Egypt-based Sehatech, a trailblazer in the healthtech sector, recently broadcasted its latest successful venture.
The firm confirmed that it has successfully garnered $850,000 in capital. This financial support hails from both A15 and Beltone Venture Capital, the latter being an arm of the renowned Beltone Holding Company.
Diving deep into Sehatech’s offerings, their primary focus rests on the innovative use of technology. Their aim is to modernise and automate the intricate and often convoluted connections between insurance companies and healthcare providers. This includes the critical aspects of claim management and approval processes, also known in industry parlance as third party administration (TPA).
In today’s age, the mechanism for executing a medical insurance policy stands as a tedious and error-prone process. Sehatech, with its advanced rule-based engine, is on a mission to overhaul this system. Their objective is to expedite medical approvals, claims, and the billing journey, all the while curtailing financial drains caused by human errors and deceit.
Sehatech CEO Mohamed Elshabrawy expressed, “We are thrilled to have the support of A15 and Beltone Venture Capital in our mission to transform the healthcare industry in Egypt and the broader region. Digitising the TPA industry will have a significant social impact on how millions of patients consume healthcare services, making healthcare more accessible and affordable for everyone.”
With their digital platform, Sehatech promises enhanced transparency, swift process timings, and precise claim settlements. This innovative approach will undoubtedly uplift the healthcare experience for patients, streamline operations for providers, and optimise financials for insurers.
A15’s Principal Bassem Raafat stated, “We are excited to partner with Sehatech as they bring a much-needed technological advancement to the medical insurance industry. Their innovative approach will not only improve the efficiency of medical insurance policies administration but also enable a better healthcare experience for patients in Egypt and beyond.”
Lastly, Sehatech envisions a transformative role for itself in the TPA industry. With this newly acquired funding, the company is poised to broaden its workforce, speed up product innovations, and enhance its overall client service delivery.
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