise is to benefit the insurance industry by developing effective reporting on industry-wide fraud trends within healthcare insurance and increasing the difficulty of committing fraud against insurer," IRDA said.
Such an analysis would help insurance companies lower their costs and offer better rates and service for consumers.IRDA has called a meeting of the interested entities on April 30 to explain to them the scope of research to be done.The issue of health insurance claim had become a bone of contention between the PSU insurers and big private hospitals.The insurance companies alleged overcharging by the hospitals.There are also allegations of fraudulent claims in connivance with the third party administrators (TPAs) to the benefit of the hospitals.The insurers were estimated to be paying 40 per cent more than the premiums collected in claims.
| HOW HEALTH INSURANCE SECURES YOU FINANCIALLYAre you insured enough? |
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Insurance sector regulator IRDA has decided to appoint research organisations to analyse the pattern of claims to help the regulator put a lid on the insurance fraud in the healthcare sector.The Insurance Regulatory and Development Authority (IRDA) proposes to enter into a partnership with a firm or an organisation to report on industry-wide trends of fraudulent behaviour affecting the insurance industry," it said."The objective of this exercise is to benefit the insurance industry by developing effective reporting on industry-wide fraud trends within healthcare insurance and increasing the difficulty of committing fraud against insurer," IRDA said.
Such an analysis would help insurance companies lower their costs and offer better rates and service for consumers.IRDA has called a meeting of the interested entities on April 30 to explain to them the scope of research to be done.The issue of health insurance claim had become a bone of contention between the PSU insurers and big private hospitals.The insurance companies alleged overcharging by the hospitals.There are also allegations of fraudulent claims in connivance with the third party administrators (TPAs) to the benefit of the hospitals.The insurers were estimated to be paying 40 per cent more than the premiums collected in claims.
| HOW HEALTH INSURANCE SECURES YOU FINANCIALLYAre you insured enough? |
Advertisement
Union Budget 2026 | Finance Minister Nirmala Sitharaman presented her record 9th Union Budget on February 1. The Budget has brought relief for travellers, students, exporters and clean-energy sectors, while tightening the screws on tax non-compliance and speculative trading.
Track live Budget updates, breaking news, expert opinions and in-depth analysis only on BusinessToday.in
Track live Budget updates, breaking news, expert opinions and in-depth analysis only on BusinessToday.in
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