Rise in claims due to ongoing vaccination drives.
In mid-January 2020, the world was hit by a deadly new virus, “COVID-19,” and mankind experienced a world-wide lockdown to survive as there was no cure, and this virus was very contagious. Some of the biggest firms like Pfizer- BioNTech, Moderna TX Inc, AstraZeneca, Johnson & Johnson, Bharat Biotech, Serum Institute, Zydus Cadila, Panacea Biotec, among others started preparing the vaccines.
iTech has been in the US Public healthcare domain for a decade covering over 20 states, with 140 Clinics and processing about 92k claims per month on an average in the last 12 months.
On 11th December 2020, the Vaccination started in the USA, wherein we started seeing a rise in vaccination claims. The vaccination claims alone were over 58k in January, in the first 10 days of February, there were more than 32k vaccination claims, and we expect the numbers to keep increasing.
We have about 2M patients in the system from public health clinics. Although US FDA issued a EUA of AstraZeneca Covid-19 Vaccine on 8th January 2021, we have seen public health clinics using only two vaccines from our analysis, i.e., Pfizer-Biotech and Moderna. Almost half (52%) of the patients on our system are given Pfizer-Biotech, and the remaining (48%) are given Moderna vaccine, out of the total of 93k Vaccination claims from Jan & February 2021.
As the complete Vaccination has two doses, we estimate that our system’s number of vaccination claims would be over 750K this year. As a part of the USA’s extensive healthcare eco-system, iTech accepts the challenge of processing vaccination claims.