Revised Prices of Stents and Knee Implants makes India an Enticing Prospect for Millions of International Patients
The drug pricing watchdog, NPPA has wielded its powers of price regulation on knee implants by revising the ceiling prices of available types of knee replacement implants with immediate effect.
The prices of total knee replacement systems along with the associated components such as implants have been slashed by 69 %. The costs of distinct types of knee implants are as follows:
Cobalt chromium- Rs54,720 (65% lower than the original MRP)
Titanium and oxidised zirchonium- Rs 76,600 (69% lower than the original MRP )
High flexibility- Rs 56490 (69% lower than the original MRP )
Revision- Rs 1, 14,000 (59% lower than the original MRP )
An important point to note: These prices are exclusive of goods and services tax, but consider suitable trade margins for manufacturers or importers, distributors and hospitals.
Why is this done?
1.5 to 2 crore people in India alone suffer from knee-related problems. Due to the private hospitals' unethical indulgence in profiteering and unmanageable out of pocket expenses incurred by patients, only 1 lakh people can meet the exorbitant rates of the knee procedures such as Arthroplasty interventions. This means, more than 90% of the remaining population is pigeonholed as immobilized citizens, which is highly detrimental to personal and country's health both.
The impact:
According to Ananth Kumar, Minister of Chemicals & Fertilizers, after the price cut, 1.5 lakh cardiac patients 1-1.5 lakh more cardiac patients can seek stent procedure comfortably. Under the new price regime, Government can protect an enormous amount of money 5500-6000 crore.
Punitive action:
Keeping the people's interest and the nation's health security into consideration, any hospital overcharging patients, will attract disciplinary actions including recovering of excess profits with 18% of interest and cancelling of licensure.
Earlier, India's drug pricing regulator, ie. NPPA axed the maximum price of life-saving heart stents implants by 85%; the price of bare metal ones are capped at Rs 7,260 and the cost of drug-eluting variety are capped at Rs 27,890.
By curtailing the costs of stents and knee implants, people can now afford stent and arthroplasty procedures easily which in turn act as a catalyst in drawing people from different countries to India- giving a formidable boost to medical tourism.
Ergo, through such price-reducing measures, the interest of the individual and the nation both can stay protected.
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