Health Insurance in India is emerging as a rapidly growing market, yet, it is still perceived as a commodity rather than an asset. Mandatory Health Insurance has increased the penetration to approximately 55% of the population. However, a large market is still untapped. And that’s when a young and vibrant organization comes into the picture that has set benchmarks within the Health Insurance Industry in India, across a landscape of varied products with a brilliant team of 5000 members working in sync with customers & clients, MDIndia.It has created a niche in the vertical of services provided to the end customers, while encompassing the “Who’s Who” to the “Poorest of the Poor.”
Fulfilling the Market Needs with Exemplary Services
With 185 satellite offices & 10 Project Offices, spread across India, MDIndia is headquartered in Maharashtra and has a capability of scaling up anywhere within a matter of 30 days for a turnkey project. With the highest number of Medical Professionals on its payroll in India, MDIndia is capable of catering to all the verticals of Health Insurance. Even, Medical Tourism from the Middle East isn’t left out from MDIndia’s reach.
MDIndia has partnered with multifaceted health care institutions, aimed to cater for Primary, Secondary & Tertiary healthcare needs. This partnership includes impartial Diagnostic centers & Dialysis centers as well, which are Private &Publicly owned. The array of services that MDIndia caters to include Product Development, Marketing & Sales, Operations, Member Marketing, Provider Marketing, Care Marketing, and Wellness Marketing. MDIndia serves all products with premiums ranging from $5 per annum to $1000 per annum per life to the customers with teams dedicated to benefits and customized to each product line.
A Visionary Leader, on the Mission to Transform Thoughts into Reality
Praveen Yadav, Chief Administrative Officer has been associated with MDIndia since its inception in 2000, making him one of the first employees of the company. Since then, he has led MDIndia grow from a team of 40 members to 4000+ today, servicing over 9 crore members under health insurance.
Praveen has been instrumental in creating a lean and mean team for seamless implementation of services for the Healthcare Insurance Products across India. Under his guidance, the company has been awarded by many accolades, the most prestigious being the Asia Insurance Awards 2014& 2016, as the “Best Service Provider of the Year.”
He is a Marketing MBA holder with aBachelors degree in Physics from the Pune University. Also, he has published many articles in Insurance Journals & is a faculty member at the National Insurance Academy & the Symbiosis College for MBA in Health Insurance, Pune.
Overcoming Challenges with Braveness
The biggest challenge Health Insurance in India faces today, is the non-standardization of costing, treatments & protocols. And, MDIndia’s 478 Doctors, Graduates and Super Specialists adjudicate claims and create Standard Treatment Protocols for the industry to overcome it. Their protocols have been accepted by many insurers as the Best Practices across the country.
MDIndia has also created databases for frequent claims in order to bring about cost optimization and it has been accepted as an industry practice by the PSUs. With the Medical Expertise at hand, MDIndia has also been successfully giving 3rd level opinions on High Ticket item claims for Overseas Accidental Claims & Life Insurance Claims.
Knowing their Customer Better
MDIndia has created a calling for itself by being a knowledge base for all stakeholders which help their customers know their products better. With more medical expertise at hand, analytics at MDIndia have been more intelligent; helping create better products & designs.
Many senior executives at MDIndia are also actively involved in training through talks, lectures & on-site mentoring to younger & an older generation of the health insurance officials; thus making service & products a work of reprocessing through “Know Your Customer Better”. MDIndia’s website & Mobile App, the HAWK, have made it easier for the customers to access information and have assisted their customers in the management of their claims.
The Eminent Future Waiting Ahead
Apart from creating infrastructure & expertise for a healthier society, the systems, processes, risk management, sustainability, regulatory controls are huge challenges while thinking about the implementation of the UPHS, according to Praveen. However, MDIndia look at this as an opportunity to have an intellectual growth, along with an increase in sheer size of the business. As the business will grow, the team strength in numbers will also increase, especially with diverse & younger talent being infused into the Health Insurance Market. Like Steven R. Covey says, “Strength lies in differences, not in similarities,” Praveen believes that the DNA of the team, both new & old would be in accepting each other and trying new ideas, to get the best of each other.
TEAM: Doing what it takes to make an Organization Great
Even if MDIndia’s expertise has been the reason behind their success, the potential of their team has been the best part of their business. Their team members have put efforts & dedication in creating a robust and turnkey Claims Management Software, which can now handle huge transactions, concurrently.
MDIndia’s software is being utilized in ten states across India and it aims to create a paperless and standardized environment for health claims in future projects. All of which is the result of their team’s commitment and endeavors. Praveen attributes their success to the team who has helped MDIndia create a success tale across all the verticals of Health Insurance Industry. The team is already doing what it takes to make an organization great, and MDIndia is empowering them further to create a disruptive organization.