Tuesday, Feb 27 2024 | Time 22:34 Hrs(IST)
Business Economy

Escalating healthcare costs, mental health concerns impacting India Inc: survey

Mumbai, Dec 2 (UNI) A survey conducted by Global Insurance Brokers (GLOBAL) has presented interesting insights into impact of surging healthcare expenses on Corporate India in the post-COVID-19 landscape, revealing that an overwhelming 88 per cent of Corporate India is struggling primarily due to escalating hospital bills.
Key findings of the Annual Health and Benefits Survey 2023 underscore a stark reality -- healthcare expenditure have surpassed revenue growth, economic inflation and wage increases, intensifying financial challenges for organisations.
The upswing in hospital bills and related expenses has played a significant role in driving up healthcare costs.
Beyond financial concerns, the survey spotlights growing apprehension about employee mental health, with 46 per cent of respondents emphasising the pressing need for better mental health support in the workplace.
GLOBAL's comprehensive survey included decision-makers from diverse industries and company sizes. It calls for implementation of smart cost-management strategies and innovative infrastructure to address the rising healthcare costs effectively.
It also underscores the need for insurers, brokers, and third-party administrators to adapt to evolving
employee benefits landscape, a press release said here on Saturday.
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