Smarter Health gets $5.15M SGD to reduce healthcare costs in Southeast Asia – TechMac

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Smarter Health gets $5.15M SGD to reduce healthcare costs in Southeast Asia – TechCrunch

Organizing info from suppliers, insurers and sufferers not solely takes lots of time, however will increase non-public healthcare prices. Smarter Well being, a Singaporean-based startup, develops know-how that enables smoother trade of information between totally different events within the healthcare system, enhancing affected person care and lowering administrative prices. The corporate introduced as we speak it has raised a $5.15 million SGD (about $3.8 million USD) Collection A led by East Ventures for product growth and to develop in Southeast Asia.

Different traders included Orbit Malaysia, Citrine Capital, HMI Group and Emtek.

The corporate at the moment operates in Singapore, Malaysia and Indonesia, and plans to enter into new nations with its new funding. The brand new spherical brings Smarter Well being’s complete raised to $8 million SGD.

Smarter Well being’s platform isn’t meant to switch legacy software program already in use by its shoppers. As an alternative, it seeks to work with them, and cut back handbook processes. The startup’s AI-based tech allows safe information exchanges (with affected person consent) between healthcare suppliers, insurers and sufferers. This permits it to supply a roster of companies. For payors and insurers, this features a affected person concierge that recommends specialists, schedules appointments and creates demographic profiles of coverage holders. It additionally automates claims assessments, updates insurers about circumstances and makes the invoice and claims adjudication course of sooner.

The corporate has three primary buyer classes: docs, hospitals and insurers and different company payors, like AIA, Allianz and Prudential, which make up the majority of its enterprise.

For healthcare organizations and suppliers, Smarter Well being gives specialist suggestions and affected person registration instruments, a load-levelling resolution that shortens ready occasions and digitized hospital admissions and declare submissions.

In an announcement, East Ventures co-founder and managing companion Willson Cuaca stated, “The COVID-19 pandemic has pressured insurers and healthcare suppliers to replicate and re-strategize on their operations, catalyzing digital transformation. Smarter Well being is right here to make healthcare accessible, reasonably priced and accountable by offering an AI-powered interoperable platform.”

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