ICICI Lombard along with healthcare startup, Practo, has launched a cashless insurance for outpatient consultations (OPD).
The two entities have launched an application which will help track actual expenses on doctor consultations, pharmacy spends and tests.
ICICI Lombard says that they saw an opportunity in this space as early as 2007. Now, doctors will get empanelled and cashless transaction will take place.
The application will allow the patient to claim to file it and get real-time approval for the expense. The application will also store the patient's medical records.
This will allow patients to choose insurance plans as per their need without restrictions on a number of consultations. Teleconsultations will also be eligible for an insurance claim.
66% of the healthcare spending in India is on OPD consultations.