Healthtech startup based in Egypt Sehatech has proudly announced securing a grand investment of $850,000, funded by A15 and Beltone Venture Capital, a subsidiary of Beltone Holding Company. Sehatech aims to revolutionize the healthcare industry by leveraging cutting-edge proprietary technology to digitize and automate the relationship between insurers and healthcare service providers.
Traditionally, managing medical insurance policies has been a labor-intensive, time-consuming ordeal, susceptible to errors and fraud. Sehatech is set to change that narrative by streamlining processes related to medical approvals, claims, and billing cycles. Employing an intricate rule-based engine, Sehatech seeks to minimize financial losses resulting from manual errors and combat fraud, waste, and abuse. By eliminating manual processes, it aspires to create a seamless, hassle-free experience for patients and healthcare service providers alike.
Founder & CEO of Sehatech, Mohamed Elshabrawy, expressed his enthusiasm for this crucial step forward: “Digitizing 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.”
Sehatech’s digital platform promises increased transparency, quicker processing times, and more precise claim settlements. This breakthrough will ultimately lead to improved healthcare outcomes for patients, streamlined administrative operations, prompt payment settlements for healthcare providers, and reduced loss ratios for insurers.
Bassem Raafat, Principal at A15, voiced his excitement: “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.”
Sehatech, poised to revolutionize the third party administration (TPA) industry, will employ this funding to expand its team, expedite product development, and enhance customer service, further propelling its mission to transform the healthcare industry.