East Ventures Leads Series A Funding for Healthtech Startup “Smarter Health”

Smarter Health announced that it has secured a series A funding of S$ 5,15 million (approximately 54 billion Rupiah) led by East Ventures. The fresh funds will be used for product development and market expansion in Southeast Asia. This round was also attended by other strategic investors, such as Malaysian orbit, Citrine Capital, HMI Group, and EMTEK.

Platform Smart Health facilitates secure data exchange between insurance companies, healthcare providers and patients. This enables the use of data to guide patient decision making, and increases the accuracy and speed of claims processing. Future developments will drive greater operational efficiency, effectiveness, and enhance customer security.

Having achieved promising traction in Singapore, Malaysia, Indonesia, Smarter Health is looking to further enhance and expand its market and suite of solutions.

“We are excited to partner with East Ventures and other strategic investors to realize our vision of becoming an 'Easy to Access, Affordable and Accountable' healthcare service. We look forward to collaborating with more insurance companies, healthcare providers, and doctors to achieve this vision," said Smarter Health CEO Liaw Yit Ming in an official statement, Monday (3/1).

Co-Founder & Managing Partner of East Ventures Willson Cuaca added, the Covid-19 pandemic has forced insurance companies and healthcare providers to reconsider and re-strategize their operations with accelerate digital transformation. Smarter Health is here to make healthcare accessible, affordable and accountable by providing an AI-operable platform.

"We are excited to support Smarter Health in resolving inefficiencies in the health care process between stakeholders in the health ecosystem," said Willson.

One of Smarter Health's solutions that can be accessed in Indonesia is the Second Medical Opinion service, which allows patients to get a complete overview of their medical condition from a collaborative network of specialist doctors carefully curated by Smarther Health.

These specialists come from Singapore and have different medical specialties and disciplines. They practice in major private hospitals such as Elizabeth Novena Hospital, Mount Elizabeth Hospital, Gleneagles Hospital and others for a flat fee of S$250.

Indonesian patient will be scheduled for session teleconsultation for 20 minutes and receive a written medical report from the selected specialist within five working days after the consultation session.

The digital transformation of the healthcare industry is becoming a concern

The Ministry of Health publishes a roadmap contained in the blueprint (blueprint) transformation and digitization of the health sector Indonesia in the period 2021-2024. There are three main agendas that are the priorities of the Ministry, namely integration and development of data systems, service applications, and ecosystems in the field of health technology.healthtech).

Launch reason The roadmap This, apart from getting the right momentum due to the Covid-19 pandemic, is haunted by a number of major challenges. Among them, challenges in the data system and the unbalanced ratio of the number of health workers and room capacity to the total population.

Currently, there are hundreds of applications. Currently, there are hundreds of applications whose data management is still based on individual information. In government, there are more than 400 applications in the health sector, and this number does not include the regional level. This is not to mention the medical records of 270 million Indonesians, which are not yet fully digital-based.

Meanwhile, the Ministry of Health 2020 noted that the ratio of doctors reached 03,8 per 1.000 population, while the ratio of hospital beds was around 1,2 per 1.000 population in Indonesia.

"We have seen how the Covid-19 pandemic has had a significant impact on various things, including changing the way people consult. We must start this transformation and focus on developing platforms and implementing collaborative initiatives with stakeholders. We hope to make Indonesia healthy and create platforms integrated health," said the Chief Digital Transformation Office of the Ministry of Health, Setiaji.