PB Fintech To Invest In Health Maintenance Organisation, Says CEO Yashish Dahiya
He expects the initiative to "lead to lower claims and an enhanced customer experience".
PB Fintech will invest in an independent health maintenance organisation, according to Yashish Dahiya, chairman and group chief executive officer of the parent company of Policybazaar and Paisabazaar.
The company plans to invest up to Rs 800 crore, approximately $100 million, over the coming quarters and acquire a 20–35% stake in the HMO, subject to the approval from the company's board.
"With healthcare costs escalating rapidly, both the industry and the middle class are struggling to manage the financial burden. The investment is aimed at tackling critical challenges in the healthcare sector, particularly by reducing expenses for insurers and minimising conflicts of interest between patients and hospitals," Dahiya told NDTV Profit in an exclusive interview.
"HMO is not a new concept; it has existed all over the world. This initiative would lead to lower claims and an enhanced customer experience," he noted.
One of the primary goals is to alleviate customer concerns about the approval and payment of their claims. "Customers often worry about whether their claims will be approved and they will receive the amount. The goal is to better align the interests of customers and hospitals, fostering a more transparent and efficient healthcare ecosystem," Dahiya shared.
PB Fintech plans to streamline the customer experience while simultaneously reducing costs. The company is also investing in care and wellness to further enhance its offerings.
HMOs, which are dedicated to the insurance industry, are seen as trusted partners by insurers due to their alignment with insurance procedures.
Dahiya emphasised that the investment is a one-time commitment with no obligation for future funding. "It’s a huge benefit to PB Fintech if this grows," he said, adding that the insurer, distributor, and hospitals would all be beneficiaries under this new model.
"From PB Fintech shareholders' perspective, the total potential loss is the investment. Also, a lot of this investment is going into real estate," Dahiya explained.
He mentioned that much of the investment would focus on securing land, providing a layer of protection against downside risks for the company.
