The government’s decision to demonetise Rs 500 and Rs 1,000 currency notes in order to boost the economy will push India’s cash-dependent healthcare system towards cashless transactions and will bring more transparency to it, said Pawan Gupta, Co-founder of Curofy.
âOur healthcare system, which has been cash dependent for years, will be thrusted into the world of cashless transactions. In a twist of policy, tech-averse pharma sector will be forced to become digitalised and embrace the winds of change,” Gupta told the Elets News Network (ENN).
Speaking about the transparency this new move will bring to the system, the founder of India’s leading doctors networking app said, “This will bring the hoarded up cash from the private sector into circulation and promote transparency. Private clinics and nursing homes which mainly transacted in cash will have to declare their income.â
Pointing out the benefits of cashless transaction in healthcare, he said that “patients won’t have to worry about carrying money with them physically as their treatment will be only a swish of card away”.
“This move will also bring down the cost of medical education since the cash component of admission process will be completely obliterated, thereby improving the quality of future doctors,” he told ENN.
“Also, with their money going online, more people will come in the digital health ecosystem. In long-run, all this will improve the quality of healthcare and make it more affordable. Though there might be an initial hitch in the transition, with the government encouraging online and cashless transactions, healthcare will adapt it over time,â Gupta said.