Smarter Health Earns SGD$5.15 Million for Health Data Exchange

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Singapore-based health data exchange platform Smarter Health on Monday announced it has raised SGD$5.15 million ($3.8 million) in Series A funding.

The round was led by East Ventures, with participation from Citrine Capital, HMI Group and Emtek.

WHAT HE DOES

Smarter offers a platform that enables easier data exchange between payers, providers and patients.

This includes products that guide patients through specialist referrals and appointment scheduling; manage complaints; improve patient flow; and manage digital pre-authorization.

WHAT’S THE POINT

The company plans to use the capital to expand its product offerings and expand its platform to other Southeast Asian countries. It currently operates in Singapore, Malaysia and Indonesia.

“The COVID-19 pandemic has forced insurers and healthcare providers to reflect and rethink their operations, catalyzing digital transformation. Smarter Health is here to make healthcare accessible, affordable and responsible by providing an AI-powered interoperable platform,” said Willson Cuaca, co-founder and managing partner of East Ventures, in a statement.

“We are excited to support Smarter Health in resolving healthcare process inefficiencies among healthcare ecosystem stakeholders.”

MARKET OVERVIEW

In June, Smarter has partnered with US health data analytics company Health Catalyst with the aim of reducing waste in Southeast Asian health systems.

Data sharing and interoperability remain major challenges in the field of health, including in the Asia-Pacific region.

Other companies that offer tech-based healthcare financing platforms include OODA Health, which was acquired by patient financial management company Cedar last year, and TailorMed, which recently acquired Vivor.

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