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Apollo hospitals plans foray into insurance as TPA
KVVV Charya
Hyderabad, Feb 12: Apollo Hospitals Enterprises Ltd (Ahel), the single largest healthcare service provider in South Asia, has dropped the idea of taking independent insurance licence, instead it plans to enter the sector as third party administrator (TPA). "Our strength is in providing quality healthcare and we have decided to act as a third party administrator attached to an insurance firm", Ahel Chairman Dr Prathap C. Reddy told The Financial Express. according to Dr Reddy, the company has already received proposals from four prospective players including two international firms.However, he refused to divulge the names of the contenders. The company is yet to decide on the alliance, "We will take a final decision to which firm we will be associating, in about 30 days time", he added. The hospital group from Chennai is contemplating to enter insurance sector in a big way, and even explored the possibilities of having to tie-up with multi-national players. As a prelude to its insurance entry, the hospital has also developed a unique insurance plan called "family health plan" (FHP) to cater to the corporate houses. Under the scheme, so far the hospitals group has established a net working of 980 hospitals across the country. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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