Friday, May 12, 2006
The insurance regulator, Insurance Regulatory and the Development Authority (IRDA), is planning to introduce a new way of assessing health insurance claims in the country. Simply put, IRDA will prescribe new code for hospitals for reporting data.
The code, which would be prescribed by Classification of Diseases (ICD) of World Health Organization (WHO), would be standard for all the hospitals. The code would be called as ICD 10. The new code, ICD 10, is used worldwide for creating morbidity and also for mortality statistics and reimbursement systems. In Pics: It's also for non-engineers.
This new move is expected to bring in the more transparency in health care claims. Presently, hospitals do not follow a standard code for reporting diseases. If the new code is implemented, it would be an easier task for hospitals to report claims
Currently, most of the health insurance products are actually worked out on the basis of international reinsures data. ICD10 will give hospitals a leeway to set their premiums and at the same time it would enable them to give a clear picture of medical claims.
posted by kanth
@ 2:04 AM
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