Corporate healthcare benefits and wellness management platform, HealthMetrics secured a total of USD$ 5 million (approximately RM 20 million) as part of its Series A funding. The round was led by ACA Investments, one of Asia’s leading investment groups from Japan with over USD$1 billion asset under management.
With this new injection of funds, HealthMetrics will be expanding its regional footprint across Southeast Asia and enhancing its solutions to provide best-in-class user experience in health benefits whilst improving cost efficiency in corporate healthcare investments. In line with this, HealthMetrics will be extending its successful track record in digitalising corporate healthcare & optimising cost governance towards insurance-based corporate healthcare by working with regional brokers & insurance providers. In line with providing better health outcomes for employees, HealthMetrics will be expanding its offerings with innovative healthcare business models such as telemedicine, digital wellness & preventive programmes.
“We would like to express our gratitude towards ACA Investments for their confidence in us as we continue striving to make a difference in employee health and wellness at home and across the region. We founded HealthMetrics to ensure that companies are able to manage their employee health and wellness benefits with ease, in a more streamlined and cost-effective way. Our aim was and still is to introduce innovative digital processes to companies for higher efficiency and productivity. Bringing strong new investors and strategic partners into the HealthMetrics family allows us to continue innovating on our successfully proven approach on corporate healthcare” said Alvin Yuan, Chief Executive Officer of HealthMetrics.
“We are impressed by how HealthMetrics makes the relationship among the corporates, employees and healthcare service providers more efficient using its online platform. We also believe that HealthMetrics has a strong potential to widen the range of services as a B2B2C medical service platform and expand this footprint regionally. We will support the team to grow further using our network and other resources.” said Tomohiro Fujita, Chief Investment Officer of ACA.
HealthMetrics aims to extend its capabilities to fulfill both spectrums of outpatient and inpatient benefits, and of course, preventive programmes to drive down the long-term cost of corporate healthcare.
By extending its capabilities in managing inpatient care, HealthMetrics will be supporting companies that provide inpatient healthcare benefits in further optimising their processes to manage more complex employee healthcare needs, thus increasing efficiency.
HealthMetrics will be building on its existing dynamic cost containment capabilities to inpatient cost management, which is aimed at helping companies reduce hospitalisation costs and for insurance providers to further optimise cost of inpatient procedures as these procedures plays a huge part in the increasing cost of insurance.
Additionally, HealthMetrics’ existing insurance partners are already exploring a closer integration to leverage HealthMetrics’ advanced data cost-containment algorithm and digital capabilities to automate its processes, thus driving greater cost efficiencies.
Utilising big data and Artificial Intelligence (AI), this enhanced feature will provide organisations and its employees with personalised multi-disciplinary pathways including physical & mental wellness, pandemic preparedness, and medical surveillance programs. Owing to its comprehensive user base of more than 180,000 corporate clients, HealthMetrics is able to achieve economies of scale & negotiate favourable rates for health services such as health screening, vaccination, and other services.
HealthMetrics subsequently passes on these savings to its clients, further driving down healthcare costs.
“As we look to expand across the region, we aim to provide companies and their employees with more well-rounded digital solutions which meet their current needs which have evolved further since we founded our company five years ago. More than that, we will continue to assist companies in further optimising their healthcare budgets while constantly providing them with avenues for cost reduction without compromising efficiency, speed and accuracy,” added Alvin.