Hyderabad-based CARE Hospitals, one of India’s leading multi-specialty hospital networks, has partnered with Fibe, a leading consumer lending platform, to provide zero-cost EMI for all elective and non-elective treatments up to ₹10 lacs. The EMI facility is currently available at CARE Hospitals’ facilities in Hyderabad and Bhubaneswar and will soon be expanded to all of its facilities across India.
CARE Hospitals has been a prominent provider of quality medical care for years and has established a strong presence in Hyderabad and non-metro cities, offering affordable and quality healthcare to a large population base. The partnership between CARE Hospitals and Fibe addresses a significant gap, with over 80% of healthcare costs in India being paid out-of-pocket as per a study by the National Sample Survey Office (NSSO). This collaboration will make it easier for patients and their caregivers to bear the financial burden of medical expenses.
Commenting on the announcement, Mr. Vikas Rastogi, Group CFO, CARE Hospitals said, “Our partnership with Fibe will help patients and their families overcome the financial burden of medical expenses. CARE Hospitals has always been committed to delivering high-quality medical care that is accessible to everyone, while Fibe is taking giant strides towards providing optimal financial services during times of need. Together, we will bridge the affordability gap and provide the best possible healthcare solutions to patients and caregivers.”
Thrilled about the partnership with CARE Hospitals, Mr. Akshay Mehrotra, Co-Founder and CEO, Fibe said, “This product will enable affordable best-in-class Healthcare services to individuals who may not have access to reliable financial solutions to tackle medical emergencies. Patients would be able to get Instant Approvals and complete their application in less than a minute. This would help patients get an early start of the treatment without worrying about finances.”
The facility is available to both cash and insurance patients for urgent medical expenses, with no restrictions on the procedures for which the facility can be used. To avail of this facility, the patient or caregiver must be a resident of India, between 21 and 55 years old, and have a minimum salary of Rs. 15,000. The entire process takes just minutes and only requires PAN and KYC details as well as bank account statements.