Perfios Acquires IHX to Enhance its Technology Offerings
According to reports, B2B SaaS fintech firm Perfios has declared the acquisition of IHX, a healthcare information exchange located in Bengaluru, as part of its strategy to enhance its technology offerings within the health insurance claims sector. This signifies Perfios' third acquisition in three months as it aims to expand its capabilities within the banking, financial services, and insurance (BFSI) sector.
Although the financial details of the deal were not revealed, Perfios CEO Sabyasachi Goswami characterized the agreement as a significant move in the company’s mid-to-long-term healthcare strategy.
Perfios, supported by Warburg Pincus and Kedaara Capital, aims to merge its data intelligence and analytics features with the IHX platform to enhance claim processing efficiency, operational transparency, and real-time decision-making for hospitals, insurers, and patients, utilizing its network of 30,000 hospitals and 30 insurers.
The CEO stated that preliminary evaluations indicate Perfios' proprietary AI models could greatly minimize claim processing durations.
“What used to require several hours will be reduced to less than ten minutes — and in some instances, even just four minutes — when the models are fully implemented. The aim is to achieve near real-time processing, allowing hospitals, insurers, and patients to access updates concurrently," adds Sabyasachi.
With increasing healthcare demand and rising claim volumes, Sabyasachi noted that quicker claim settlements will be essential for the ecosystem. Ultimately, the aim is to ensure that healthcare access is seamless, reaching even the most isolated individual in the farthest regions of India.
Established in 2020, IHX offers various solutions such as claims management, inpatient and outpatient management, marketing and inventory control, along with revenue cycle management for hospitals.
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The company claims it handles more than 40 percent of India's cashless health insurance claims, overseeing over 10 million transactions yearly and accounting for $1 billion in claim value.