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.
Vitraya Technologies was born with the vision to transform and propel the Healthcare industry by bringing smart solutions driven by latest technological innovation. Healthcare industry and in particular the Health insurance claim settlement processes are manual and result in delays, operational overheads, fraud risk and therefore poor patient experience. Currently technological solutions do not adequately solve these issues. The gap between what technology can do and what is currently implemented is wide while the industry is set for growth in terms of volumes and sophistication. Vitraya aims to connect all industry participants, namely, hospitals, insurers, clinics etc. on a single platform that would facilitate faster claim settlements and payouts, easier fraud detection and reduction of operational costs and working capital costs.
Our main purpose is to eliminate delays, confusion, inconsistencies and errors in the current Health Claims process and thus help the various stakeholders.
Health Insurance Claims settlement is a highly manually operated process resulting in huge cost overload ridden with errors for both the Insurance companies as well as Healthcare providers.
The Smart Contract platform integrates the Hospitals and the Insurance providers on a single platform.