MediConCen

MediConCen, established in 2018, operates at the intersection of financial technology and healthcare, aiming to streamline the medical insurance claims process. The company was founded by a team with diverse backgrounds: William Yeung, a former actuary with extensive experience in the insurance sector; FTO Ching, a seasoned software engineer; and Dr. David Chan, a registered chiropractor. This blend of expertise in insurance, technology, and healthcare underpins the company's strategic direction.

The firm has developed an AI-powered platform that automates medical insurance claims, connecting patients, healthcare providers, and insurance companies. Its core service utilizes optical character recognition (OCR) and natural language processing (NLP) to digitize and process information from medical receipts and documents, significantly reducing manual data entry and potential for fraud. By automating the verification and claims submission process, MediConCen aims to shorten the reimbursement cycle from weeks to a matter of days or even minutes. The business primarily serves insurance companies and corporations by providing a more efficient and secure claims management system, while also offering a more convenient experience for patients and medical practitioners.

MediConCen's platform is built on a private blockchain, which ensures the security, transparency, and immutability of claims data. This technological choice directly addresses issues of trust and fraud within the insurance industry. The company's business model is rooted in providing this technology as a service to its clients, likely generating revenue through platform integration fees or per-claim processing fees. The company has gained recognition through its participation in programs like Cyberport's incubation program and has received accolades such as the Junior Prize at the HKU DreamCatchers 100K competition.

Keywords: insurtech, healthtech, blockchain, AI, medical claims, claims automation, fraud detection, OCR, NLP, B2B