Healthcare payers such as Insurance Companies and TPAs are expected to bring substantial qualitative changes in the service delivery. They face a rapidly changing market and intense competition, driven by consumers, who are demanding more flexible products, increased transparency and better services. To survive and succeed, payers need to adopt new business models and develop competencies in all the areas from Product Development to Underwriting and complete life cycle of Claims Management,in light of emerging new regulatory requirements. Majority of payers are not equipped, as it involves huge cost and is quite tedious. Hence, they need the support of expert partners who have experience and capabilities to do so. This is where the gravity of organizations like Infinite Medtech Solutions (IMTS) emerges. IMTS’ customized and cost effective outsource solutions for Health Insurance management and support services to Insurance Companies and TPAs helps reduce their TATs, optimizes utilization of available resources, and increased operational efficiency, ultimately boosting the financial bottom line.

This Hyderabad-based company caters to payers & providers with focus on health insurance claim

processes and software development. IMTS’ proprietary software ICE provides the entire gamut of services starting from pre-approvals at hospitals, claims processing, settlement, fund management and reconciliation with providers to bank reconciliation statement for the Insurers. ICE’s capability includes Auto Adjudication of claims based on built-in ICD and CPT codes, seamless integration with client’s website for online Access to members, providers and insurer/ reinsurer.

IMTS can process claims in ICE and produce output files in the required formats that can be directly ported into client’s existing software

Standing Out in the Competition

Today, most of the BFSI service providers fail to offer software support team. This venture maintains an in-house dedicated technology team who develop applications and tools as per client requirements. Being an early entrant in this field gave IMTS a clear advantage. Working on the strategy to offer tailor made solutions helped create IMTS a niche for itself.

IMTS can process claims in ICE and produce output files in the required formats that can be directly ported into client’s existing software. However,if client prefers to use their existing application,IMTS team is quick to learn, adapt and further capable of aligning itself with its clients ’processes & protocols, who

operate under different regulatory frame works. “Most of the regulatory requirements are fulfilled by the local partners and we provide the required support as our team is seasoned in the intricate world of insurance regulations in MENA region,” says Kushal Shah, Director, IMTS. IMTS not only implements rapid responsive systems to efficiently accomplish claims and medical management services for payer clients, but also manages Revenue Cycle Management services under separate vertical for the providers.

En-route to Future

To enhance the brand loyalty, company adjusts its working days as per the clients’ weekdays and weekends. IMTS provides 24x7x365 services and additional back up for special long holidays in MENA region, especially during holy month of Ramadan and Eid. With a revenue growth of 20 percent(last two years), company aims to initiate expansion plans by exploring and offering its services to entire Gulf and African countries by end of next fiscal. Under its aggressive business plans, it aims to double its revenue in next two years, and plans to establish a representative office in GCC and Europe.

Following UAE standards, countries like Bahrain, Kuwait, Oman & Qatar, are likely to get stricter regulations, hence it creates a huge potential and opportunity to penetrate further for IMTS. As per Kushal Shah, some of the investors in GCC have shown serious interest in IMTS via equity route; however IMTS board has taken a conscious decision to push for organic growth, at least for next two years before disinvesting, which could be considered in coming years.