CARE Hospitals partners with Fibe to revolutionize Affordable Healthcare for Patients
Hyderabad, 5th May 2023: 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.
About CARE Hospitals:
CARE Hospitals Group is a multi-specialty healthcare provider operating 17 healthcare facilities serving 8 cities across 6 states in India. The network has its presence in Hyderabad, Raipur, Bhubaneswar, Pune, Vishakhapatnam, Nagpur, Indore & Aurangabad. A regional leader in South and Central India and counted among the top 5 pan-Indian hospital chains, CARE Hospitals delivers comprehensive care in over 30 clinical specialties, with over 2700 beds. Presently CARE Hospitals operates under the aegis of the Evercare Group, an impact-driven healthcare network extending its services across South Asia and Africa. For more information:www.carehospitals.com
About Fibe:
Fibe (previously EarlySalary) is one of India’s leading consumer lending apps focused on young, aspirational, and tech-savvy Indian consumers. It is building a financial ecosystem that enables the mid-income group to fulfill their aspirations. It is an industry leader in the salary advance segment with the fastest processing time. It has launched a host of financial products like Cash Loans, long-term Personal Loans, and Buy Now Pay Later plans. It offers a 100% digital loan application process that takes just seconds to complete. Fibe has grown multifold over the years and emerged as a market leader in providing financial assistance to young middle-income groups in India. Fibe recently has been assigned a BBB rating by CARE Ratings and has been certified with ISO/IEC 27001 for its Information Security Management System (ISMS). The company has already disbursed nearly 4 million loans worth Rs. 10,000 crores.
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.
About CARE Hospitals:
CARE Hospitals Group is a multi-specialty healthcare provider operating 17 healthcare facilities serving 8 cities across 6 states in India. The network has its presence in Hyderabad, Raipur, Bhubaneswar, Pune, Vishakhapatnam, Nagpur, Indore & Aurangabad. A regional leader in South and Central India and counted among the top 5 pan-Indian hospital chains, CARE Hospitals delivers comprehensive care in over 30 clinical specialties, with over 2700 beds. Presently CARE Hospitals operates under the aegis of the Evercare Group, an impact-driven healthcare network extending its services across South Asia and Africa. For more information:www.carehospitals.com
About Fibe:
Fibe (previously EarlySalary) is one of India’s leading consumer lending apps focused on young, aspirational, and tech-savvy Indian consumers. It is building a financial ecosystem that enables the mid-income group to fulfill their aspirations. It is an industry leader in the salary advance segment with the fastest processing time. It has launched a host of financial products like Cash Loans, long-term Personal Loans, and Buy Now Pay Later plans. It offers a 100% digital loan application process that takes just seconds to complete. Fibe has grown multifold over the years and emerged as a market leader in providing financial assistance to young middle-income groups in India. Fibe recently has been assigned a BBB rating by CARE Ratings and has been certified with ISO/IEC 27001 for its Information Security Management System (ISMS). The company has already disbursed nearly 4 million loans worth Rs. 10,000 crores.