Full Form of TPA : Third Party Administrator

What is the full form of TPA?

No:1. The full form of TPA is Third Party Administrator.
No:2. TPA is the agent of the health insurance corporation.
No:3. It acts as a mediator between the insurance provider & the insured individual.
No:4. Its primary role is to address all cashless and insurance claims linked to hospitalisation and medical expenses.
No:5. It carries an IRDA (Insurance Regulatory Development Authority) licence for the processing of claims.

Advantages of TPA

TPA supports both the insurer and the insured. Here are a few of its major advantages which are given below :
No:1. Greater efficiency or quality connected with the delivery of services
No:2. Higher provision for health insurance
No:3. Streamline Inquiry removes delays
No:4. Low insurance premiums
No:5. Deals with all matters linked to claim settlements
No:6. Provides a 24/7 toll-free number
No:7. Does not accept false claims and tracks potential cheating by private medical centres.

Some Famous TPA Health Insurance

No:1. United Healthcare Parekh TPA Pvt. Ltd.
No:2. Medi Assist India TPA Pvt. Ltd.
No:3. Medicare TPA Services (I) Pvt. Ltd.
No:4. Park Mediclaim TPA Pvt. Ltd.
No:5. Raksha TPA Pvt. Ltd.
No:6. Heritage Health TPA Pvt. Ltd.
No:7. Paramount Health Services & Insurance TPA Pvt. Ltd.
No:8. Good Health TPA Services Ltd.
No:9. Focus Healthservices TPA Pvt. Ltd.
No:10. Vidal Health TPA Pvt. Ltd.

Revenue model of Third Party Administrators

No:1. There is a view that the organisation and revenue generation model of TPAs will determine the extent of their success.
No:2. TPA’s major revenue comes in the form of fees or commission on premium, which is standardised by the IRDA.
No:3. The other sources of revenue of TPAs include the following:
a). Benefit management
b). Provider network management
c). Data management
d). Medical management
e). Claim administration

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