With a number of patients spending over ₹2 lakh on joint replacement surgery, Queen’s NRI Hospital has tied up with the Arogya Finance to offer interest-free loan facility to patients undergoing knee and hip replacement procedures.
Addressing a press meet here on Thursday, CEO of the hospital T.Chandra Mouleswara Rao said it was the first time loan facility for joint replacement surgeries was launched in the State.
“Since knee and hip replacement surgeries have not been covered under the Arogyasri scheme, a number of patients prefer to do away with expensive procedure. The scheme aims at easing the financial burden on patients, especially for those belonging to lower income groups as they can get the replacement done with interest-free monthly instalments,” he said.
Consultant orthopaedic surgeon A. Pratap Reddy said a large section of patients now require joint replacements. Dr. Reddy cited obesity and constant wear and tear of the joints combined with other related complications as some of the factors leading to increased number of knee replacements these days.
Explaining the details of the scheme, representatives of the Mumbai-based Arogya Finance said the patients can pay interest-free EMIs up to 12 months by making a down payment of 30% of the loan amount. “The remaining 70% will be paid by patient in equal instalments sans interest. For those who opt for extended EMIs up to five years, nominal interest rate will be charged. The facility comes in handy for those who cannot afford expensive procedures as the finance company pays 70% of the cost to hospital and collects EMIs from the patient for an equal amount,” they said.
Associate consultants of the hospital K. Vasanth Babu and R. Rajesh Kumar Reddy were present.
