Why Hospital want to empaneled for cashless facility?

Hospitals often want to be empanelled for cashless facility in health insurance because it offers several benefits to them. Some of these benefits are:

  1. Increased patient footfall:

    Cashless facility can attract more insured persons to the hospital, resulting in increased patient footfall. This can help hospitals generate more revenue and improve their financial performance.

  2. Streamlined payment process:

    Cashless facility offers a streamlined payment process, reducing the administrative work for hospitals. Hospitals do not have to worry about collecting payments from insured persons or following up on claims for reimbursement.

  3. Improved cash flow:

    Cashless facility ensures faster settlement of claims, reducing the time taken for reimbursement of medical expenses. This can improve the cash flow of hospitals and reduce the financial burden of upfront payments for insured persons.

  4. Competitive advantage:

    Hospitals that are empanelled for cashless facility can gain a competitive advantage over other hospitals that do not offer cashless facility. This can attract more patients and improve the reputation of the hospital.

  5. Improved relationships with insurance companies:

    Empanelment can help build better relationships between hospitals and health insurance companies. This can lead to better rates for medical procedures, improved negotiation power, and more business opportunities.

Overall, being empanelled for cashless facility in health insurance offers several benefits to hospitals, including increased patient footfall, streamlined payment process, improved cash flow, competitive advantage, and improved relationships with insurance companies.