Organizing data from providers, insurers, and patients take a long time and add to the expense of private healthcare. Smarter Health, a Singapore-based firm, creates technology that improves patient care while lowering administrative expenses by allowing data to flow more smoothly between diverse stakeholders in the healthcare system.
East Ventures led a $5.15 million SGD (about $3.8 million USD) Series A round for product development and expansion in Southeast Asia, the firm said today. Orbit Malaysia, Citrine Capital, HMI Group, and Emtek were among the other investors. With its new capital, the firm hopes to expand into additional nations, including Singapore, Malaysia, and Indonesia. With this fresh round, Smarter Health has now raised a total of $8 million SGD.
Smarter Health’s platform is not designed to take the place of legacy software that its clients currently have. Instead, it tries to collaborate with them and automate as much as possible. The startup’s AI-based technology facilitates safe data exchanges between healthcare providers, insurers, and patients (with patient agreement). This allows it to provide a variety of services.
This comprises a patient concierge who suggests specialists, makes appointments and produces demographic profiles of policyholders for payors and insurers. It also automates claim evaluations, keeps insurers up to date on cases, and speeds up the bill and claim adjudication process.
Doctors, hospitals, and insurers, as well as other corporate payors such as AIA, Allianz, and Prudential, account for the majority of the company’s business. Smarter Health provides specialized advice and patient registration tools to healthcare organizations and providers, as well as a load-leveling solution that reduces wait times and digitized hospital admissions and claim filings.
“The COVID-19 epidemic has prompted insurers and healthcare providers to rethink and re-strategize on their operations, spurring digital change,” said Willson Cuaca, co-founder and managing partner of East Ventures. By delivering an AI-powered interoperable platform, Smarter Health aims to make healthcare more accessible, cheap, and accountable.”
Smarter Health is here to be accountable, cheap, and accessible to healthcare by delivering an AI-powered interoperable platform, according to Wilson Quaka, co-founder and managing partner of East Ventures. Smarter Health has received $5.15 million Singapore dollars to help cut healthcare expenses in Southeast Asia – TechCrunch Smarter Health receives $5.15 million Singapore dollars to lower healthcare expenses in Southeast Asia – TechCrunch.