The Association of Health Funders of Zimbabwe (AHFoZ) has established a strategic cooperation with regional insurtech business, Tres Groupe International (TGI), to lower local healthcare costs.
The partnership introduces TGI Carenet, a healthcare Real-Time Claims Processing and Settlement (RTCPS) model to the market. The model considerably streamlines healthcare claims submission, adjudication, remittance, and payment which may result in a real-time adjudication process that requires administrative simplification for claim processing.
In a speech on behalf of the partnership last week, TGI chief executive officer Keith Nkomo said TGI Carenet would be implemented to bring healthcare costs in Zimbabwe down to more manageable levels.
“The collaboration marks a significant digital innovation in the healthcare industry, creating new business potential for the healthcare funders to prolong their existence and respond to today and future healthcare needs of Zimbabweans,” Nkomo said.
“Healthcare costs are set to reduce by at least 30% owing to a corresponding reduction in claim severity and operational expenditure through automation.”
He said TGI Carenet would see the automation of the claims process and instant payment of healthcare claims.
Keep Reading
- AHFOZ Annual Conference roars to life
- Medical aid societies defend service charges
- Health talk: Unnecessary interference frustrating private medical sector
- Opinion: Unnecessary refereeing frustrating the private medical sector
“I am honoured and pleased to confirm and attest to a collaborative agreement with the Association of Health Funders of Zimbabwe which represents about 98% of Medical Aid Societies in Zimbabwe,” Nkomo said.
“This shall see the automation of the claims process and instant payment of healthcare claims.”
According to TGI, its TGI Carent platform introduces an EMV Smart card with a microchip, along with the standard magnetic stripe and Near Field Communication technology (tap technology), and a biometrically enabled point-of-sale (POS) machine. The POS unit recognises a customer's face, fingerprints, and/or irises provides the immediate payment platform.
Through this innovation, AHFoZ and TGI are interested in settling disputes over late payments and healthcare tariffs between healthcare funders and service providers.
AHFoZ chairman Noah Matimba emphasized that this was in line with the NDS1 and vision 2030 because “lowering healthcare costs and decreasing out-of-pocket costs would increase access to healthcare and promote a healthier workforce.”
Nkomo said TGI was investing over US$2 million in infrastructure and digital technology in the healthcare space.
“As such, medical practitioners and point-of-sale (POS) machine. The POS unit, which recognises a customer’s face, fingerprints, and/or irises, provides the immediate payment platform.
Through this innovation, AHFoZ and TGI are interested in settling disputes over late payment and healthcare tariffs between healthcare funders and service providers.
AHFoZ chairperson Noah Matimba emphasised that this was in line with NDS1 and Vision 2030 because “lowering healthcare costs and decreasing out-of-pocket costs would increase access to healthcare and promote a healthier workforce.”
Nkomo said TGI was investing over US$2 million in infrastructure and digital technology in the healthcare space.
“As such, medical practitioners and healthcare centres shall receive the biometric enabled Smart POS machines with a fingerprint reader, iris scanner and facial recognition free of charge, with no monthly or administration fees as we commit to reduce the cost of servicing patients and increase healthcare access,” Nkomo said.
“The Smart POS machine shall be deployed with a service provider portal which digitalises claims management and reconciliations at healthcare centres to increase efficiency and enhance patient experience. We are keen to reduce fraud, waste and abuse in the healthcare sector, accounting for US$600 billion per annum, globally, through secure and foolproof real-time processes.”