Whether you plan hospitalization according to your medical needs or need emergency medical care, ensuring your financial means for such a contingency is essential. MediBuddy seeks to deliver cashless healthcare to all members across the country. With MediBuddy, you can conveniently utilize your health benefits to avail all expenses covered under your policy. But hospitalization invariably includes out of pocket expenditure that is not payable under your policy. MediBuddy now presents a novel way to enjoy a completely cashless hospitalization.
MediBuddy and InCred
In order to be able to deliver on the promise of a full cashless hospitalization, we have partnered with InCred to provide medical loans for the otherwise non-payable component of the bill with your insurer. As a financial services platform that leverages technology and data-science to make lending quick and easy, InCred offers medical loans to cover out-of-pocket expenses that your health insurance benefit may not cover. Typical examples of out of pocket expenses borne by members include the following:
- Non-medical expenses such as consumables.
- Medical spend beyond sum insured during the policy term
- Spend beyond caps and limits defined in your health insurance policy
How Do I Avail this Service?
For Planned Cashless Hospitalization
When you plan your hospitalisation through MediBuddy for any treatment that requires a length of stay (LOS) of three days or more, you will automatically receive an alert to consider availing a medical loan from InCred. A link will be provided to take you through the loan application process.
Following this, InCred takes up to 48 hours to assess your request and confirm your eligibility for the loan. This process falls in sync with the average time taken to respond to your eCashless request and issue a provisional preauthorization with estimated cost of treatment and expected out of pocket spend. This means that when your eCashless request is confirmed, InCred too has completed their due diligence, and you will receive the confirmation for the eligible loan amount almost simultaneously.
For Emergency Cashless Hospitalization
Even in case of emergencies, when you walk in directly to the hospital and raise a preauthorization request for cashless admission, you can request your network hospital to intimate your preference to Medi Assist if the expected length of stay is more than 2 days (allowing InCred the time they need to complete their evaluation process). Your hospitals will also automatically receive a notification about the availability of the medical loan facility when raising your preauthorization online on MediBuddy.
A Fully Cashless Experience
Once you confirm your interest in the medical loan, your details will be sent to the InCred team for further processing, necessary paperwork and credit evaluation. The final disbursement amount can be obtained at the time of final billing.
So when it’s time to settle your final bill at the hospital, the portion covered by your policy is administered by Medi Assist on behalf of your insurer; and the out of pocket component is covered by InCred’s loan – and you get discharged from the hospital after a truly cashless healthcare experience as per our promise!
Here are some FAQ’s to help you make an informed decision about hospitalization with an InCred loan.