SMART CARDS IN HEALTHCARE MARKET ANALYSIS

Market Challenges And Opportunities

Various government initiatives in the implementation of IoT technology via smart cards in the healthcare system is expected to fuel growth of the market

The Chhattisgarh government aims to improve the availability, affordability, and accessibility of healthcare with the help of the smart cards. For instance, in 2017, it announced to provide new health smart cards, which are expected to help low income group for cashless treatment at the registered hospitals. Smart cards are issued to 55.78 lakh families and aiming to strive about 5.55 lakh people of low income group through the camps across the state. Smart cards are expected to provide health insurance benefits of around US$ 774.04 (Rs. 50 K) per family annually.

Moreover, in 2017, Indian government announced to provide new smart cards with an annual budget of over UD$ 24 billion (Rs. 2400 crore) to veterans under Ex-Servicemen Contributory Health Scheme (ECHS). The government is providing value added services to veterans and their family members with new security features to avoid misuse of smart cards such as fraud claims and fake bills. Thus, the smart card expires as soon as the person ages to 21. This scheme is entitled in a number of private hospitals across the India, which in turn, is expected to fuel the market growth over the forecast period.