Shrimad Rajchandra Hospital is one of the empanelled hospitals authorised to treat patients under the Rashtriya Swasthya Bima Yojana (RSBY) scheme. The RSBY scheme, launched by the Ministry of Labour and Employment (Government of India), provides health insurance coverage for underprivileged families living below the poverty line (BPL). The premium for the RSBY scheme is funded jointly by the central and state governments and the scheme is administered and monitored by the state government. The objective of RSBY is to provide protection to BPL households from financial liabilities arising out of hospitalisation.

Beneficiaries under RSBY are entitled to cashless hospitalisation coverage of up to Rs. 30,000/- per family per year for most of the diseases that require hospitalization. The coverage extends up to five members of a family, including the head of the household, the spouse and up to three dependents. Under this scheme, patients hospitalized receive treatment and medicines completely free of charge. For underprivileged people, this represents a crucially-important facility, as it helps in preventing a family from falling into a perennial debt trap.