Articles by Ramesh Bhat

The impact of the macroeconomic shock of demonetisation in 2016 on the dividend payout policy of Indian companies is examined. The analyses of 2,157 Indian companies’ data for the period from 2013 to 2018 find that both aggregate dividend payout ratio and the number of companies paying dividends dropped in post-demonetisation years. The results of the dynamic system generalised method of moments show that the long-term target dividend payout ratio declined by 9.31% post demonetisation. The study suggests that major macroeconomic shocks affect the dividend payout decisions of companies.

The basic objective of healthcare systems is to meet a country's health needs in the most equitable and efficient manner, while remaining financially sustainable. Each country, given the historical evolution of its healthcare system, adopts different strategies to achieve these goals. The financing of healthcare through public and/or private channels is one important component of this strategy, as it has a significant bearing on the way healthcare is delivered and also has implications for the health policy goals of equity, efficiency and sustainability. Understanding what determines these expenditures is important from the viewpoint of health policy. This paper examines the relationship between income and public and private healthcare expenditures.

The development of anti-retroviral therapy has given new hope for people living with the acquired immuno deficiency syndrome. The government of India has initiated anti-retroviral treatment as a part of the national public health programme in six high-prevalence states. This paper aims to examine the financial implications of initiating anti-retroviral therapy programme in the country. It highlights the importance of infrastructure and logistic requirements for developing a comprehensive treatment programme for the affected population. Finally, the paper estimates the broad financial implications of the anti-retroviral therapy under different treatment scenarios. The estimated financial requirements for treatment vary from Rs 92 crore per annum if 4,00,000 HIV/AIDS cases are covered to Rs 1,008 crore per annum if all four million patients are screened. Against this, when the programme was started the National Aids Control Organisation had allocated a total of Rs 113 crore for the treatment part of this intervention. Even under the most conservative estimate, achieving the treatment target in India with this budget will be a challenging task.

The Insurance Regulatory and Development Authority in India has paved the way for insurance intermediaries such as third party administrators (TPAs) to play a pivotal role in setting up managed healthcare systems. TPAs have been set up to ensure better services to policyholders and to mitigate some of the negative consequences of private health insurance. However, given the demand and supply-side complexities of private health insurance and healthcare markets, insurance intermediaries face immense challenges. IRDA has defined the role of TPAs as one of managing claims and reimbursement. Their role in controlling costs of healthcare and ensuring appropriate quality of care is less well-defined.