Are Brazilian Tech Startups Really solving healthcare inadequacies?

Last month, the Brazilian government announced a new government programme aimed at solving its societal problems. However, the recipients of these government funds are not your usual suspects. R$20million has been allocated for startups in a bid to push for innovative solutions to health, education and other social issues in Brazil.

While the issues the government hopes to address cover a wide spectrum, the health sector is one that has experienced a rise with the formation of startups. A country prevalent with poverty, many Brazilians cannot afford health insurance. 75% of the population seek treatment under the free, public healthcare system, Sistema Unico de Saude (SUS). With a population pushing past 209 million people, about 157 million using the public system. As an underfunded and inefficient service that is on the brink of crisis, action is desperately needed. Insufficient funding causes a strain on the system and results in a lack in medical supplies and staff. Home to more than 250 health-focused startups, Brazil is Latam’s golden child in this area. So yes, it really does seem that they are solving inadequacies in the Brazilian healthcare system.

How can startups innovate the healthcare industry? 

●     Provide a more efficient ways to book appointments

●     Connect patients directly to a range of medical providers through different mediums

●     Establish platforms for medical professionals to monitor heart rate, blood pressure, cholesterol and sugar levels remotely either through apps or wearable tech.

●     Create electronic medical records and collect and provide useful data

●     Provide consultations via different channels for medical and mental health

●     Digitise prescriptions, track medication usage, improve error rates and reduce unnecessary visits to clinics

Brazilian health startups making a difference 

Boa Consulta: An easy-to-use app that lets patients schedule a range of health appointments in their area. 1 million registered patients can access the services of more than 35,000 specialists. The app has appointment reminders and can even recommend the best route to get to the clinic.

Medicinia: A platform for hospitals. Staff are able to automate post-discharge care for patients, return exam results online and provide check in terminals for health clinics. The idea is to improve communication between professionals and their patients while providing high quality services that are efficient and cost effective.

NEO MED: A B2B marketplace that aims to simplify the relationship between laboratories that provide cardiac and neurological exams to the patient’s health provider. Labs are able to receive payment with 24 hours through the platform.

Youper: Founded in Brazil and now based in San Fran, Youper is a emotional health app designed monitor and support depression and anxiety. Users can track their feelings and get help through “conversations” with a bot that responds using their personalised data.

Developments in other LatAm countries

Although Brazil is the epicentre of healthcare tech market, other Latin American startup markets are following suit. Governments have got the ball rolling with the establishment of programs and funding to integrate innovation into their economies and cement themselves as global hubs for startups. We look at some of the most exciting develops in Latam:

Mexico

Mexico’s startup market is receiving attention and funding from different government tiers. New legislation makes it possible to create a new business online in just one day, with no cost. The bill looks to promote development and innovation within the tech sector. A government open to supporting tech is promising for an industry with such potential. A host of entrepreneurial development organisations, such as 500 Startups Mexico (subsidiary of one the world’s biggest accelerators) and Startup Mexico are designed to support and boost local startups. Prescrypto, a Mexican startup, is building a healthcare services that uses blockchain-based infrastructure to provide a electronic prescription service. With the ability to authenticate a patient’s identity and securely send medical data, the service has already received $100.000 from UNICEF’s Innovation Fund.

Colombia

Colombia’s new government ministry, Ministerio de Ciencia, Tecnología e Innovación (Ministry of Science, Technology and Innovation) will provide more resources to research projects. This is part of a larger effort to revitalise the innovative sector following the creation of iNNpulsa Colombia in 2012, which promotes and facilitates business development. Apps.co is government supported entity that provides business development, training and funding for innovative and sustainable businesses. 1Doc3 is a digital health platform that provides trustworthy medical guidance to anonymous questions, for free. This helps to provide healthcare solutions to those who are unable to afford a doctor visit or live remotely. It aims to improve access to medical information and encourage users to ask questions they might otherwise feel uncomfortable doing face-to-face with a doctor. This type of projects appeared as a business opportunity for foreign startups looking to enter the Latin American market.  

Chile

Start-Up Chile is a public startup accelerator created by the Chilean government. As LATAM’s top accelerator program and among the top 10 worldwide, this program punches far above its weight. Its portfolio valuation is a whopping US$1.4 billion. BioFab, a Chilean startup that has received seed rounds from Start-Up Chile and 500 Startups, is a firm that specialises in printing human tissues and organs through 3D printers. The company also custom builds printers that have the ability to print with biological ink and construct structures of limbs or organs. Another promising startup is MaizApps, an enterprise that develops education apps that supports people with autism. Ablah, one of its most famous app, helps children with disabilities and speech impediments to communicate with their families and caregivers. With the government promoting foreign investment through these initiatives there is no doubt that Chile is standing out from the other “star-ups” capitals in the region.

What’s the future for health tech?

Latin America has huge potential for tech startups looking to bridge gaps in the healthcare sector. Lower education and income levels combined with difficult access to quality healthcare creates opportunities for tech firms to solve societal problems. Inequality within the population can lead to inequalities in health which means a greater part of the population is at risk of health problems. Technology and innovation have the power to create alternative mechanisms and solutions to health problems that stem from deeper political, economic and social problems.

Foreign firms looking to incorporate a company should seek out a local firm that can help them incorporate their company and provide guidance within the market. Adhering to regulations and legal legislation is key and can difficult to navigate in a different culture. Firms need to research their market well and do due diligence. Platforms that complement current services such as pharmaceutical price comparison apps may get traction faster. However, health startups identify a niche and create a new product or service are the ones that will go the distance and catch the eyes (and wallets) of investors.