Klaim is a fintech platform that aims to help healthcare providers who are losing out on cash everyday due to delayed and rejected payments from insurance companies. Klaim intends to minimise revenue loss and predict cash flows by streamlining the painful and outdated medical billing processes that healthcare providers have to go through to get paid.
How does Klaim work?
Klaim utilises the latest technology and astute claim automation to allow healthcare providers to manage and submit their claims on time with minimum errors, ensuring insurance companies don’t have any reasons to reject them. By utilising the medical data to carry out risk assessments and supplying healthcare providers with working capital facilities, they are not required to wait for payment from the insurance providers anymore.
We’re transforming and simplifying healthcare billing and processing by combining a powerful AI driven claim management SaaS platform and financing platform all in one.
Klaim is the solution that allows healthcare providers to offer the highest possible level of treatment to all patients. By resolving problems related to cash flow, an issue that hospitals, clinics, and pharmacies are suffering from, we allow providers to put their financial concerns aside and concentrate on what matters most – patient wellbeing.
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How did you come up with the idea for the company?
The company was formed over a casual meeting among three friends who shared a personal interest in the medical sector. After learning that healthcare providers suffer from insurance claims due to the complicated claim filing process, rejections and payment delays, a revolutionary concept was born.
We were shocked to learn that healthcare providers may have to wait up to six months after treating patients to receive payments. Our mission is to increase the quality of medical care you receive by assisting healthcare providers in managing their claims and getting paid faster.
What have you learned being a part of the Techstars Hub71 Accelerator program?
The Techstars experience is a real eye-opener and the programme really tested, educated and supported our business. We learned the importance of having a comprehensive understanding of the business before scaling up, improving funding, venture participation and community reporting. Working with Techstars has also resulted in securing 50 new healthcare providers, six paying customers and an ARR of $25,000.
What can we hope to see from Klaim?
Klaim aims to be a market leader by assisting healthcare providers to bring down claim rejections by 50% and waiting periods by almost 75%. Our expansion plan consists of Series A (GCC expansion) along with Series B (International Expansion).
Our innovative concept aims to change the market by establishing power parity between insurance carriers and healthcare service providers.
Health is a priority for everyone. Laws have been enacted to shield taxpayers and the wealth of millions of people. Klaim aims to simplify the complex systems of claim management and bring an equilibrium to the industry.