Singapore-based healthcare data exchange platform Smarter Health announced Monday it had raised $5.15 million SGD ($3.8 million USD) in Series A funding.
The round was led by East Ventures, with participation from Citrine Capital, HMI Group and Emtek.
WHAT IT DOES
Smarter offers a platform that allows for easier data exchange between payers, providers and patients.
That includes products that guide patients through specialist recommendations and appointment scheduling; manage claims; improve patient flow; and handle digital pre-authorization.
WHAT IT’S FOR
The company plans to use the capital to develop its product offerings and expand its platform to other countries in Southeast Asia. It currently operates in Singapore, Malaysia and Indonesia.
“The COVID-19 pandemic has forced insurers and healthcare providers to reflect and re-strategize on their operations, catalyzing digital transformation. Smarter Health is here to make healthcare accessible, affordable and accountable by providing an AI-powered interoperable platform,” Willson Cuaca, cofounder and managing partner of East Ventures, said in a statement.
“We are excited to support Smarter Health in resolving inefficiencies in healthcare processes between stakeholders in the healthcare ecosystem.”
In June, Smarter partnered with U.S.-based healthcare data analytics company Health Catalyst with a goal of reducing waste in Southeast Asia’s health systems.
Data-sharing and interoperability continue to be major issues in healthcare, including in the Asia-Pacific region.
Other companies that offer tech-enabled healthcare finance platforms include OODA Health, which was acquired by patient financial management company Cedar last year, and TailorMed, which recently acquired Vivor.