INDIA – Digital health platform MFine has announced the launch of MFine Wallet to cover out-of-pocket OPD expenses and simplify OPD reimbursements for corporate employees.

More than 500 companies have partnered with MFine to offer a wide range of healthcare services and the MFine Wallet will now make it easier for their employees to avail cashless OPD benefit.

Post Covid-19, many organizations have started rolling out corporate wellness programs that go beyond hospitalization benefits and in-patient expenses.

Most of them now include telemedicine as part of their employee health programmes and the focus has shifted to outpatient expenses such as regular medical check-ups, pharmacy benefits, among others to help employees manage their health and productivity better.

The MFine’s Corporate Wallet makes it easier for the employee to manage their OPD expenses and reduce out-of-pocket healthcare expenses.

The Wallet is pre-loaded by the corporates in line with the OPD cover and can be used on the go for any online or offline transactions.

With MFine’s Wallet innovation, corporate employees are able to use their preloaded Wallet balance and pay at any healthcare establishment via the regular Unified Payments Interface (UPI) QR code of the provider.

MFine already partners with thousands of healthcare establishments such as diagnostic centres, pharmacy stores, clinics and hospitals across the country where this pay-by-wallet feature is accepted.

Corporate wellness including OPD expenses is a Rs. 23,000 crore (approximately US$3 billion) market, growing 25% CAGR.

MFine wants to take a substantial share of this expansive market with its broad services and tools platform that they have built over the years.

Several organizations have already signed up with MFine Wallet as part of the corporate wellness programs for their employees, the statement said.

The company claims to have witnessed a 4x growth in the number of corporates and users using MFine services over the last one year.

Currently, MFine is used by over 500,000 corporate employees and their families for preventive health checks, specialist doctor consultations and advanced screenings, the firm added.

Meddo Health expands to Tier 2 and 3 cities

Meanwhile, outpatient healthcare platform, Meddo Health, has announced its pan-India expansion plans to tap tier 2 and 3 markets with the launch of full-service healthcare centers.

The company will begin its operations in Chandigarh and Jaipur, with plans to further expand its presence in Pune, Ludhiana, Jalandhar, Lucknow, and Ahmedabad by 2023, a statement said.

With their services already live in Jaipur and Chandigarh, Meddo now seeks to expand its footprint to 1000+ centers over the next year. It currently has over 4000 doctors and 350 Full-Service Health centers.

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