Network matters: Choosing the best medical insurance with widespread network hospitals

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Most people choose to look for the rate of medical insurance premiums or the coverage the insurance plan provides. There is an essential factor that people keep as an afterthought, which is the network of medical facilities tied to the insurance policy. Network Hospitals are a collection of medical institutions that collaborate with an insurance provider to offer policyholders seamless medical treatment. Good Network Hospital coverage can turn a regular insurance plan into one of the best medical insurance in India.

It is a nightmare for anyone to be insured under a good policy, but find out that none of their preferred doctors are covered. It is even worse to have to be in the middle of a medical emergency, and not have any Network Hospitals nearby to go to. This situation results in delayed treatment, additional costs, and even a compromise in treatment. This is even more severe when you consider medical insurance for senior citizens, and how quick access to treatment can affect their healthcare.

It is in the hopes of avoiding such situations that people look for a good hospital network in a policy they are interested in.

What are Network Hospitals?

Network hospitals are medical facilities that have an agreement in place with an insurance provider to service policyholders. These hospitals ensure that policyholders have stress and hassle-free access to medical treatment under their care. The Network Hospital provides medical treatment to the policyholder and the insurance company directly settles the treatment costs on the insured’s behalf.

This is beneficial for both the Network Hospital and the Insurance Company:

• The Network Hospital are given a huge amount of patients through the insurance company. This is much more lucrative in comparison to traditionally marketing themselves to people on a long-term basis.

• The Insurance Provider covers any claim that is under their policy. Due to the tie-up they have, the Insurance Company will pay medical fees that are much less expensive than if they didn’t have the tie-up. This reduction in fees is offset for the hospital by the fact that they get a consistent in-flow of patients through the insurance company.

Benefits of Network Hospitals

This relationship between the hospital and the best health insurance company also has a lot of benefits for the policyholders as well. Some of the benefits of Network Hospitals are:

Convenience

Policyholders choose Network Hospitals strategically based on the accessibility and quality of medical treatment they give to the insured. People covered by certain insurance policies can visit these facilities without having to pay for any expenses. This is because the insurance company directly pays the medical expenses to the hospitals.

Cost

The rates of medical services are often previously negotiated by network hospitals with the insurance carrier. The policyholder benefits from greater cost reductions as a consequence of this negotiation. Lesser fees for the policyholder ensure that they have financial savings and a higher sum assured survival for future treatment.

Efficient claim processing

It is never simple for policyholders to handle insurance claims. With network hospitals, however, the amount of time they have to spend on insurance claims is severely reduced. Because the hospital is fully familiar with the insurance company’s procedures, this leads to smoother and faster claims processing. This ensures that policyholders get timely medical treatment, and simple and quick claims processing while recovering.

What to consider when choosing Network Hospitals

There are many merits and advantages to choosing the best medical insurance policy in India with Network Hospitals. The best medical insurance policies are enhanced by the fact that they provide a policyholder with good network hospitals as well. But choosing one requires certain factors to be considered. These factors are:

Adequacy

Evaluate the insurance company’s list of network hospitals and medical facilities to ensure that the facilities are close to you, and are hospitals you trust. Having a network hospital close to where you live makes it very convenient for you to go to that hospital for any medical emergencies.

Cost management

While Network hospitals provide huge cost-savings, sometimes they may not be the best choice for your medical needs. In that case, you have to consider and balance the needs and budget you have when you require treatment.

Healthcare requirements

Sometimes, a Network Hospital does not provide the medical care you need. For example, a Network hospital that specialises in optical care will not provide the best ENT treatment for your needs. In that case, you need to ensure you have a holistic list of network hospitals around you to fully cover all your medical needs.

Final thoughts

Network hospitals should be considered while selecting a health insurance plan. They provide efficient medical care, and hassle-free claims processing for policyholders that opt for treatment with them. Insured patients also don’t have to deal with paying for any costs there, as the insurance company directly covers all expenses with the network hospital. Some of the best medical insurance in India like Niva Bupa offer extensive coverage, with over 10,000 hospitals in their network.