Smarter Health to receive $ 5.15M SGD to reduce healthcare costs in Southeast Asia - TechCrunch
Getting information from providers, insurers and patients not only takes a lot of time, but increases private healthcare costs. Smarter Health, a Singapore-based start-up company, will develop technology that allows smoother data exchange between different parties in the healthcare system, improving patient care and reducing administrative costs. The company announced today that it has led a $ 5.15 million SGD Series (approximately $ 3.8 million USD) led by East Ventures for product development and expansion in Southeast Asia.
Other investors included Orbit Malaysia, Citrine Capital, HMI Group and Emtek.
The company currently operates in Singapore, Malaysia and Indonesia, and plans to enter new countries with their new funding. The new round brings the total amount of Smarter Health to $ 8 million SGD.
The Smarter Health platform is not going to replace legacy software already used by clients. Instead, it tries to work with them, and reduce manual processes. The AI-based startup technology enables secure data exchange (with patient consent) between healthcare providers, insurers and patients. This will allow a list of services to be offered. For payers and insurers, this includes concierge patients who recommend experts, schedule meetings and create demographic images of policyholders. It also automates claims assessments, updates insurers on cases and speeds up the bill review process and claims.
The company has three main customer segments: doctors, hospitals and insurers and other corporate payers, such as AIA, Allianz and Prudential, which make up the bulk of the industry.
For healthcare organizations and providers, Smarter Health offers unique recommendations and patient registration tools, a loading rate solution that shortens waiting times and digital hospital submission and application applications.
In a statement, East Ventures co-founder and managing partner Willson Cuaca said, “The COVID-19 pandemic has prompted insurers and healthcare providers to reflect on and re-strategize their their work, capturing digital transformation. Smarter Health is here to make healthcare affordable, affordable and accountable by providing an interactive platform powered by AI. ”