Health Claims Exchange to be operational by October

Health Claims Exchange (HCX), which is expected to be operational by October-end, will transform the way health insurance claims are processed as the digital platform will reduce cost and waiting time for processing a claim, RS Sharma, CEO, National Health Authority, said on Thursday.

“Health Claims Exchange has been constructed and that has been under the sandbox (mechanism) of the National Health Authority. It will be operational from October-end.

It will basically transform the way health insurance claims are processed. It will reduce the cost and also the time,” Sharma told FE on the sidelines of 32th edition of “Technology Sabha”, an Express Group Initiative.

Sharma, who gave a keynote address during the first day of the three-day-long event, said currently insurance companies and software vendors are in the process of making products related to the Health Claims Exchange.

National Health Authority has been collaborating with insurance regulator Insurance Regulatory and Development Authority of India (Irdai) for developing the Health Claims Exchange. “We have a joint working group with them. We are working on to basically figuring it out how to expand the platform…It will expand the health insurance market of the country,” Sharma said.

National Health Authority will start using the exchange for processing claims under Pradhan Mantri Jan Arogya Yojana, and thereafter the exchange will be open for insurance players, hospitals and software vendors, among others.

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“There are two sides to Health Claims Exchange. One is the provider side, which are basically hospitals who provide services. Another is the payer side, which are insurance companies and state government, who do the payments,” Sharma explained.

On the first day of the “Technology Sabha”, Babul Supriyo, minister of information technology, electronics & tourism, goverment of West Bengal, BP Gopalika, additional chief secretary, government of West Bengal, Debpriya Nandan, senior director & head, public sector business development, Oracle India and Srikant RP, editor, Express Computer, were speakers, among others.