Cairo – Mubasher: Sehatech, a leading health tech startup in Egypt, has raised $850,000 in a funding round from A15 and Beltone Venture Capital (VC) of Beltone Financial Holding, according to a press release.
The startup will use the investment to leverage proprietary technology in order to digitise and automate the relationship between insurers and healthcare service providers. This includes claim and approval management processes, known as third-party administration (TPA) in the healthcare industry.
Sehatech aims to facilitate medical approvals, claims processing, and the billing cycle. It also seeks to minimise money lost by insurers due to manual errors as well as fraud, waste, and abuse.
Mohamed Elshabrawy, Founder and CEO of Sehatech, commented: "Digitising the TPA industry will have a significant social impact on how millions of patients consume healthcare services, making healthcare more accessible and affordable for everyone."
Bassem Raafat, Principal at A15, indicated: "We are excited to partner with Sehatech as they bring a much-needed technological advancement to the medical insurance industry.”
"Their innovative approach will not only improve the efficiency of medical insurance policies administration but also enable a better healthcare experience for patients in Egypt and beyond,” Raafat added.
