Cashless. Paperless. Painless. That’s Practo
Healthcare platform Practo has introduced its Trinity technology to offer patients a cashless experience. “The patient will be able to walk away without having to pay cash” – Practo CEO and founder, Shashank ND .
Refresher: Practo was established in 2008 in Bangalore and has since raised $234M from Sequoia Capital and Tencent Holdings; to name two.
The platform solves two primary challenges when offering outpatient coverage – which contributes to 66% of India’s healthcare spend: it offers access to a vast network of reliable clinics and provides a cashless experience. Easy booking, easy buying (medicine), and easy claiming (insurance) are some of the platform’s key features. Insurers working with Practo will be able to establish their own network – by selecting providers that work with Practo, and set a rate card for each provider. Also, Practo will build a rule engine for each insurer to allow the platform to identify patients and process claims in real-time while avoiding fraud. “Trinity ensures a completely digital claims process including real-time approvals, and fast and automated periodic settlements to ensure a hassle-free experience for the doctors.”
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Last, ICICI Lombard is a partner. “With today’s partnership with ICICI Lombard, doctors and clinics across the country can now accept ICICI Lombard Insurance via Practo’s software platform.”
Bottom Line: a cashless, paperless, painless experience – now at a clinic near you.