Firms, NGOs interlock on feasible cancer treatment plans - By Malathy Iyer TNN
Posted on - 09 Feb 2014
Firms, NGOs interlock on feasible cancer treatment plans
By Malathy Iyer
TNN
Mumbai: The increasing number of cancer cases has sparked off a wave of economic innovation to make treatments feasible.
Governments, non-governmental organisations (NGOs) and financial companies are working out ways to make treatment of the disease affordable or almost free for needy patients.
For instance, the Maharashtra state government’s Rajiv Gandhi Jeevandayee Arogya Yojana, offers free medical, surgical and radiation treatment for patients whose families earn less than Rs 1 lakh per annum.
NGOs such as the Indian Cancer Society (ICS) offer special insurance policies that help fund treatment. Smita Agarwal of ICS said,“Nobody can financially be prepared for cancer treatment. Insurance offers a good option.’’
Funding cancer treatment isn’t easy. The weekly blood tests, surgeries and cycles of chemotherapy are expensive. Moreover, as the treatment stretches for months, costs run up to lakhs of ruppes even in public hospitals.
ICS has two insurance products in a tie-up with New India Assurance and Raheja QBE.“Cancer catches families unawares. People cannot go to work in some cases but need to pay for their treatment upfront. Our products are sodesigned that people can get a lumpsum of money right at the diagnosis stage to plan things.’’ She advises people to only take a nominal medical insurance policy. “But supplement this with a separate cancer policy of Rs 3 to 4 lakh that are issued by NGOs like us,’’ she said.
ICS has also found an alternative method by tying up with HDFC Mutual Funds Ltd three years back.
“We didn’t want our association to be a one-off thing. We wanted to create a sustainable way of helping patients, and therefore, we told our subscribers that the income on their principal investment would be given to ICS as donation,” said HDFC’s Milind Barve. The charity hook worked, and 2,000 Indians invested to raise Rs 12.5 crore for ICS over three years.
In its second three-year instalment, HDFC will match the sum raised through the mutual fund donations. “Our goal with the next mutual fund is to raise Rs 26 crore,” Barve added.
Tata Memorial Hospital director Dr Rajendra Badwe said state governments were taking note of the increasing number of cancer cases and working out special schemes.
He said a northern state’s government had approached his centre with a plan to fund free treatment for every cancer-hit citizen by increasing taxes on tobacco and alcohol. RWITC’s art fundraiser to help patients
As social part of responsibility its corporate programme, the Royal Western India Turf Club will organise a race called ‘The Pink Filly Passages Trophy’ at the Mahalaxmi Racecourse on Sunday. The race will be run in aid of the NGO PASSAGES to spread breast cancer awareness. Titled ‘Pink Filly’, a horse head sculpture was designed and fabricated by Tarana Khubchandani and sculptor Arzan Khambatta. Leading Indian artists then worked on their own rendition of these sculptures to create unique artworks that will be up for sale. Every sale of a horse head will fund and adopt complete treatment expenses of one breast cancer patient at Cama and Albless Hospital. Each horse head is likely to be priced Rs 1 lakh to Rs 3 lakh. Proceeds from the sale of horse sculptures will go towards medical costs for cancer.
