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KLAIM, a healthcare technology platform dedicated to making medical claim management simple and hassle-free, has just launched its new medical financing solution for the UAE market. Designed specifically for healthcare providers, this is the first ever solution of its kind in the entire MENA region.
Rejections and delayed payments from insurance companies have always been a grave concern for healthcare providers in the UAE. Payments worth millions of dirhams remain held up and it takes up to six months to be cleared. Naturally, these delays lead to serious disruption in cash flow for healthcare providers. This is where the new financing solution from KLAIM comes in.
KLAIM healthcare receivables purchase is a financial plan that solves cash flow hospitals, clinics, pharmacies and laboratories problems resulting from outstanding insurance receivables. Thanks to advanced Healthcare analytics, the solution introduced by KLAIM allows healthcare providers to receive upfront payments for their claims within 48 hours, without waiting for their insurance companies to pay them. The company has already signed an agreement with Doctors Clinic and Diagnostic Center (DCDC) in Healthcare City to solve their medical claim payment issues and in several advanced discussions since the service was launched at the beginning of July.
“We identified that delay in the payments was a big problem when it comes to billing and payments. Traditionally banks have shied away from financing smaller institutions. We came up with this innovative solution that combines technology and finance for healthcare, to help the provider, especially the smaller ones, to keep the lights on and operate to offer the best service,” said Karim Dakki, Founder and CEO of KLAIM.
KLAIM’s new client Doctor Clinic and Diagnostic Center (DCDC) is a noted healthcare provider delivering world class patient care and diagnostic services… Like many other healthcare providers in the region, DCDC was in a tight spot because of payment delays by insurance companies. It affected their performance as lots of time was lost following up on payments. A robust solution to this problem was essential for them to focus entirely on providing quality healthcare services.
“Solving this issue of delay in insurance payments will help us concentrate on our medical service; improve our service quality and daily performance of the customer care. At the same time, our staff will be paid on time and we will be able to concentrate more on our main business, which is medical service,” said Dr. Ahmad, the owner of the clinic DCDC.
“There is a big demand for this service in the medical field and it will help many clinics to succeed, survive, and improve at the same time. I'm sure that this will also have a significant positive impact on the entire medical service sector in Dubai,” Dr. Ahmad added.
© Press Release 2021
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