The AI-based Indonesian healthcare startup Prixa raised $3 million in the recent funding round led by MDI ventures and Trans-Pacific Technology Fund (TPTF).
The company started its operations in 2019, and to date, it has raised $4.5 million. The startup is the first of its kind that is innovatively deriving the best out of the synergy between technology and integrated online healthcare services. The company presently serves more than 10 million patients. The AI-Based Symptom Check System offers solutions to diagnose over 1000 health conditions. The healthcare provider runs 100 plus drug delivery partners and laboratory test branches all over Indonesia.
The digital healthcare gateway follows a B2B business model with four major insurance companies as partners. Additionally, it works with the largest third-party administrators in Indonesia.
The Digital primary care platform is helpful for the patients as it offers access to teleconsultation services with experienced doctors anytime and anywhere. Today, the digital transformation penetrates the healthcare segment, making it a more viable option for patients. The users can also request on-demand lab tests quickly.
The company ensures a cost-efficient strategy in providing solutions that led to growth in the customer base. The company lately collaborated with insurance company Generali Indonesia that provides round-the-clock teleconsultations for the latter’s clients. Other partners include Lippo Insurance and Mandiri Inhealth.
Due to the pandemic, many patients are finding it hard to consult doctors directly. Therefore, the company reduces the risk of spreading the virus by the combination of the technologically driven healthcare system with proven clinical guidelines that optimizes the services by robust treatments. The company will ensure superior technology advancements that will improve the platform that supports the B2B customers and improves healthcare access and digital health transformation in Indonesia.
The trendsetters in digital healthcare in 2021 are wearables and the Internet of Medical Things, Artificial Intelligence & Data Analytics, Augmented Reality and Virtual Reality, and virtual consultations. Some of the key players in the market are Orange, Athena health Inc, Cisco Systems, Ihealthlab Inc, AT&T, and more.
The present scenario in healthcare systems in the US market is enormous; by adapting to the digital transformation, the health market from 86.4 Billion in 2018 is expected to reach 504.4 Billion USD in 2025 at a CAGR of 29.6%.
The APAC region’s market share in digital health was USD 11.2 billion in 2020, with a projection to reach a CAGR of 29.2% from 2021-26.
Indonesia is a developing country with high usage of internet connectivity; the digital health revenue stood at $85 million in 2017 and is expected to reach $973 million by 2023 with a CAGR rate higher than 60%.