WASEEL SIGNS A STRATEGIC PARTNERSHIP FOR PHARMACEUTICAL BENEFIT MANAGEMENT
As part of the events that took place during the Health Insurance Forum held in Abu Dhabi between 2-5 sep 2007, A strategic partnership agreement was signed between Waseel ASP, The leading application service provider for electronic data Interchange in the Gulf region, and Bathabile-Knowledge Objects, of South Africa. Being the exclusive representative for McKesson’s Pro-PBM solution in the Middle East and Africa, Bathabile-Knowledge Objects is company committed to reducing the non-healthcare and healthcare costs related to medicines by applying the most advanced pharmaceutical benefit management technology and rule sets.
The agreement prepares for a joint venture between the two companies to build a pharmaceutical claim management solution to manage and process pharmaceutical claims and approvals on behalf of the healthcare insurance companies. The system will help both the insurance companies and healthcare providers execute certain tasks in a fast seamless manner, with great reduction in medical and administrative errors.
Wassim Khashoggi, CEO, Waseel ASP says: “ Over the past four years, Waseel ASP have succeeded in developing and implementing its own system of Electronic Data Interchange and Web Portal to link healthcare providers and insurance companies enabling them to communicate and perform electronic transactions with efficiency and ease. And as part of our ongoing quest for growth and development, we tackle the issues arising in the provider payer relationship. A major portion of these issues come from pharmaceutical services and drug dispensing which represents 40-60% of the work volume. This is one of the many reasons that lead us to sign this joint venture agreement with Bathabile, to implement Pharmaceutical Benefit Management Solution enabling us to process pharmaceutical claims and approvals with the least human intervention. The benefits of such a solution are tremendous, from saving cost and time to reducing administrative and medical errors through the utilization of proven medical and formulary guidelines. The drug dispensing system efficiently manages the drug dispensing process and prevents drug intervention or over utilization through the implementation of electronic health record for every patient.
Mike Collier, Manager Director of Bathabile says: “We are 100% committed to leveraging our worldwide experience and technology for the benefit of our joint venture with Waseel ASP in the GCC countries. It’s been a pleasure working with the committed, innovative team at Waseel Asp and I have no doubt that we will jointly deliver valuable cost effective solutions to the health insurers in the region.”
The Healthcare insurance is expecting a big increase in the volume of work resulting from the governmental trends and initiatives in the GCC countries. This makes the vision clear for everyone- the need for development in the health care and health insurances business especially in the information technology domain, and the need for a unified and advanced solution to manage and facilitate the communication and business between both sides of the industry.