It is no secret that today, right now; there is a pressing need for medical care. Populations are growing, illnesses and diseases are becoming more prevalent, and public healthcare systems are falling short.
Today, more and more governments are relying on private insurance companies to run national medical programs.
This has become an international tendency, and is not truer than in the Arab world. In just 5 years, the healthcare insurance industry, in the Middle-East and North African regions, has grown exponentially. Moreover, health insurance has a high usage rate; any individual with a healthcare plan will use it at least once during the course of the contract.
As such, health insurance administration requires an army of individuals. But despite that, the business lacks control, and there is much waste in claims compensation and much abuse of the system. The exponential growth expected in the market is worth millions of dollars in new business, and insurance companies have to be prepared for it.
Historically, the insurance sector has been one of the challenges for the Middle East but always a clear source of huge potential.
Those who do not arm themselves with the proper tools will lose potential clients, and see a drop in existing business.
Health insurance management companies face fierce competition, and without the correct software solution risk finding themselves with no coverage. In 1998, a company foresaw the opportunities in the insurance industry, and had a vision to develop state-of-the-art solutions that will keep pace with industry changes and comply with changing environments effortlessly.
And so, FACT was established. And with the strong team behind it, FACT quickly proved itself on the scene, and in no time became an industry pioneer in the areas of insurance, banking and Islamic finance software development. With that vision in mind, FACT put together a team of insurance industry professionals, highly qualified consultants, and certified technical specialists and systems experts to create an insurance system.
Over 25 years of market experience and a clear look into the future poured into the creation of Al-Haris TPA.
Al-Haris TPA is a comprehensive fully integrated healthcare management system that manages the relationship between the insurance company, the providers, the insured and the re-insurance company.
Al-Haris TPA requires a small number of staff to run the product, reduces time and effort needed to process claims and payments, verifies claims validity automatically and catches false claims, thus eradicating unnecessary payments.
Al-Haris TPA offers great benefits to the bottom line. It saves on administrative costs, personnel costs, and disbursement costs. In summary, Al-Haris TPA provides excellent technical results by combining, outstanding underwriting and product design, along with exceptional network management, top of effective claims and case management, and extraordinary MIS and data management.
Al-Haris TPA controls the redundancy to adhere to the rising need of performing a single logical preserving information consistency
Al-Haris TPA high level of security protects confidential information ensuring privacy and grant access only to authorized users
Al-Haris TPA features real-time and accurate information at enterprise level leading to availability of up-to-date information
Al-Haris TPA provides reporting and tracking capabilities, with full view on current business status and supports the inspection of the trend over a long period of time.