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Systems is currently developing "SmartCare"
- an online Medical Benefits and Claims Information System for
the Healthcare Industry
In April 1999, Stratech Systems Limited ("Stratech") successfully delivered to the Prime Minister's Office ("PMO"), a nation-wide healthcare system for the civil service called the "Medical Claims Proration System". This is to clarify that this system is different from "SmartCare™", a product that Stratech is developing in-house (contrary to earlier reports published in Sunday Plus, dated 12 March 2000 and The Business Times, dated 12 July 2000).
Based on her experience, Stratech Systems Limited is developing "SmartCare™ which is a web-based online Medical Benefits & Claims Information System. SmartCareTM is designed to support the efficient and online central management and processing of the healthcare benefits and medical claims information of members or employees of one or many organisations over the Internet.
Many employees of public and private corporations today are covered by a variety of medical benefits or healthcare insurance schemes where different employees working for the same employer may be entitled to different levels of insurance coverage depending on, among other things, their level of seniority and nature of their jobs. When an employee changes his job, or is promoted, the medical benefits he is entitled to may change and information about new employees and those that are no longer covered also have to be tracked and managed accurately. Members of the public are also covered by a variety of healthcare insurance schemes.
Said Dr David Chew, Chairman and Chief Executive of Stratech, "Given the size of our public offer tranche and the current weak market sentiments, especially in the technology sector, the response from the public is a clear endorsement of Stratech's strong growth potential. It is now our mission to deliver world class products and place Stratech Systems on the Technology map of the world."
Healthcare insurance organizations, healthcare providers, and employers need to share, manage and update existing or new employees' or covered members' healthcare insurance coverage information continually. Recovery of medical bills involve complicated calculations to determine which costs are covered, and which party pays those costs and in what proportion. Recovery typically also involves multiple parties, including the collection of co-payments from the employee or insured. Lowering the costs associated with such medical bills and payment recovery processing can go a long way to reducing overall healthcare costs and improve the operations of healthcare providers and insurance companies.
Healthcare insurance providers can benefit immensely from putting online the above information and related application functionalities, and making them available to healthcare providers, employers, their employees as well as the insured public. In addition, due to the wide variety and levels of healthcare schemes available, especially in large organizations, medical benefit schemes and information can be very complex to understand and administer.