Vitraya Technologies Private Limited is building out a tech platform to enable automated, real-time payouts and claims settlement between hospitals / healthcare providers and insurers who offer health insurance products to consumers and businesses.
The technology platform utilizes smart contracts and blockchain architecture to enable this automation. The company was incorporated in Mohali, Punjab on 18th February, 2019.
Vitraya Technologies aims to revolutionize Health Insurance claims settlement by addressing pain points of Hospital administration and Insurance Companies through a holistic solution that aims to bring the below benefits:
A claims settlement guarantee: Hospitals and providers need not worry about Accounts Receivable risk.
Automated (AI-assisted) documentation and claims filing: Doctor time unshackled to focus on patient. Insurer gets adequate documentation. Accurate solution provided at the time of diagnosis eliminates errors.
Peer reviews to verify disease and treatment:Second opinions for patients. Verification of costs and course of treatment for the insurer.
Settle claims in real time in microseconds:Intelligent system enables claims settlement real-time. Reduces claims administration costs.
Reduction of Frauds: A solution that would automate fraud checks and improve the Incurred Claim Ratio for the Insurers.
Market-based price settlements for doctor time, infrastructure, & consumables:Automated negotiation platform creates market-based pricing for Key components of healthcare costs.