The healthcare landscape is undergoing a seismic change with Big Tech and pharmaceutical giants ramping up their investment in artificial intelligence (AI). This initiative is reshaping how healthcare services are delivered and consumed. The recent collaboration between AWS and General Catalyst signals a push towards developing AI-driven healthcare tools, while companies like GE Healthcare are actively exploring generative AI applications for the medical field. A prime example of this trend is the Thai startup HD and its innovation, HDmall, which aims to streamline the healthcare industry in Southeast Asia.
HDmall operates as a digital marketplace designed to connect users with healthcare providers, effectively addressing the fragmented nature of the medical sector in Southeast Asia. By facilitating access to hospitals, clinics, and specific medical procedures, HDmall offers its users a consolidated platform to find relevant healthcare services. This model not only simplifies the search process but also helps in reducing costs through service aggregation and providing installment payment plans. The startup recently secured $7.8 million in funding, marking a significant milestone as it attracts attention from major players like Merck Sharp & Dohme (MSD), illustrating the cross-pollination of sectors in the name of healthtech advancement.
The latest funding round for HD brings its total financial backing to $18 million, underscoring a burgeoning interest in healthtech innovations in the Asia-Pacific region. MSD’s involvement is noteworthy, as it’s their first foray into funding a healthtech startup in this part of the world. The collaboration is particularly strategic, given that HDmall already has an established online presence for HPV vaccines—transactions which reflect the startup’s effectiveness in facilitating health services. Co-founder Sheji Ho emphasizes the platform’s extensive reach, boasting over 30,000 unique health products sourced from upwards of 2,500 healthcare providers. This breadth positions HDmall as a formidable player in the rapidly evolving Southeast Asian healthcare ecosystem.
A pivotal aspect of HDmall’s strategy involves leveraging AI technology to enhance user experience. The introduction of an AI-powered chatbot, named Jib AI, exemplifies this drive. Trained with a dataset comprising healthcare product information and transaction data, Jib AI streamlines customer interactions, handling nearly 60% of queries efficiently. This shift to AI assistance not only optimizes user experience with immediate responses but also allows healthcare professionals to dedicate more time to patient care—a crucial factor in enhancing service quality.
Looking ahead, HD has ambitious plans to further develop this AI capability. Future enhancements aim to include order processing, appointment scheduling, and health record management. Such advancements are not mere upgrades but essential components for evolving a reliable healthcare infrastructure in the face of growing patient demand.
The healthcare models across Southeast Asia are markedly different from those in Western countries. Without an established family doctor system, patients tend to seek immediate care at hospitals and clinics, making it critical for platforms like HDmall to provide clarity and transparency in service offerings. Given that out-of-pocket expenses account for a significant portion of healthcare costs—estimated at around 40%—there is an escalating need for accessible options that empower users during their healthcare decisions.
Ho articulates that the motivation for this platform stems from a recognition of evolving consumer behavior. With individuals increasingly leveraging online resources for healthcare information, HDmall is strategically positioned to meet this demand. Its marketplace model, akin to an “Amazon for healthcare,” allows users to search for specific medical services instead of individual doctors, further aligning with how patients approach healthcare decisions.
As HDmall continues to grow, plans for expansion into neighboring markets like Vietnam and Myanmar are on the horizon. The similarities in healthcare structures present a unique opportunity for HDmall to replicate its successful model while adapting to local needs. Moreover, partnerships across various sectors, including insurance and education, are underway, showcasing a holistic approach to integrating healthcare accessibility across wider demographics.
HDmall exemplifies a transformative initiative in the Southeast Asian healthcare sector, harnessing AI and technology to address systemic inefficiencies. Through effective use of digital platforms, the startup stands poised to not only redefine patient care but also empower users with knowledge and access, heralding a new era in healthtech innovation. With expectations set high, the trajectory of HDmall will be significant as it navigates the evolving landscape and scales its impact.