INDIA HEALTHCARE SERVICES : Common Empanelment gaining pace; Niva Bupa guides to double hospital empanelments along with addition of new treatments in a few months

Research evidence excerpt

INDIA HEALTHCARE SERVICES : Common Empanelment gaining pace; Niva Bupa guides to double hospital empanelments along with addition of new treatments in a few months

EQUITIES

MEDTECH & SERVICES

INDIA HEALTHCARE SERVICES

FLASH NOTE

Common Empanelment gaining pace; Niva Bupa guides to double hospital

empanelments along with addition of new treatments in a few months

14 MAY 2026 Securities Research Report Production time: 11:22* (London time)

Research Analyst & Publishing Entities

Tausif Shaikh BNP Paribas Securities India Private Limited +91 22 6196 4037 tausif.shaikh@asia.bnpparibas.com

What happened?

Niva Bupa Health Insurance (NIVABUPA IN, NC) highlighted in their 4QFY26 earnings calls that the common insurance

empanelment initiative has now reached 2,500 hospitals, where the MoU has either been signed or is ready to be

signed and guided to double the reach to 5,000 hospitals in the next 4-5 months. Niva Bupa also said that work is at a

very advanced stage in terms of adding guidelines for modern cancer treatments as well as robotic surgeries. This

commentary validates our findings from our recent trip across the Delhi-NCR region that Common empanelment is

gaining traction (See: Pulse from the ground: Common empanelment gaining acceptance; negative readacross for

hospitals).

Current focus remains on mid-sized hospitals outside the top 20 group

Niva Bupa also highlighted that currently, in Phase-1 of the policy, the focus remains on mid-size hospitals outside the

top 20 groups as they are already a part of every insurer's network or TPA network. The mid-segment hospitals remain

the focus to enhance access for claimants from the insured population.

About Common Empanelment - framework similar to GIPSA