Adaptis Inc. Inks Deal with MDIndia
October 6, 2003
Seattle, WA – Adaptis Inc. today announced that it has entered into an application service provider (ASP) agreement with MDIndia health care Services Ltd. as part of a strategic partnership. Under the terms of the agreement, MDIndia will utilize the Adaptis™ system to process health insurance claims submitted within its network of accredited providers. Adaptis will provide system implementation, customization, training and support.
Adaptis system will support claims processing for Indian health insurance market
MDIndia is one of a handful of active third party administrators (TPAs) licensed by the Indian government in the wake of privatization of the health insurance industry in 2000. The market for individual health insurance is between 250 and 300 million members of India’s emerging middle class.
“The Indian health insurance market is poised for explosive growth, and only the companies that successfully leverage information technology with business process expertise will be able to keep up,” said Jim Anderson, CEO of Adaptis. “By using the Adaptis system, MDIndia will gain an immediate advantage over its competitors in the race to expand from thousands to potentially millions of members over a short period of time.”
Designed to simplify claims processing for U.S. health plans with a managed health care orgnization line of business, the Adaptis system is flexible, scalable and robust enough to meet the aggressive demands of the rapidly growing Indian health insurance market.
“By automating processes that are now being done manually, we will vastly increase our claims-processing capacity and reduce the per-claim processing cost,” said Brij Sharma, president and founder of MDIndia. “We evaluated numerous claims processing systems and determined that Adaptis could best provide the system and support that will enable us to succeed.”
“Having such a large untapped insurance market is an opportunity that simply doesn’t exist in the U.S. today,” added Anderson. “We’re pleased that MDIndia selected Adaptis to be a part of their team for this exciting venture.”
