In Analytics Insight
December 6, 2021
Healthcare and technology are now integrated with finance in Aphrodite. Health Care Savings Card, Medical Credit and Insurance Services are very popular. He has worked with hundreds of hospitals in 15 cities, reaching more than 5,000 patients with his products.
This unique organization is led by Aditi Sharma and has been interviewed by Analytics Insights.
Kindly inform us about the company, the differences and the services your company provides.
A.D. Launched in 2015, Affordpplan is the first Fintech platform of its kind, focusing on financial, healthcare and technology communications. We have partnered with hundreds of hospitals in 15 cities, affecting the lives of more than 5,000 patients with our products. Swasth – Our current innovation is a health insurance card developed in collaboration with YES BANK, which can be used in all OPD, IPD, laboratory and pharmacy services. Affordplan Swasth provides comprehensive financial services for health care, including OPD wallets, IPD savings, medical loans and insurance.
What is the mission and purpose of the company? In short, can you tell us about the journey you have taken since the company was founded?
Only a small percentage of people in India are lucky enough to get some kind of insurance. Health care needs in the country are met by savings, loans, family donations or personal assets. In the pursuit of quality medical intervention, most families experience fluid problems that can lead to financial loss.
Affordplan is designed to help Indian consumers better manage health care costs. The company has partnered with hospitals in India to offer options to reduce OPD costs and IPD processes and provide users with the care they need without costly. All of this makes it easy for a consumer to use a bank-backed card with full experience combined with technology.
We started with a goal-saving savings platform that allows patients to cut their medical bills in small installments without having to interrupt treatment or opt for other housing costs. That product has been well received and we have successfully delivered the product to over 500+ hospitals across India. A.D. In 2020, we launched India’s first health insurance card Swasth at YES Bank. We are gaining more than 100 partnerships in 15 cities in the fight against the epidemic and various storms.
Mention some of the major challenges the company has faced so far.
Affordford Swaz began in the middle of the epidemic, and hospitals were transformed into Covid centers. As a product intended for a health care audience, we have struggled with hospital owners and stakeholders. When hospitals choose to postpone treatment when corticosteroids are reduced, patients are less likely to fall.
The year came with a good lesson in learning about the product and the strengths of the organization.
What is your biggest USP that sets the company apart from its competitors?
Health care finance has long been limited to medical loans and medical insurance. There is a clear gap in out-of-pocket expenses and there are not many players to solve this problem. Due to the volatile market and the complexity of the value chain in terms of demand and supply, health care finances remain unaffected. By working with healthcare providers and seekers for 5 years, we have been able to win the last mile with hospitals and patients. This gives us a unique edge. We like to be proud of being a tech-savvy but people-oriented and intelligent player.
Affordplan Swasth is a platform designed to help both hospitals and patients. It is a locked platform for hospitals to help them increase profitability by increasing customer retention and hospital services. For patients, the Swasth card increases their financial capacity, allowing them to receive better quality medical care at selected hospitals.
Please let us know about the products / services / solutions you offer to your customers and how they are priced.
Affordplan partners with hospitals to help reach more families in need. When patients register, they will receive a bank-assisted swaste prepaid card and a digital wallet. Payments through Swasth for doctor visits, laboratory tests, examinations, and prescriptions Payments through Swasth will be used to reduce patient costs to the next Swasth wallet. This single payment platform allows patients to create IPD plans based on their choice of treatment, which allows them to save extra money on their medical expenses and pay a small fee before their treatment.
Swasth is equipped with a chip-enabled card, digital wallet, goal-based savings, loans and insurance. For emergency procedures, we have additional insurance, medical loans for zero interest rates, instant benefits and special offers for all hospital and Swasth health card patients.
Affordplan Swasth allows a patient to save up to 15% on out-of-pocket expenses OPD visits, including doctor’s consultations, laboratory tests and medication purchases. Hospitals can help create better patient travel with Swasth in the form of customized discounts on preventive examinations, ongoing medical procedures and counseling. Swasth Platform allows hospitals to respond more efficiently to their patients by supporting more efficient, seamless payment experiences.
What are your growth plans for the next 12 months?
We are expanding rapidly in India. We are already in all Level-1 cities and are now moving quickly to cover all city belts with high-quality health care. Expanding to the south in Chennai and ROK, we will begin to open in UP, Punjab and others in the north. We also begin to expand beyond the Western Hemisphere. The idea is to partner with more than 500+ hospitals in these states and reach as many patient communities as possible.
How has technology helped make Healthcare Financial Plans accessible by Ford Planner?
Our technology platform provides seamless integration with various insurance and lending companies, enabling users to create IPD plans to manage multiple insurance and loan options and IPD costs. The platform is cloud-hosted, secure, state-of-the-art, horizontally expandable and robust. It allows a very large number of simultaneous requests from users to be very low.
How is your company using advanced analytics and big data?
Our analytics solution is Google’s query server-wide, highly scalable data storage solution powered by Google. All transactions on our platform are subject to a large demand for consumer expenditures on OPD / specialist, chronic diseases and medications.
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