KLAIM launches medical financing solution for UAE healthcare providers
Mita Srinivasan
10x Industry

KLAIM launches medical financing solution for UAE healthcare providers

New service processes claims in seven days, easing cash flow for UAE healthcare providers including hospitals, clinics, pharmacies and laboratories

KLAIM, a healthcare technology platform, has just launched its new medical financing solution for the UAE healthcare providers. Designed specifically for healthcare providers like hospitals, clinics, pharmacies and laboratories, the company claims this is the first-of-its-kind solution of its kind in the MENA region.

KLAIM healthcare receivables purchase is a financial plan that solves cash flow problems resulting from outstanding insurance receivables. With access to advanced healthcare analytics, the solution allows healthcare providers to receive upfront payments for some of their claims within 48 hours, without waiting for their insurance companies to pay them.

Karim Dakki, Founder and CEO of KLAIM, said they had identified the problem and created this new financing solution to give these healthcare providers access to the cash that will allow healthcare providers to hire top professionals, run operations smoothly, buy better equipment and at the end of the day provide better health care quality.

One of the key focus areas for KLAIM are the smaller healthcare clinics so that they can operate easily and offer the best service.

According to Vlad Chernyaev, the CMO at KLAIM, the company purchases outstanding medical claims from healthcare providers and gives hospitals, clinics, pharmacies cash in less than seven days. He added, “Healthcare providers don't need to wait anymore for 60-120 days for insurance companies to pay them the outstanding amounts. We are giving back the power and control to the healthcare providers.”

The company has already signed an agreement with Doctors Clinic and Diagnostic Center (DCDC) in Healthcare City to solve their medical claim payment issues and are already in several advanced discussions since the service was launched at the beginning of July. Like many other healthcare providers in the region, DCDC was in a tight spot because of payment delays from insurance companies. It affected their performance as lots of time was lost following up on payments. A robust solution to this problem like this new service from KLAIM was essential for them to focus entirely on providing quality healthcare services.

In addition to DCDC, KLAIM now also work with Dar Al Shifaa Hospital, Al Ain Pharmacies, Smile Dental Clinics, Amrita Medical Centre and 40 others. The company has operations in UAE and Saudi Arabia.