Main Highlights:
- Smarter Health, a Singapore-based firm, produces technology that enables more efficient data interchange between various stakeholders in the healthcare system, enhancing patient care and lowering administrative expenses.
- Today, the company announced that it had raised an SGD 5.15 million (about USD 3.8 million) Series A round led by East Ventures for product development and regional expansion.
- Smarter Health provides healthcare organizations and providers with specialist recommendations and patient registration tools, as well as a load-leveling system that reduces wait times and automates hospital admissions and claim filings.
Organizing data from providers, insurers, and patients not only takes a great deal of time but also adds to the expense of private healthcare. Smarter Health, a Singapore-based firm, produces technology that enables more efficient data interchange between various stakeholders in the healthcare system, enhancing patient care and lowering administrative expenses. The company raised an SGD 5.15 million (USD 3.8 million) Series A round led by East Ventures for product development and regional expansion.
Orbit Malaysia, Citrine Capital, HMI Group, and Emtek were investors. The company is now operating in Singapore, Malaysia, and Indonesia and intends to expand internationally with the new capital. Smarter Health has already raised a total of SGD 8 million in funding.
Smarter Health’s platform is not intended to replace old software that its clients already use. Rather than that, it attempts to collaborate with them and automate operations. The startup’s AI-powered technology facilitates secure data exchanges between healthcare providers, insurers, and patients (with patient consent). This enables it to provide a diverse range of services. This comprises a patient concierge who recommends specialists, makes appointments, and produces demographic profiles of policyholders for payors and insurers.
Additionally, it automates claim assessments, keeps insurers informed of new instances, and speeds up the billing and claims adjudication processes. The company serves three primary customer segments: physicians, hospitals, insurers, and other corporate payors like AIA, Allianz, and Prudential.
Smarter Health provides healthcare organizations and providers with specialist recommendations and patient registration tools, as well as a load-leveling system that reduces wait times and automates hospital admissions and claim filings.
Willson Cuaca, the co-founder of East Ventures, stated in a statement that the COVID-19 pandemic had compelled insurers and healthcare providers to evaluate and rethink their operations, spurring digital change. By delivering an AI-powered interoperable platform, Smarter Health aims to make healthcare more accessible, affordable, and accountable.
About Smarter Healthcare
Smarter Health develops artificial intelligence-enabled healthcare infrastructure solutions emphasizing decision-making for patients, specialists, and medical institutions. Concierge, patient channel management, a queueing system, and claim submission are among the digital services offered by the company. The company was founded in 2017 by Yit Ming Liaw and operated in Malaysia and Indonesia. The additional money will develop new products and expand Smarter Health’s market presence in Southeast Asia.
Who is Wilson Cuaca?
Willson Cuaca is a founding partner of East Ventures, Indonesia’s first venture capital firm. As an early proponent of Indonesia’s digital economy, the firm invests across sectors and believes that technology is critical for the country’s economic and productivity growth.
East Ventures has invested in over 180 firms across Southeast Asia, with over 80% of them based in Indonesia. East Ventures pioneered the market by being the first investor in Tokopedia and Traveloka. East Ventures collaborates with two other unicorns, Gojek and Grab, to build a thriving and innovative Southeast Asian digital ecosystem.
East Ventures was voted Preqin’s Most Consistently Top-Performing Venture Capital Fund globally and the Most Active Investor in Southeast Asia and Indonesia.
Learn About Yit Ming Liaw
Yit Ming Liaw is the co-founder and CEO of Singapore-based healthcare platform Smarter Health Pte Ltd in Southeast Asia that connects patients with specialists. Before creating Smarter Health, he worked for IHH Healthcare Sdn Bhd, one of the world’s leading hospital groups; as the Head of Strategic Planning and M&A., I contributed to expanding IHH’s hospital portfolio from 30 in 2012 to more than 50 now.
Before joining IHH, he worked at Khazanah Nasional Bhd as the Vice President of Investments (sovereign wealth fund of Malaysia). He has been involved in several award-winning transactions throughout his career, including the SGD 3.6 billion take-private of Parkway Holdings Ltd, the USD 1.26 billion take-private of Acibadem Hospitals, and the 2012 IPO of IHH Healthcare Bhd, which was the world’s third-largest IPO of the year.
