Since Mr. Modi has become the prime minister of India, we have always complained about a steep rise in the prices of vegetables, pharmaceutical drugs, jewelry and the real estate sector. But now it seems the tables are turning. At least the latest decision of NPPA to put a price cap on knee implant surgery.
With affordable medical services for poor in mind, PM Modi has finally decided to put an end to the medical harassment. According to the recent data, the average trade margin on knee implant system is as high as 300% (average margin for importers was 76%, while for distributors and hospitals were 135%, totaling it to 313%) which needs to be reduced.
What’s the actual cost of the knee implant surgery?
The bridge between the actual cost of knee replacement surgery and price charged is quite different. While the actual cost of the surgery falls between Rs 45,000-55,000 but the hospital charge up to Rs 1.7 lakhs that are separate from the procedure costs. These figures clearly reveal that India still lags behind in terms of affordable health care facilities. Hence, the government is determined to bring transparency and cost-effectiveness in the health care segment.
“The move is likely to pinch the manufacturer. Though it is a good move by the government but companies may back out and stop selling their high-end products in India,” Gill said, adding that 90% of the total knee implant market is imported.
How will it benefit the common masses?
Vikram Shah, CMD of Shallby Hospital, confirms that 120 crore Indians are suffering from joint pain but only 30 crore Indians are able to take high end treatments, owing to steep cost. But now this move is expected to benefit over three crore patients in India. Moreover, the government plans to take stringent action against the importers and retailers if they charge over and above the MRP.
When will the prices be slashed?
It is expected that the prices will be slashed immediately and it will apply to a new stocks also.
What other measures have been taken by the government to make health care facility affordable?
These steps signify that unlike the previous government, Modi government is not a mute spectator. It is pushing its envelope to un-trap the patients from the exorbitant prices charged by the hospitals. In February the government reduced the prices for cardiac stents to make them more affordable for the patients and now this move will definitely prove a balm for the joints.