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HEALTH ASSURANCE

Introducing Health Assurance: A New Era of Indian Healthcare

Amrit SinghAmrit Singh

India stands at a healthcare crossroads, and the need for change is undeniable. The time for Health Assurance has arrived.

India stands at a healthcare crossroads, and the need for change is undeniable. The time for Health Assurance has arrived.

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October 3, 2023
Introducing Health Assurance: A New Era of Indian Healthcare
Introducing Health Assurance: A New Era of Indian Healthcare

India's Healthcare Crossroads

India is at a crucial point in its healthcare journey. Our healthcare system has been underperforming for decades. While other countries progress, India's healthcare system has stagnated or even regressed. On average, Indians live to just 69 years, compared to 84 years in Japan. That's 15 fewer years of life per person.

The health numbers in India are alarming: over 100 million diabetics, the world's highest rate of cardiovascular disease, not enough doctors or hospital beds, and unhealthy processed foods due to low awareness.

Challenges We Face

India's healthcare system has deep-rooted problems. We have too few doctors and hospital beds for our huge population. With just 5 hospital beds per 10,000 people and 1.2 million doctors for 1.4 billion citizens, doctors are overwhelmed. A typical doctor's visit lasts just 5 minutes, making it tough to understand a patient's medical history.

Worse, the current "fee for service" model rewards doctors for doing procedures, not for improving long-term health. This results in reactive healthcare, focusing on treating illnesses, not preventing them. Patients often seek alternative treatments due to concerns about unnecessary procedures. 

A Fresh Perspective

Solving these big problems requires a fresh approach to healthcare. We need a brand-new system that realigns financial incentives for hospitals and uses technology to make top-notch primary care accessible. 

Introducing Health Assurance

At Loop, we've created this new system called "Health Assurance." It's more than regular insurance. While insurance mainly covers major medical treatments, Health Assurance offers financial coverage for these treatments while also providing access to preventive care, wellness programs, and chronic disease management. Think of it as an insurance plan committed to preventing diseases, not just reacting to them. 

The Key Elements of Health Assurance

Correcting Incentives: We reward doctors for achieving health goals, not just doing procedures.

Technology for All: Telemedicine makes care accessible to more people, offering continuous support for healthier lifestyles.

Prioritizing Prevention: Instead of waiting for severe illnesses, we focus on early intervention to improve health and reduce costs.

Empowering Data: Gathering comprehensive health data enables early disease detection and personalized care, including vital signs over time, family health history, and genetic profiles. 

The Vision of Health Assurance

Imagine a future where your cardiologist keeps track of your heart health through a wearable device. Picture your nutritionist checking in with you regularly. Envision your insurance covering annual lab tests. Health Assurance is about catching diseases early, helping you make better daily choices, guiding doctors to make better decisions, and ensuring you lead a happier, healthier life. 

Why Act Now?

The urgency is clear. Our healthcare system is inadequate and costs us years of life. We need to restart and build a more effective system to extend the lives of over a billion people.

The foundation is already laid, with scientific support for personalized healthcare, lower sensor costs, increased insurance coverage, and growing health awareness. Now is the time to build Health Assurance for India. 

Join the Movement

At Loop, Health Assurance is not just a plan; it's a promise. The current system is not just inadequate; it's unfair. We have the tools, technology, and talent to bring transformative change. India's health is its wealth and future. Let's not waste it. Together, we can reclaim those 15 years each of us deserves.

Join us in building a healthier, happier India.

Introducing Health Assurance: A New Era of Indian Healthcare
written by
Amrit Singh
Co-founder at Loop Health
 at 
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